# NMR: Blackjack produces 297oz dore as Q3 performance strengthens Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nmr-blackjack-produces-297oz-dore-as-q3-performance-strengthens--a22763fd-463a-4e9e-a2cf-b5c7c712c7b0 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03149267 Publisher: asx Original announcement: 2026-10-06T21:33:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-06T22:21:48.154Z Atlas analysis updated: 2026-10-06T22:21:48.154Z - Company: Native Mineral Resources Holdings Limited - Ticker: NMR - Exchange: ASX - Region: Queensland - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Production, Metallurgy - Extracted: 2026-10-06 22:21:48 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Native Mineral Resources Holdings Limited reported a strong operational performance for Q3 CY26 at its Blackjack Gold Operations, producing approximately 2,331 ounces of refined gold, an 84% increase from Q2 CY26. This improvement was driven by a 75% increase in reconciled head grade to 1.10 g/t Au and sustained plant recovery of 94.7%, despite some laboratory productivity constraints in September. The company aims to maintain strong plant performance and improve feed consistency for higher gold output in Q4. Reasoning: Native Mineral Resources reported a substantial 84% increase in refined gold outturn for Q3 CY26, driven by a 75% increase in reconciled head grade and maintained high plant recovery and mill availability, indicating strong operational performance despite some laboratory constraints. - Positive factor: significant production increase - Positive factor: significant head grade improvement - Positive factor: strong plant recovery - Positive factor: high mill availability - Positive factor: record monthly production - Negative factor: laboratory productivity constraints Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 20 ## Classification and evidence **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Q3 reconciled plant recovery of approximately 94.7% for gold is strong for a mill/CIL circuit. Evidence · text > Q3 reconciled plant recovery of approximately 94.7% **Tonnage Growth** Polarity: positive Story-specific tag Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Dry tonnes milled increased 5.0% to 70,987t in Q3 CY26 compared to Q2 CY26. Evidence · text > Dry tonnes milled increased 5.0% to 70,987t **Grade Improvement** Polarity: positive Story-specific tag Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: Weighted reconciled head grade increased approximately 75% from 0.63g/t Au in Q2 CY26 to 1.10g/t Au in Q3 CY26. Evidence · text > Weighted reconciled head grade increased from approximately 0.63g/t Au in Q2 CY26 to approximately 1.10g/t Au in Q3 CY26 **Contained Metal Growth** Polarity: positive Story-specific tag Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Reconciled gold recovered increased approximately 81% from 1,315.8oz in Q2 CY26 to 2,387.4oz in Q3 CY26. Evidence · text > reconciled gold recovered increasing approximately 81% from 1,315.8oz in Q2 CY26 to 2,387.4oz in Q3 CY26. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The document refers to 'Blackjack Processing Plant', 'mill availability', and 'elution circuit', indicating a mill-based processing route. Evidence · text > Blackjack Processing Plant completed its latest gold smelt on 6 October 2026, producing three doré bars with a combined gross weight of 296.6oz \(9.23kg\). **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Metallurgical Results (2) ### mill route [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-blackjack-produces-297oz-dore-as-q3-performance-strengthens--a22763fd-463a-4e9e-a2cf-b5c7c712c7b0#fact-metallurgical-facts-9) Blackjack Gold Operations · gold #### Identity - Project: Blackjack Gold Operations - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: NMR #### Test Work - Program Status: optimization - Test Type: mill route - Processing Route: mill route #### Recovery - Recovery: 94.7 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Maintaining a high plant recovery of 94.7% demonstrates consistent and efficient metallurgical performance, supporting overall production gains. - Positive factor: strong plant recovery - Positive factor: maintained metallurgical performance Evidence · text > Q3 reconciled plant recovery of approximately 94.7% #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal ### mill route [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-blackjack-produces-297oz-dore-as-q3-performance-strengthens--a22763fd-463a-4e9e-a2cf-b5c7c712c7b0#fact-metallurgical-facts-16) Blackjack Gold Operations · gold #### Identity - Project: Blackjack Gold Operations - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: NMR #### Test Work - Program Status: optimization - Test Type: mill route - Processing Route: mill route #### Recovery - Recovery: 95.6 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: This figure provides the baseline for comparison, showing the previous quarter's plant recovery. Evidence · table > 95.60% Context: Reconciled plant recovery² #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 95.6% is at or above the exceptional band \(95%\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.