Everest Metals (ASX: EMC) and partner MEGA Resources have commenced mining operations at the Mt Dimer Taipan Gold Project, located 150km northwest of Kalgoorlie and 120km northeast of Southern Cross in Western Australia.
The milestone follows extensive groundwork, including a recent resource upgrade, and positions Mt Dimer to enter active production.
Under the right to mine agreement executed in October 2025, MEGA is providing up to $18.6 million in non-dilutive capital, enabling EMC to progress the project with zero upfront costs.
Operational cash flow will reimburse expenses, with any net surplus shared equally between the partners. Ore extraction has been underway since late November 2025, with toll-treatment at a Kalgoorlie facility (200,000 tpa capacity) scheduled to begin in March, ensuring a fully funded, streamlined pathway to production.
The Mt Dimer Taipan Project hosts a maiden inferred mineral resource of 722,000 tonnes at 2.10 g/t gold (48,545 oz) and 3.84 g/t silver (89,011 oz).
EMC's Executive Chairman and CEO, Mark Caruso, said, "In under four months from receiving final approvals, we have moved from exploration drilling to active mining—a clear demonstration of our team’s execution capability and the strength of our MEGA partnership."
At the time of reporting, Everest Metals' share price was $0.12.