Vault Minerals flags spending boost to drive growth

Vault Minerals (ASX:VAU) is ramping up investments across its operations, flagging a period of elevated capital spending to establish a strengthened long-term production base.

The gold miner revealed a capital expenditure forecast of $278 million for the 2026 fiscal year.

The company expects to produce between 332,000 and 360,000 ounces of gold in FY26.

This comes on the back of a solid operational performance, with Vault confirming it has already produced 306,542 ounces in the 11 months leading up to May 31, keeping it firmly on track to meet its current annual guidance.

The miner forecasted all-in sustaining costs to sit between $2650 and $2850 an ounce across the group.

Management emphasised that the majority of this increased spending is non-recurring.

The short-term spike is heavily driven by the expansion of its flagship King of the Hills processing plant, with approximately 70% of the project's remaining capital expenditure scheduled to fall within FY26.