Everest Metals begins mining operations at Mt Dimer project, WA

Core Viewpoint - Everest Metals Corporation (EMC) and MEGA Resources have commenced mining operations at the Mt Dimer Taipan Gold Project in Western Australia, marking a significant transition from exploration to production phase [1][4]. Group 1: Project Overview - The Mt Dimer Taipan Gold Project is located 150km north-west of Kalgoorlie and has entered the production phase after completing site preparations and deploying the mining fleet [1]. - The project is supported by a right to mine agreement with MEGA Resources, established in October 2025, which provides up to A$18.6 million (approximately $12.47 million) in non-dilutive capital [2]. Group 2: Financial and Resource Details - The Mt Dimer Taipan project contains an inferred mineral resource of 722,000 tonnes at 2.1 grams per tonne gold, equating to approximately 48,545 ounces of gold, and also holds 3.84 grams per tonne of silver, totaling around 89,011 ounces of silver [2]. - Operational cash flow from the project will cover expenses, with any net surplus shared equally between Everest Metals and MEGA Resources [2]. Group 3: Future Plans and Approvals - Everest Metals plans to commence toll treatment of ore in March 2026 at a facility in Kalgoorlie with a capacity of 200,000 tonnes per annum [3]. - The company received approval for its mining proposal and mine closure plan from the WA Department of Mines, Petroleum and Exploration in August 2025, facilitating the start of mining operations [3]. Group 4: Management Insights - Everest Metals' executive chairman and CEO Mark Caruso highlighted the swift transition from exploration drilling to active mining, showcasing the team's execution capability and the strength of the partnership with MEGA [4]. - The Mt Dimer project has a history of exploration activities dating back to 1992, and Everest Metals acquired the mining lease in 2020 [4].