Vault Minerals’ three year production growth

Vault Minerals (ASX: VAU) has released its three year outlook, targeting FY26 production of 332,000-360,000oz at $2650 to $2850/oz.

Higher consolidated gold production is forecast for FY27 and FY28, mainly due to increased plant capacity at the Leonora operations and the production continuation at Sugar Zone in FY28.

For Vault Minerals’ Leonora mine, gold production for FY26 is expected to be consistent with FY25, producing 185,000-200,000oz.

Over the outlook period, mill throughput is predicted to increase from 5.3mtpa in FY25 to 7.5mtpa in FY28 following completion of the Stage 2 plant upgrade in the second quarter of FY27.

At Mount Monger, FY26 gold production is expected to be between 75,000-82,000oz, with the upper end of the range consistent with FY25.

Ore production will continue from Daisy underground in FY26, whilst no production from Daisy is included in the FY27 and FY28 outlook.

Deflector’s FY26 gold production of 72,000-78,000 ounces is forecast to be lower than FY25 (106,722 ounces) as the centre of mining activity at the Deflector mine transitions to Deflector South West and Spanish Galleon.

Vault plans to invest $30m in exploration during FY26, focused on in mine and near mine targets within existing operations.

The Leonora operations will receive the largest portion of the investment with about 116,000m of resource definition drilling planned.

Significant programs are planned for King of the Hills (KoTH) and Darlot underground mines targeting resource growth in both established and new mining areas, including step out targets within the KoTH primary host unit.

Additionally, Vault has reinvigorated regional exploration which includes a program targeting 12km of under-explored mineralisation along strike of the KoTH mine operations.