Valiant Gold Keeps H2 FY27 Target for Comet Restart

Valiant Gold (ASX:VAL) reported progress on restarting its 100%-owned Comet Gold Mine in Western Australia's Murchison region and kept its target of first production in H2 FY27.

Dewatering has reached the 1270 Level, 170 metres below surface. The initial Pinnacles dewatering program, which gives access to the first production area, is targeted for completion before the end of Q2 FY27, and dewatering of the Comet decline is anticipated to finish in the second half of FY27. The workshop, site offices and medical centre are installed, and primary ventilation fans are in place in the Comet and Pinnacles workings, with commissioning to follow once site power is established. Installation and commissioning of a 6.1 MW power station is planned by the end of October 2026, and a 30-person accommodation camp is scheduled for November 2026. The Comet mine trend hosts a Mineral Resource Estimate of 3.77Mt @ 2.51g/t Au for 304koz of gold. Comet is 14 km by road from the Tuckabianna Mill and 110 km from the Bluebird Mill, both accessible under an ore purchase agreement with Westgold Resources. The managing director states that Comet is funded to first production.

The Comet Restart Study, which will form the basis for a preliminary restart mining schedule, is not due until Q2 FY27, and the underground mining contractor has not been selected. The release gives no production rate, cost or capital estimate.