Tennant Mines
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Metric
Value
Context
H1 FY26 Production
15,560 oz
First production period from the Nobles CIL plant. Includes gold and copper-equivalent ounces during ramp-up phase.
FY26 Full-Year Guidance
46,000–50,000 oz
Implies approximately 30,000–34,000 ounces in H2, reflecting throughput stabilisation and higher-grade ore feed.
Medium-Term Target (FY29)
~100,000 oz per annum
Near doubling of FY26 guided production. Driven by sequential development of Warrego, Juno, and satellite deposits.
JORC Mineral Resource
992,000 oz (7Mt @ 4.4 g/t
Joint venture area resource estimate. Post-Emmerson consolidation provides 100% ownership of the entire resource base.
JORC Ore Reserve
200,000 oz (1.1Mt @ 5.8 g/t)
Foundation for the near-term mine plan. High average grade relative to Australian gold peers.
Warrego Resource
16.5Mt @ 1.3% Cu + 1.1 g/t Au
Multi-commodity copper-gold resource. Pre-feasibility study completed on processing infrastructure.
Consolidated Land Package
~1,800 km²
Post-Emmerson acquisition. Dominant land position in historically Australia’s highest-grade gold province.
Exploration Targets
10+ new anomalies identified
White Devil analogues detected via modern geophysics. Less than 8% of historical drilling has penetrated below 150 metres.
H1 FY26 AISC
~US$2,543/oz
Reflects ramp-up commissioning costs. Expected to decline materially in H2 with increased production, as throughput stabilises and grade improves.
Emmerson Acquisition
A$311M (US$218M) all-scrip
36.4% premium to last closing price. Eliminates JV complexity, provides 100% ownership and operational flexibility. Significant valuation upside through new exploration targets and resources open at depth.
Featured Gold Price
- Gold Reserves: 13Moz (Across all operations)
- Total Resources: 42Moz (Identified)
- Annual Capacity: ~275,000oz (FY26 Guidance)
- Validity of Barberton Mines' Mining Rights.
- All-In Sustaining Cost (AISC): ~US$1,525/oz – US$1,575/oz (FY26 Guidance)
- Life of Mine: ~20 years (Group weighted avg)
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How We Are Mining for a Future
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