Native Mineral Resources Holdings Limited has announced a significant operational milestone with the production of its first gold at the Blackjack Gold Project in Queensland. On 30 July 2025, the company processed ore from its initial drill and blast program through a 340ktpa carbon-in-leach facility, yielding 70 ounces of gold with an average recovery of 91.64% from 7,047 tonnes of material and an estimated head grade of 0.44 g/t. The gold doré bars, produced using the TA100 LPG furnace and other critical elution and electrowinning components, are set for secure transport for assay and refining later that day. The company’s managing director and CEO, Blake Cannavo, highlighted the milestone as a transformational moment, marking the transition from a gold developer to a gold producer with its first revenue generation. The successful commissioning of the fully refurbished plant, along with its staged ore commissioning strategy—which involved an initial mix of low-grade and Far Fanning material before switching entirely to low-grade ore—signals readiness for further ramp-up. The upcoming operational plans include an increase in ore feed from additional production blasts, finalisation of a detailed mine plan in collaboration with external engineering consultants, and a comprehensive gold reconciliation, with the next gold pour scheduled for 8 August 2025. Bullish sentiment stems from the positive commissioning results, the strong recovery rate of over 91%, and the company’s clear roadmap toward optimizing production capacity and cash flow improvements. Conversely, some cautious perspectives remain due to early minor impurities detected during commissioning, the need for final monthly reconciliation to confirm metallurgical accounting, and potential operational tweaks as the ramp-up phase unfolds.