Broken Hill Gold (ASX:BH6) has completed its third gold pour from White Dam, pulling another 5.43kg of doré from existing heap leach ore while refurbishment work pushes the project closer to a broader restart.
The latest bar is estimated at a 70:30 gold-to-silver ratio and has been sent to the Perth Mint for sale.
That cash is not just going into the bank, it is helping fund the next round of site upgrades.
White Dam keeps paying
The current heap leach operation is still producing value from existing material while Broken Hill Gold works through plant and infrastructure improvements.
CIC Tank 1 is being fully replaced, the remaining tanks are being sandblasted and epoxy coated, and the gold room fume extraction system is now installed and operational.
Irrigation will pause in late October while the collection drain and solution ponds are relined to address ageing infrastructure and historic design issues.
The third pour is helping pay for that work.
Figure 1: Doré bar PGO-03 weighing 5.43kg with an estimated 70:30 gold to silver ratio.
Bigger pad, bigger restart
The next piece is scale.
Broken Hill Gold has completed the design for a two-phase heap leach pad expansion capable of adding around 3.5Mt of capacity.
Phase one would provide around 2.4Mt of capacity, or roughly two years of stacking, before a further 1.1Mt is added later.
The design is now ready to go to tender.
That gives White Dam a much larger operating platform if the broader restart gets the green light.
Vertigo is the real growth lever
The bigger catalyst sits at Vertigo.
A PFS for restarting the Vertigo oxide pit is now underway and targeted for completion in Q1 2027, with a Final Investment Decision expected in the same quarter.
Drilling is also underway to collect material for column leach testwork at Vertigo East and Vertigo North, while initial pit design work is expected shortly.
What comes next
The near-term sequence is clear.
Finish the refurbishment, complete the relining, tender the pad expansion, finish the Vertigo PFS, then make the restart decision.
White Dam is already producing cash, now Broken Hill Gold is building the infrastructure to make the next phase much bigger.
