Vault Minerals (ASX: VAU) said it will invest AU$80 million to expand the throughput capacity of the King of the Hills processing facility at its Leonora operations in Western Australia to 6 million tonnes per annum (mtpa), a 20% increase from fiscal 2024, according to a Thursday filing with the Australian bourse.
The upgrade includes a new crushing circuit designed to enhance throughput and reduce costs, along with wet plant modifications, per the filing.
The company aims to reduce ore stockpiling and accelerate treatment at the site, which hosts ore reserves of 2.2 million ounces. The expansion is also designed to support future capacity increases to 7 mtpa, the company added.
The investment, which will be internally funded, is set to start in April 2025, with completion and commissioning expected by the fourth quarter of fiscal 2026, the company said.
The company's shares closed down by more than 4% Thursday.
Price (AUD): $0.33, Change: $-0.02, Percent Change: -4.35%
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