Everest Metals Hits the Ground Running at Mt Dimer
Everest Metals Corporation (ASX: EMC) has received the green light to break ground at its Mt Dimer Taipan gold and silver project in Western Australia, with mining operations slated to begin in the final quarter of 2025. The approval from the state’s Department of Mines, Petroleum and Exploration (DMPE) marks a major milestone for the junior explorer, transitioning the project from paperwork to production.
Mt Dimer, located about 150 kilometres northwest of Kalgoorlie, is no newcomer to mining. First granted in 1992 and last mined in the 1990s, the site has since seen multiple hands before being picked up by Everest (then Twenty Seven Co. Ltd) in 2020. The current resource stands at 722,000 tonnes grading 2.10 grams per tonne gold and 3.84 grams per tonne silver, translating to 48,545 ounces of gold and 89,011 ounces of silver. All figures are underpinned by a 2021 JORC-compliant resource estimate.
The plan is to start with a small-scale open pit operation, using toll treatment to process the ore offsite. In layman's terms, EMC will truck its ore to a nearby facility rather than build its own processing plant, which is a prudent move for a company aiming to get into production without burning capital.
The pit design involves a modest cutback of the old workings, shifting around 125,000 bank cubic metres of waste rock and targeting both lateral and deeper extensions of the deposit. Mining will take place during the day over an eight-month period, with site rehabilitation and ore haulage expected to continue for another three months. The infrastructure is straightforward, with roads already in place and mining planned within previously disturbed ground.
Importantly, EMC is keeping it lean. A small fleet of 55-tonne articulated trucks and a 60-tonne excavator will do most of the heavy lifting. Management is also exploring the use of larger 100-tonne trucks for early stripping if they can get their hands on them.
EMC boss Mark Caruso sees the project as a fast track to production and potentially profitability, saying, “We have now met a key project milestone in fast-tracking the Mt Dimer Taipan project, which has the potential to become a profitable mining operation in 2026, with approval to commence mining this year.”
Negotiations with contractors for mining services, haulage and toll processing are said to be well advanced, and a final decision is expected soon. The company’s confidence appears to stem not only from its modest resource base but also from exploration upside. The deposit remains open to the south and at depth, with EMC already eyeing drilling programs to test for extensions.
The environmental side has not been neglected either. All mining activity is confined to the granted lease area, and EMC has committed to a Mine Closure Plan, which will be reviewed in 2028.
In terms of next steps, EMC will finalise mining contracts, commence site establishment in the December quarter, and wrap up negotiations for toll treatment. Exploration drilling will also remain on the cards as the company looks to beef up the resource.
With a gold price that remains historically strong and a shallow, accessible resource, Mt Dimer gives EMC a real shot at becoming a revenue-generating producer in short order. The market may well watch closely to see whether the company can make good on its plan to be digging dirt before year-end.
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Austal Anchors Role as Australia’s Strategic Shipbuilder
Austal Limited (ASX: ASB) has officially secured its position at the helm of Australia’s national defence shipbuilding efforts with the finalisation of a Strategic Shipbuilding Agreement (SSA) with the Commonwealth. Under the agreement, a new Austal subsidiary called Austal Defence Shipbuilding Australia will become the prime contractor for Tier 2 naval vessels built at Henderson in Western Australia.
The move cements Austal’s role as a cornerstone of the government’s continuous naval shipbuilding strategy. While the final documents are still being inked, the Commonwealth has approved the terms of the SSA, marking a significant milestone for the Perth-based company.
At the heart of the arrangement are two pilot projects. The first is the Landing Craft Medium (LCM) program, which will see 18 vessels built over an eight-year period. This project is valued between $1 billion and $1.3 billion, with contracts expected to be finalised in the first quarter of financial year 2026. Following close behind is the Landing Craft Heavy program, involving eight larger vessels, which is expected to come under contract by the end of the 2025 calendar year.
Austal CEO Paddy Gregg described the agreement as a defining moment for the company. “It will establish Austal Defence Australia as the Commonwealth of Australia’s strategic shipbuilder for Tier 2 vessels in Western Australia,” he said. “This reflects both Austal’s excellent defence shipbuilding record and our ability to help the Australian Government meet its defence objectives.”
The SSA outlines a 15-year framework in which Austal Defence Australia will manage the design, construction and delivery of these vessels. Under a target cost model with built-in incentives, the company will be reimbursed for allowable costs and paid a profit margin, with performance linked to cost control and schedule adherence.
Importantly, the SSA is about more than just contracts. It is a broader strategic play aimed at building sovereign capability. Austal Defence Australia will work closely with local suppliers to strengthen the naval supply chain, create jobs and ensure the country’s defence procurement remains resilient and self-sufficient.
In addition to its construction responsibilities, the new entity will handle procurement, testing, delivery and long-term support. The workforce will be made up of personnel drawn from Austal’s existing group and new hires as needed. Design and integration work will align with ongoing defence projects, including submarine and surface fleet sustainment.
To safeguard its interests, the Commonwealth will be issued a special ‘Sovereign Share’ in Austal Defence Australia. This will grant the government oversight rights and, in certain situations such as a change of control in Austal Limited, the ability to buy out the subsidiary at fair market value. If triggered, Austal would also be required to transfer the Henderson shipyard and key personnel to ensure continuity of operations.
The agreement strengthens Austal’s already significant presence in Australian and global shipbuilding. With more than 350 vessels delivered over 35 years to customers in 59 countries, Austal is a seasoned player. It is also the only ASX-listed shipbuilder and remains one of just two foreign-owned firms building and sustaining vessels for the US Navy.
By anchoring its defence shipbuilding operations in Western Australia, Austal is poised to play a central role in delivering the nation’s naval capability well into the next decade. As strategic conditions continue to evolve, this move offers a blend of certainty, continuity and sovereign control — three things the government and military planners are increasingly looking for in their industrial partners.