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Valiant Gold re-enters Comet mine, restart path clearer
Valiant Gold found lower-than-expected water levels and dry workings at the Comet mine, boosting confidence in a faster restart after the historic mine was shut in 2023.
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Valiant Gold (ASX:VAL) successfully re-entered the historic Comet gold mine in Western Australia, a milestone toward restarting production after the site was placed on care and maintenance in 2023. The company found water levels lower than expected and generally dry workings. Infrastructure was largely serviceable, according to a statement.
The mine was shut down by former owner Westgold Resources, which called the assets "not of scale" and inconsistent with a strategy focused on larger, higher-grade operations. Valiant, demerged from Westgold, now holds 100% of the Reedy and Comet projects. Those projects have a combined historical production of over one million ounces and a mineral resource of 1.2 million ounces.
Managing Director and CEO Brendan Tritton said initial observations were positive. "Water levels, ground support and infrastructure all presenting favourably," he said. "These findings strengthen our confidence in the restart pathway as we advance engineering, mine planning, dewatering and site establishment activities."