Valiant Gold reported continued progress on restarting its wholly owned Comet Gold Mine in the Murchison region of Western Australia. The company said underground re-entry in July 2026 found lower-than-expected water levels, generally dry workings, serviceable infrastructure and limited rehabilitation requirements in the initial production areas.
Dewatering is progressing at Comet and Pinnacles, with the water level standing at the 1270 Level, or 170 metres below surface, according to Valiant. The company is targeting completion of the initial Pinnacles dewatering program before the end of Q2 FY27, while dewatering of the Comet decline is anticipated during the second half of FY27.
The company said preparatory work for a 6.1 MW power station is under way, with installation and commissioning planned by the end of October 2026. Primary ventilation fans have been installed in the Comet and Pinnacles workings and are expected to enter full service alongside establishment of site power.
Valiant said its Comet Restart Study remains targeted for completion in Q2 FY27. The study is intended to consolidate the mine plan, execution requirements and sequencing, and is expected to underpin a preliminary restart mining schedule. The company continues to target first production in H2 FY27, while cautioning that forward-looking statements are not guarantees of performance.
Source: Download VAL official ASX announcement, 2026-10-14.
Primary ventilation fan installation at the Pinnacles underground workings, from Valiant Gold's 14 October 2026 company announcement.