The All Ordinaries Index (ASX: XAO) is up 0.3% today with plenty of help from one surging ASX All Ords gold stock.
The outperforming miner in question is Native Mineral Resources Holdings Ltd (ASX: NMR).
Native Mineral shares closed yesterday trading for 10 cents. In early morning trade on Tuesday, shares are changing hands for 11 cents apiece, up 10%. And that's despite the gold price slipping 1% overnight to US$4,992 per ounce.
With those intraday gains factored in, investors who bought the ASX All Ords gold stock on 2 January this year will already be sitting on gains of 83.3%. Not a bad start to the new year!
Now, here's what's grabbing investor interest once more today.
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ASX All Ords gold stock surges on gold pour
The Native Minerals share price is rocketing after the miner reported on Monday that it completed a major gold pour at its Blackjack Processing Plant in Queensland.
The ASX All Ords gold stock produced seven doré bars comprised of 1,543.5 ounces of gold.
"Yesterday's gold pour demonstrates the continued operating stability of our Blackjack processing team, with seven doré bars produced and safely prepared for refining," Minerals managing director and CEO Blake Cannavo said. "In parallel, we are progressing a focused set of reliability, safety and growth workstreams."
What else is happening with Native Minerals?
Native Minerals said it has scheduled a shutdown this week to complete maintenance, inspection, and reliability works across Blackjack's crushing, grinding, and leaching circuits. The work being undertaken is intended to support stable throughput and improved operating reliability at the plant.
"An 84-hour planned shutdown is scheduled this week across the crushing and leaching circuits to complete maintenance and uplift plant reliability," Cannavo said. "Ausenco is also progressing whole-of-plant P&ID [piping and instrumentation diagram] as-built verification and an ongoing HAZOP to support safe operations and continuous improvement."
The ASX All Ords gold stock reported that it has also engaged AMC Consultants to progress block model updates, pit optimisation, detailed pit design, and production scheduling using the completed reverse circulation (RC) drilling assay dataset.
"On the mining side, AMC is advancing block model updates, pit optimisation and detailed mine design to support sustained mill feed planning, while Podosky assay results are expected shortly," Cannavo said.
Commenting on the rest of the work being undertaken, Cannavo added:
Across the broader Charters Towers portfolio, our ERC and PRCP workstreams continue to progress, including finalisation of the Far Fanning traffic impact assessment, permanent water supply options for Blackjack as well as ongoing TSF Stage 4 and new TSF design activities with ATC Williams.
