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Vault Minerals meets guidance as growth projects advance

Vault Minerals hit production targets and advanced its growth projects.

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Laura Stewart

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Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry.

Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses.

Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets.

Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep.

Education

Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning.

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The Vault Minerals Ltd (ASX: VAU) share price is in focus after the company reported Q4 gold production of 89,338 ounces, bringing its FY26 output to 336,540 ounces and meeting full-year guidance. Vault also highlighted a strong cash generation of $219 million in the quarter, strengthening its balance sheet.

Smiling mine worker at mining site with colleagues.

Image source: Getty Images

What did Vault Minerals report?

  • Q4 gold production: 89,338 ounces
  • Full-year FY26 gold production: 336,540 ounces (14% increase quarter-on-quarter)
  • Q4 gold sales: 87,922 ounces; FY26 sales: 334,901 ounces
  • Underlying free cash flow: $219 million in Q4
  • Cash and bullion at year end: $842 million, with no debt and fully unhedged
  • Maiden dividend and share buyback returned $74.3 million to shareholders in FY26

What else do investors need to know?

Vault completed Stage 1 of its King of the Hills (KoTH) processing upgrade on time and on budget in March 2026. The new crushing circuit is already running above its 8 million tonnes per annum target, with Stage 2 now 71% complete and tracking ahead of schedule for a planned September 2026 completion. Underground development at the Sugar Zone operation resumed at the start of July, following the approval of a Closure Plan Amendment. These development activities will support a targeted processing plant restart in early FY28.

What's next for Vault Minerals?

Looking ahead, Vault plans to ramp up underground works at the Sugar Zone in FY27, generating ore stockpiles and waste rock for site construction. With a strong cash position and all gold hedges extinguished, the company sees itself well placed to deliver its ongoing growth strategy across its operational portfolio. Completion of the KoTH processing upgrades in the coming months remains a key operational milestone, aimed at increasing site capacity by 50% and reinforcing Vault's presence as a regional leader.

Vault Minerals share price snapshot

Over the past 12 months, Vault Minerals shares have risen 60%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 2% over the same period.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

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