Javelin Minerals Secures Mining Deal to Fast-Track Eureka Project

Javelin Minerals Limited (ASX: JAV) announced that at the time of writing it has signed a Right to Mine agreement with MEGA Resources to develop the Eureka Gold Project near Kalgoorlie, Western Australia. MEGA will fully fund operations, provide up to AU$25 million in working capital, and manage mining, haulage, geological, and engineering services. Profits from the planned mine will be split 50:50, while Javelin will receive 70% of profits from additional resources beyond the current mine plan.

Javelin will also receive monthly pre-payments of AU$250,000 once production begins. Mining is expected to commence in the June quarter of 2026, subject to approvals and final processing agreements. In parallel, Javelin raised AU$4.5 million in a placement, with MEGA contributing AU$1 million, and plans a 1-for-31 share consolidation. A new drilling program is being designed to expand the resource base.

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