Savannah Goldfields Ltd (ASX: SVG), an Australian gold explorer and producer with projects in Queensland, primarily focused on its Georgetown and Agate Creek gold assets, has released its Quarterly Activities Report for the period ended 30 September 2026. The company temporarily ceased gold production at its Georgetown Gold Processing Plant (GGPP) in early September, having completed processing available ores. During the quarter, 501 ounces of gold and 234 ounces of silver were sold, generating total revenue of $2,964,833. Average realised prices were $5,883 per ounce for gold and $86 per ounce for silver, though gold production was negatively impacted by grade underperformance from Big Reef’s Inferred Mineral Resource.
Preparations for resuming mining at Agate Creek are advancing, now planned for the second quarter of 2027, post wet season. This follows the completion of mining the Big Reef open pit in June. A key environmental milestone was achieved on 7 July with the approval of the Agate Creek Environmental Authority amendment, enabling expanded mining operations. Gold production at the GGPP is expected to recommence in May 2027, approximately one month after mining restarts. The company anticipates improved unit production costs by focusing on higher confidence Ore Reserves and is also progressing an expansion and upgrade of the GGPP Tailings Storage Facility.
Exploration efforts continued at the Red Dam Prospect within the Georgetown project, completing 15 Reverse Circulation (RC) drill holes totalling 1,255 metres in October to extend the existing Mineral Resource. Samples are undergoing laboratory analysis, with results pending. Eight water monitoring bores were also established at Electric Light and Red Dam for future environmental permitting. Corporately, Savannah Goldfields is advancing a material financing transaction and seeking approval for amendments to convertible note terms, including maturity extensions. DGR Global Limited has initiated proceedings for recovery of claimed amounts related to a royalty agreement. Savannah’s securities remain suspended pending the lodgement of its FY26 Annual Report and finalisation of financing.
