ASX-listed Emmerson Resources has announced the start of commercial gold production at the Nobles project, operated by its joint venture (JV) partner Tennant Mining – a wholly owned subsidiary of London-listed Pan African Resources.

The 840 000 t/y carbon-in-leach (CIL) gold processing facility, located 14 km south-east of Tennant Creek, is now operational, Emmerson said on Friday, noting that current production was from deposits wholly owned by Tennant, with the processing of JV-owned resources yet to be scheduled.

While timing for processing of JV deposits and associated royalty payments remained to be determined, Emmerson reminded shareholders that, should Tennant Mining fail to produce 60 000 oz from the JV tenements by mid-May 2026 (30 000 oz by mid-March and a further 30 000 oz by mid-May), minimum production payments would apply. These payments would be equivalent to a 6% gross production royalty on any shortfall in the 60 000 oz target.

Based on Pan African Resources’ initial production profile, a production shortfall of between 57 500 oz and 60 000 oz is anticipated, which would result in a royalty payment of about $18-million to Emmerson. These payments were expected to be made in stages between April and August 2026.

“On behalf of the Emmerson team, I would like to congratulate the Tennant Mining and Pan African Resources teams on achieving commercial gold production at the 840 000 t/y Nobles CIL facility,” said Emmerson MD Mike Dunbar.

“To achieve commercial gold production just four-and-a-half years after signing the exploration JV with Emmerson and securing a number of other leases in their own name in the Tennant Creek district is a fantastic achievement,” Dunbar continued. “We look forward to working with the expanded team as development of the JV-owned gold deposits is undertaken in the coming years and look forward to receipt of the 6% uncapped gross gold production royalty from the Small Mines JV deposits.”

“We also look forward to working with the Tennant Mining and Pan African teams on the evaluation and future development of the 611 400 oz White Devil Gold project, which we anticipate will be a major mine development opportunity, where ERM will be a 40% contributing JV partner.”

Emmerson said it remained focused on unlocking further value across the Tennant Creek mineral field and growing its current 987 000 oz mineral resource base.

“With significant further exploration potential in the area, we are keen to add to the 987 000 oz gold mineral resource base and look forward to contributing to our ongoing JV exploration efforts in the Tennant Creek Mineral Field with both Tennant Mining and Pan African,” said Dunbar.

He noted that Emmerson will also continue advancing its 100%-owned gold/copper projects in collaboration with its Copper Alliance Partners, CuFe Limited and Tennant Minerals, as part of a broader strategy to develop high-grade polymetallic deposits.