Padenga Holdings’ Eureka Gold Mine is strengthening its role as the group’s core asset, delivering higher output while significantly extending its operational lifespan, according to the company’s latest analyst briefing.

Production at Eureka rose 9% year-on-year, supported by improvements in throughput, recovery rates and feed grade.

Ore milled increased to 1.43 million tonnes, while incremental gains in recovery and grade contributed to higher gold output, the company said.

More significantly, Padenga has revised the mine’s pit design, deepening operations to 440 meters from 280 meters, a move expected to extend the life of mine from 2030 to 2039.

The redesign is projected to add approximately 15 tonnes of gold to the resource base, reinforcing the asset’s long-term production outlook.

The company also ramped up exploration, drilling 18,453 meters in 2025, compared with just over 2,000 meters the previous year, as it seeks to further define the resource.

Results from the drilling campaign are expected to feed into an updated resource model in 2026, potentially unlocking additional value.

The expansion, however, comes with trade-offs. The larger pit will require increased waste stripping through 2029, which the company said is likely to raise operating costs in the medium term.

Even so, the developments position Eureka as a cornerstone asset within Padenga’s mining portfolio, anchoring future production growth.