Broken Hill Gold Ltd.

Notable vs. Peers

• Jurisdiction risk score of 10/10 is meaningfully safer than the peer average of 7.8/10.

Lifecycle Milestones

1. Permit granted

   Sep 2007 · Pacgold's own ASX announcement 'Pacgold to Acquire White Dam Gold Operation in South Australia' (6 October 2025), JORC Code 2012 Table 1 Section 2 tenement schedule, lists Mining Lease ML 6275 -- the operative lease covering the Hannaford and Vertigo pits and the heap leach pad -- as Granted with a start date of 11 September 2007, alongside associated mining purpose leases MPL 95 (11 Sep 2007), MPL 105/106/107 (24 Jan 2008), MPL 6395 and MPL 139 (8 Dec 2011), and exploration licences EL 6299/6435/5727 (2013-2015). White Dam's mining approvals were granted years before Pacgold's Oct 2025 acquisition -- the site was originally developed and permitted under Polymetals/Exco, first gold poured April 2010, nearly three years after the ML 6275 grant date recorded here. White Dam North remains on an exploration licence only and will require a future mining-lease grant before mining there; that is a distinct, forward-looking tenement outside the scope of this row. Separately, Pacgold announced SA approval to commence heap-leach irrigation on 18 December 2025 (Mining.com.au, 'Pacgold approved for heap leach irrigation at White Dam') ahead of the first-pour restart reported 9 April 2026 -- an operational approval under the already-granted lease, not a new grant, so not used as the achievedDate. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Implied by the decision to restart/recommission the White Dam heap-leach plant ahead of first pour -- a brownfield restart, not a new-build FID, so no separate formal 'construction decision' date was confirmed against a primary source this pass. · Source
3. Construction start

   Reached — date not disclosed · Recommissioning of the White Dam heap-leach plant ahead of first pour; a specific start date was not confirmed against a primary source this pass. · Source
4. First pour / production

   Apr 2026 · First gold pour (and a second dore pour shortly after) at the restarted White Dam heap-leach project, reported 9 Apr 2026. · Source
5. Commercial production

   Not yet reached

   Expected 5,000oz produced (contractual threshold, no date given); full production expansion planned 2027 · The commercial-production threshold for White Dam is contractually defined rather than date-guided: under the 6 Oct 2025 acquisition agreement with GBM Resources, A$2.2M of the A$4.8M consideration is contingent on reaching 5,000oz of gold production. No source reports that threshold being met. The 30 Jun 2026 quarterly describes only a 'Phase 1 restart strategy' and ramp-up toward 90,000t/month, with full production expansion planned for 2027. Window is an ounce threshold, not a calendar date, because that is what the company and counterparty actually agreed. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.