Guess which $4 billion ASX 200 gold stock is rocketing today on big Canadian news

S&P/ASX 200 Index (ASX: XJO) gold stock Vault Minerals Ltd (ASX: VAU) is rocketing today.

Vault Minerals shares closed yesterday trading for $3.84. In early morning trade on Friday, shares are changing hands for $4.10 apiece, up 6.8%. That sees Vault commanding a market cap of around $4 billion.

For some context, the ASX 200 is up 1.6% at this same time amid renewed hopes for a US peace deal with Iran.

Here’s why Vault Minerals shares are charging ahead of those gains.

ASX 200 gold stock jumps on mine restart progress

Investors are bidding up Vault Minerals shares after the company announced that it has lodged a key regulatory permit to restart its Sugar Zone gold mine, located in the Canadian province of Ontario.

The ASX 200 gold stock said it submitted its fully certified Closure Plan Amendment (CPA) to the Ontario Ministry of Energy and Mines (MEM) following a formal invitation to do so.

Vault called the permit submission “a critical advancement in the regulatory pathway” for filing of the CPA for the Southern Tailings Management Facility (STMF). The company noted this supports its planned restart of underground development at the project in the first quarter of FY 2027 (Q1 FY 2027).

The miner is aiming to recommence processing and gold production at Sugar Zone in Q1 FY 2028.

Mining and processing activities were suspended at the mine in August 2023. Since then, the ASX 200 gold stock has completed an extensive drilling campaign of around 114,000 metres.

This exploration program culminated in an Ore Reserve of 2.3Mt at 5.4 g/t for 389,000 ounces of gold, and the addition of a third mining front at Sugar Zone South.

What did the local First Nations leadership say?

The ASX 200 gold stock said it was only able to lodge the permit following the successful completion of consultations with First Nations communities in the area.

Commenting on the planned restart of operations at the Sugar Zone gold mine, Netmizaaggamig Nishnaabeg chief Clyde Jacobs said, “Vault operates within Netmizaaggamig Nishnaabeg’s (NN) Aboriginal title lands and traditional territory.”

Jacobs added:

NN welcomes the completion of the Ministry’s technical review and supports the submission of the Sugar Zone Closure Plan Amendment as an important milestone toward the planned restart of operations.

NN is a strong voice who advocated for responsible development at Sugar Zone from the outset and appreciates Vault’s continued commitment to a respectful and mutually beneficial relationship grounded in environmental stewardship, meaningful employment and procurement opportunities, and long-term shared benefits on NN’s traditional lands.

The post Guess which $4 billion ASX 200 gold stock is rocketing today on big Canadian news appeared first on The Motley Fool Australia.

More reading

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• 4 ASX 200 shares tipped to jump another 50% to 60%

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.