TG Metals goes for gold with Van Uden as lithium takes a back seat and stockpiles line up for cash flow in the shadow of record bullion prices

TG Metals is charging into the second half of 2025 with a decisive pivot from lithium to gold, showcasing the Van Uden Gold Project at the RIU Sydney Resources Round-up. The company’s CEO, David Selfe, cut a confident figure at the event, presenting a story of swift progress, strategic location, and strong upside potential.

“We’ve immersed ourselves so much in gold that now I’m wearing it,” Selfe joked, referencing his golden blazer before diving into the details of the Forrestania-based asset. “This is not a fly-by-night thing. We’re going to be dedicated to this—and we’re going to get into production pretty soon.”

A walk-up gold play

Located just 130 km from TG Metals’ Lake Johnston Lithium Project, the Van Uden Gold Project sits in the richly mineralised Forrestania–Southern Cross Greenstone Belt. With four granted mining leases and existing haul road and power infrastructure, it’s a brownfield opportunity that is already delivering value.

The centrepiece is the Tasman open pit, historically mined at 2.54 g/t Au from 136,023 tonnes, with mineralisation open down-dip and along a 2.5 km strike length. The pit was last worked when gold prices were near historic lows—“$300 an ounce in the late ’90s,” Selfe pointed out. “That’s 11 times less than what it is today.”

From drill rigs to cash flow

Much of the presentation focused on Van Uden’s near-term production potential. TG Metals is targeting low-hanging fruit in the form of historical stockpiles—once deemed low grade under a 1.5 g/t cutoff, but now considered viable in today’s price environment.

“We’re aiming to shift those stockpiles into a nearby plant and start generating cash flow before the end of the year,” Selfe said. A Program of Works was approved just a day before his presentation, clearing the path for sonic core drilling of stockpiles this month.

An updated JORC 2012-compliant Mineral Resource Estimate (MRE) is expected imminently, integrating historical drilling with 2020–2024 campaigns and extensive laterite mineralisation overlooked in past models.

Modern eyes on old ground

According to Selfe, exploration manager Trevor Saul has reinterpreted the Van Uden geology, identifying a newly modelled flat structure intersecting the Van Uden Shear Zone. “That’s where we’re seeing blowouts—up to 30 metres wide,” said Selfe. “These zones just weren’t touched in the 2004 resource.”

This reinterpretation is being used to prioritise high-grade extension targets for further RC and diamond drilling. Additional exploration focus includes the Diemens open pit—only 25 metres deep and mined during a 1990 heap leach trial—and the Gold City prospect, where multiple lodes have been identified but no production records exist.

Corporate positioning

TG Metals is relatively lean, with a $10 million market cap and $2 million in cash. The company retains a tight share registry, with founders and top 50 shareholders holding over 85 percent combined. “A lot of people still don’t know we’re in gold,” Selfe admitted. “But we’ve got a very strong board and management team keeping us focused.”

Lithium still on the radar

While the spotlight is now on gold, lithium is far from shelved. “The proximity to Lake Johnston means we’re not skimping on resources,” said Selfe. “We can advance both projects using the same team.” The company is banking on the dual-commodity model to hedge risk and capitalise on market cycles.

Outlook

With gold trading above USD 3,000 and Van Uden’s mining leases, access roads, and processing options already in place, TG Metals is eyeing production by year-end. “Once we’ve finalised the resource and pit designs, we’ll lodge our first mining proposal,” Selfe confirmed. “The approvals process is already underway.”

From a geological reinterpretation to a fast-tracked pathway into production, TG Metals’ Van Uden play is shaping up as a textbook revival of a legacy gold asset—updated for a modern, high-price environment and ready to ride the current bull cycle.