Vault Minerals (ASX:VAU) will transition load and haul operations at the King of the Hills (KoTH) open pit in Western Australia to an owner-operator model, effective Jan. 1, 2027, according to a Wednesday filing with the Australian bourse.

The transition follows the expiry of the current mining services contract on Dec. 31, 2026, and is underpinned by the increase in KoTH open pit ore reserves, which supports a 13-year life-of-mine, the filing said.

Stockpiles from this period will supply baseload mill feed for Leonora operations for another five years.

The company maintained its fiscal year 2026 Leonora gold production guidance of 185,000 to 200,000 ounces and all-in sustaining cost of AU$2,650 to AU$2,850 per ounce, per the filing.

Shares fell 4% in midday trade on Wednesday.