Codan Confirms: New High-End Minelab Gold Detector

On 19 February, Codan Limited released its latest financial update, confirming what many in the gold industry have been sensing - Minelab is not slowing down.

In fact, it is accelerating.

Strong First Half for Innovation

During H1 FY26, Minelab launched three new and upgraded products:

• Minelab Gold Monster 2000
• Minelab Vanquish 60 (upgraded series)
• Minelab MDS-20 (Mine Detector)

Codan reported very positive customer feedback on the Gold Monster 2000, highlighting strong interest in its improved performance and ease of use. From what we are seeing on the ground, that lines up. The GM 2000 has clearly resonated with entry-level and experienced operators alike.

The Vanquish 60 upgrade further strengthens Minelab’s position in the accessible, multi-purpose detecting market, while the MDS-20 expands Minelab’s reach into military applications, reinforcing the depth of its engineering capability.

A New High-End Gold Detector Is Weeks Away

The standout line in the 19 February report was clear:

A new high-end gold detector is scheduled for release in the coming weeks.

This confirms that Minelab is continuing its structured rollout of innovation across its portfolio.

Codan previously confirmed that four new detectors are scheduled for release during FY26, with revenue benefits beginning this financial year and flowing fully into FY27.

For serious gold operators, this signals one thing: the top end of the market is about to move again.

What This Means for Australian Prospectors

Minelab has long led the high-performance gold detection space in Australia. A new high-end release suggests:

• Continued investment in advanced gold technology
• Ongoing engineering development at the premium end
• A clear strategy to strengthen revenue and market leadership

It is important to note that no specifications, pricing or performance details have been released at this stage. The information above comes directly from Codan’s public financial reporting.

However, the language used indicates a continuation of Minelab’s cadence of innovation.

For prospectors operating in highly mineralised Australian ground, particularly those chasing depth and performance, the coming weeks will be significant.

Industry Context

Minelab’s innovation cycle has historically driven major shifts in the gold detecting market. When a high-end machine launches, it does not just introduce a new product - it often reshapes secondhand values, upgrade decisions and field strategy.

With four detectors scheduled during FY26, it is clear this is not a one-off announcement. It is part of a broader product roadmap.

Final Word

From a business perspective, Codan’s update confirms strong ongoing investment into Minelab’s detection technology leadership.

From a prospector’s perspective, it suggests the next chapter in high-end gold detection is close.

As more information becomes publicly available, we will continue to share updates.