Westgold Resources Ltd · ASX:WGX

Westgold Resources — Investor Presentation (November 2024)

28 slides from Westgold Resources's investor presentation, Nov 20, 2024

  1. Slide 1: Investor Update November 2024

    ASX / TSX: WGX INVESTOR UPDATE November 2024 1

  2. Slide 2: Important Notices and Disclaimer

    Important Notices and Disclaimer Investor Presentation Not Investment Advice This investor presentation is dated 20 November 2024 and has been prepared by Westgold Resources Limited (ASX: This presentation does not constitute in any way an offer or invitation to subscribe for securities in Westgold

  3. Slide 3: Important Notices and Disclaimer

    Important Notices and Disclaimer Historical Information The information in this presentation that relates to Westgold’s Ore Reserve is based on information compiled by Mr. Leigh Devlin B.Eng. FAusIMM and who has verified, reviewed and approved such information. Mr. Devlin has sufficient Information

  4. Slide 4: Corporate Snapshot

    Corporate Snapshot c Share Price Cash & Equivalents[2] A$2.71 (18 Nov 2024) A$103M Broker cover Shares Outstanding Debt[3] 943.1m A$ 50M Broker Analyst Market Capitalisation[1] Ore Reserves [4] Macquarie Andrew Bowler ~A$2.6Bn 3.3Moz [1] Canaccord Genuity Tim Mccormack Enterprise Value Mineral Resou

  5. Slide 5: Westgold in FY25

    Westgold in FY25 The “challenger" brand in the Australian gold sector An established, top 5 ASX / top 10 Unhedged gold producer – offering TSX gold producer with ~A$2.6Bn investors full exposure to gold price market cap[1] escalation Established portfolio of producing mines and extensive landholding

  6. Slide 6: A Portfolio That Can Deliver Growth

    A Portfolio That Can Deliver Growth Two strategic WA footprints – fully unhedged gold production LEGEND FY25 +400 kozpa Au[1] Operating mines Processing plants Southern Goldfields + Murchison Western Australia Starlight Beta Hunt Higginsville Bluebird Fortnum Murchison Big Bell Bluebird Two Boys Lak

  7. Slide 7: Growing Reserves and Resources

    Growing Reserves and Resources 1 Mineral Resources Ore Reserves Measured 11% Proven Inferred 29% 38% 13.2Moz 3.3Moz 51% 71% Indicated Probable +69% +60% 3,304 13,160 2,643 2,649 2,620 2,555 1,244 9,857 4,650 2,208 2,116 9,345 9,118 8,799 1,954 7,947 7,940 8,250 8,511 2,060 FY17 FY18 FY19 FY20 FY21 F

  8. Slide 8: Owner Operators - Who Drill

    Owner Operators - Who Drill ~170 pieces of heavy 16 diamond drill rigs 2,127 employees UG equipment and contractors 8

  9. Slide 9: The Plan

    The Plan Larger mines feeding larger mills - reducing costs and increasing margin In the Murchison In the Southern Goldfields Asset Review Bluebird-South Junction Beta Hunt Right size the package • Increase mine scale to >1.2Mtpa • Expansion to >2Mtpa • Re-rank assets across 3,200km2 • Reduce haulag

  10. Slide 10: The Engine Rooms for Growth

    The Engine Rooms for Growth Bluebird – South Junction Mine Meekatharra (Murchison) Great Fingall Mine Cue (Murchison) Beta Hunt Mine Kambalda (Southern Goldfields) Higginsville Exploration Pipeline 1,900 employees Higginsville (Southern Goldfields) and contractors 10

  11. Slide 11: Bluebird – South Junction

    The picture can't be displayed. Bluebird – South Junction  Key growth driver in the Murchison  Bluebird – South 1 Junction Ore Reserve increased to 3.0Mt @ 2.8g/t Au for 277koz  Updated Mineral Resource Estimate2 of 15Mt @ 2.9g/t Au for 1.4Moz - featuring a Measured and Indicated component of 8.7

  12. Slide 12: South Junction ramping up

    South Junction ramping up  First production in August 2024  Width of the South Junction orebody enables a highly productive primary / secondary transverse stoping method  Will significantly increase production from the Bluebird – South Junction system  Production rate of 1.2Mtpa - from Bluebird-

  13. Slide 13: Polar Star – the mining front

    Polar Star – the 3 mining front rd  Record Polar Star Lode drill intercept1 of 13.71m @ 18.02g/t Au from 563.00m (incl 5.85m @ 36.37g/t Au from 567.00m) for 247 gram-metres in hole 24SJDD028  Drilling continues, two surface and two underground drill rigs in operation  Mining studies underway  Up

  14. Slide 14: Great Fingall – On Track

    Great Fingall – On Track 1  Great Fingall Ore Reserve of 1.9Mt @4.2g/t Au for 256koz / Golden Crown 230kt @4.52g/t for 33koz  Great Fingall Mineral Resource Estimate1 of 2.5Mt at 4.64g/t Au for 372koz / Golden Crown 1.28Mt @5.41g/t for 222koz Decline Progress Nov’24  Long-life, high-grade, high-m

  15. Slide 15: Beta Hunt – A large, under-drilled gold deposit

    Beta Hunt – A large, under-drilled gold deposit  7km footprint  Southern 3km largely untested  4 key orebodies discovered to date  Western Flanks the largest (~1.6Moz)1  Orebodies offset - along the Alpha Island Fault (AIF)  Current Mineral Resources of 30.59Mt @ 2.7g/t Au for 2.65Moz1  Curre

  16. Slide 16: Beta Hunt to > 2Mtpa

    Beta Hunt to > 2Mtpa  A premier gold mining district with +20Moz Gold endowment  Situated in the heart of Gold Fields' St Ives operations  Operating nickel mine since 1970’s (by WMC)  Acquired by Karora / RNC in 2016  Over A$2Bn of sunk infrastructure capital able to be leveraged  Gold potenti

  17. Slide 17: Fletcher Zone – The Next Western Flanks?

    Fletcher Zone – The Next Western Flanks?  Fletcher potential identified in 2016:  not advanced until 2023  Parallel structure to the 1.6Moz Western Flanks – same style of mineralisation ~300m to west  Outstanding early drill results returned over 2km of strike1  Fletcher Exploration Target2: 23

  18. Slide 18: Higginsville – the wild card

    Higginsville – the wild card  Limited real exploration expenditure over the last +10 years  WGX ~2,000km2 of tenure traversed by three key structures which regionally control +80Moz Au  Boulder Lefroy Fault  Speedway Shear  Zuleika Shear  Westgold accelerating exploration activities across the

  19. Slide 19: Higginsville Exploration Pipeline

    Higginsville Exploration Pipeline RC & DD Drilling Ore Reserve Resource Modelling Target Size Generated Pioneer Feasibility Studies Two Boys Spargos <50koz Trident Mitchell 50 - 100koz Mineral Selene Atreides RC & DD Drilling Resource Musket Resource Modelling 100 - 250koz Chalice Generated Lady All

  20. Slide 20: FY25 Guidance

    FY25 Guidance \\\WESTGOLD

  21. Slide 21: FY25 Guidance

    FY25 Guidance Post merger – production back-ended in H2 FY25 FY25 Guidance FY25 Q1 Actual • Production upside potential: o Polar Star Lode at South Junction (H2, FY25) Production (oz) 400,000 – 420,000 77,269 o Third party ore purchase (Q3, FY25) o Fletcher zone (H2, FY25) AISC (A$/oz) 2,000 – 2,300

  22. Slide 22: WGX – The Value Proposition

    WGX – The Value Proposition Top 5 ASX / Top Financial Unhedged 10 TSX producer Strength One of Australia’s Robust balance sheet Production capacity of largest fully unhedged with A$250M undrawn +400,000 ozpa gold producers facilities Shareholder Portfolio has Growth Diversification Returns is Our sc

  23. Slide 23: Thank you.

    Contact Information: Investor Relations Annette Ellis| Investor Relations Manager Annette.ellis@westgold.com.au Thank you. +61 458 200 039 Investor Relations – North America Rob Buchanan | CPIR Rob.Buchanan@westgold.com.au +1 416-309-0600 ASX: WGX | TSX:WGX | OTCQX: WGXRF westgold.com.au

  24. Slide 24: Safety and sustainability deliver results

    Safety and sustainability deliver results Safety Sustainability • Substantial reduction (18%) in TRIFR in FY24 All Murchison operating mines and mills running • Uptick in TRIFR in Q1, FY25 to 7.37 following on hybrid power which now can: Karora merger – additional resources deployed 22.9 Generate 82

  25. Slide 25: Mineral Resource Statement: Operating Mines

    Mineral Resource Statement: Operating Mines At 30 June 2024 [1],[2] Murchison Gold Operations (Rounded for reporting) Measured Indicated Measured and Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Project Grade Grade Grade Grade Grade ('000s) Au ('000s

  26. Slide 26: Mineral Resource Statement: Non-Operating Projects

    Mineral Resource Statement: Non-Operating Projects At 30 June 2024 [1],[2] Murchison Gold Operations (Rounded for reporting) Measured Indicated Measured and Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Project Grade Grade Grade Grade Grade ('000s) Au

  27. Slide 27: Ore Reserves Statement: Operating Mines

    Ore Reserves Statement: Operating Mines At 30 June 2024 [1],[2] Murchison Gold Operations (Rounded for reporting) Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell UG 9,808 1.48 467 4,898 3.10 4

  28. Slide 28: Ore Reserves Statement: Non-Operating Projects

    Ore Reserves Statement: Non-Operating Projects At 30 June 2024 [1],[2] Murchison Gold Operations (Rounded for reporting) Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell District 0 0.00 0 59 2.

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