24 slides from Westgold Resources's shareholder meeting presentation, Nov 22, 2017
Slide 1: Annual General Meeting FY 2016-2017
ASX:WGX For personal use only ANNUAL GENERAL MEETING FY 2016 - 2017 Wednesday 22 November 2017 1
Slide 2: Westgold - Corporate Profile
Westgold - Corporate Profile For personal use only Corporate structure (ASX:WGX) Board Non-executive Chairman Peter J. Newton Issued Shares 320.8 million Managing Director Peter G. Cook Share Price A$ 1.85 Director of Operations Steve Norregaard Market Cap ~A$ 595m Non-Executive Director Peter B. Sc
Slide 3: A Positive first year as a listco
A Positive first year as a listco For personal use only Financials – 30 June Year End Revenue A$ 437 million (up 43.5%) Cash Flow A$ 75.6 million (up 52%) Gross Profit A$ 31.5 million Net Profit Before Tax A$ 24.6 million (up 185%) Net Profit After Tax A$ 15.8 million (up 177%) Cash & Cash Equiv. at
Slide 4: Westgold – The new force in Australian Gold Production
Westgold – The new force in Australian Gold Production For personal use only 5 Processing Plants – 6.5mtpa of capacity. 10 open pits (another 10 in pipeline more) 4 underground mines (another 5 planned) 16+ million ounce resource base 3.38 m ounce ore reserve ~267,000 oz in 2016/17 going above 400,0
Slide 5: Gold Production Profile – Purely West Australian
Gold Production Profile – Purely West Australian For personal use only 1 million tpa 1.8 million tpa 1.2 million tpa 1.2 million tpa 5 1.3 million tpa
Slide 6: Gold Production Profile – Westgold Group FY2017
Gold Production Profile – Westgold Group FY2017 For personal use only Quarterly Gold Prod'n and A$ Costs Gold Prod'n Cash Cost/oz AISC/oz 80,000 1400 70,000 1200 60,000 1000 QTR PROD'N OZ COST PER OZ 50,000 800 40,000 600 30,000 400 20,000 10,000 200 0 0 Sep Q 2016 Dec Q 2016 Mar Q 2017 Jun Q 2017 G
Slide 7: Growth in Annual Gold Output
Growth in Annual Gold Output For personal use only 380,000 – 420,000 oz 380,000 – 420,000 oz 450,000 310,000 – 340,000 oz 400,000 350,000 267,000 oz 300,000 250,000 200,000 150,000 100,000 50,000 0 2017FY(a) 2018FY(fcst) 2019FY(fcst) 2020FY(fcst) Future AISC (forecast) (A$1,220/oz – A$1,270/oz ) 7
Slide 8: CMGP – The Main Project
CMGP – The Main Project For personal use only 8
Slide 9: Central Murchison Gold Project (CMGP)
Central Murchison Gold Project (CMGP) For personal use only CMGP 2017 GOLD PRODUCTION & A$ COSTS 30,000 1600 1400 QTR GOLD PROD'N OZ 25,000 1200 20,000 COST PER OZ 1000 15,000 800 600 10,000 400 5,000 200 0 0 Sep Q 2016 Dec Q 2016 Mar Q 2017 Jun Q 2017 CMGP Gold Prod'n 23,014 26,537 23328 28,460 CMG
Slide 10: CMGP – The Main Project: Historic Production
CMGP – The Main Project For personal use only HISTORIC PRODUCTION Meekatharra Gold Operations (MGO) Cue Gold Operations (CGO) 1 0
Slide 11: CMGP – Meekatharra Gold Operations (MGO)
CMGP – Meekatharra Gold Operations (MGO) For personal use only HISTORIC PRODUCTION 1 1
Slide 12: MGO (GMGP) - The Paddy's Flat Mine
MGO (GMGP) - The Paddy’s Flat Mine For personal use only 12
Slide 13: MGO (GMGP) - Reedy's Mining Centre
MGO (GMGP) - Reedy’s Mining Centre For personal use only 13
Slide 14: CMGP – Cue Gold Operations (CGO)
CMGP – Cue Gold Operations (CGO) For personal use only HISTORIC PRODUCTION 1 4
Slide 15: CGO – Comet Gold Mine
CGO – Comet Gold Mine For personal use only Historic Production 15
Slide 16: CGO – The Big Bell Mine
CGO – The Big Bell Mine For personal use only 16
Slide 17: CGO – The Great Fingall Mine Complex
CGO – The Great Fingall Mine Complex For personal use only Golden Crown Great Fingall 17
Slide 18: Fortnum Gold Project (FGP)
Fortnum Gold Project (FGP) For personal use only First Full quarter of commissioning on LG 7,981 oz’s produced Targeting a steady state blended feedstock of : Open Pit Ore 500,000tpa @ 1.7g/t Underground Ore 360,000 tpa @ 3.5g/t Low Grade 140,000 tpa @ 1.0g/t ---------------------------- Annual Feed
Slide 19: Eastern Goldfields Projects
Eastern Goldfields Projects For personal use only South Kalgoorlie Operations (SKO) 1.2 million tpa CIL Plant Higginsville Gold Operations (HGO) 1.3 million tpa CIL Plant 14
Slide 20: Higginsville Gold Operations
Higginsville Gold Operations For personal use only HGO Gold Prod'n & A$ Costs QTR GOLD PROD'N OZ 30,000 1800 1600 COST PER OZ 25,000 1400 20,000 1200 1000 15,000 800 10,000 600 400 5,000 200 0 0 Sep Q Dec Q Mar Q Jun Q2017 2016 2016 2017 HGO Gold Prod'n 27,089 26,031 15,267 16,208 HGO Cash Cost/oz 1
Slide 21: South Kalgoorlie Operations (SKO)
South Kalgoorlie Operations (SKO) For personal use only SKO Gold Prod'n & A$ Costs QTR Gold Prod'n OZ 30,000 1400 1200 COST Per oz 25,000 20,000 1000 15,000 800 600 10,000 400 5,000 200 0 0 Sep Q Dec Q Mar Q Jun Q 2016 2016 2017 2017 Gold Prod'n 15,164 22,566 25,544 15,641 Cash Cost/oz 1240 1001 765
Slide 22: Ahead of the game – Owner Operator
Ahead of the game – Owner Operator For personal use only • The acquisition of Australian Contract Mining – Private Specialist Underground Mining Contractor • Lower our unit costs to the lowest possible. • Have inherent flexibility to change and vary scopes of work. • All the gear fleet and people to
Slide 23: Total Gold Inventory by JORC Category & Project
Total Gold Inventory by JORC Category & Project For personal use only WESTGOLD RESOURCES LIMITED WESTGOLD RESOURCES LIMITED Gold Division Gold Division Mineral Resource Statement - Rounded for Reporting Mineral Reserve Statement - Rounded for Reporting 30/6/17 30/6/17 Project k Tonnes Grade k Ounces
Slide 24: Disclaimer
Disclaimer For personal use only JORC Compliance Statement Competent Persons Statements The information in this report that relates to Exploration Results and Mineral Resources and Ore Reserves is based on information compiled Mr Jake Russell B.Sc. (Hons) MAIG, Mr Paul Hucker B. Eng (Hons) MAIMM, an