Westgold Resources Ltd · ASX:WGX

Westgold Resources — Q2 FY2025 Earnings Presentation

29 slides from Westgold Resources's earnings presentation, Jan 23, 2025

  1. Slide 1: Westgold Resources Limited Q2, FY25 Quarterly Results

    ASX : WGX | TSX : WGX For personal use only Westgold Resources Limited westgold.com.au Q2, FY25 Quarterly Results

  2. Slide 2: Important Notices and Disclaimer

    Important Notices and Disclaimer Investor Presentation Summary Information This investor presentation is dated 23 January 2025 and has been prepared by Westgold Resources Limited (ASX: WGX, By reviewing or retaining these materials, or attending or participating in this presentation, you acknowledge

  3. Slide 3: Important Notices and Disclaimer

    Important Notices and Disclaimer Forward-looking Statements Ore Reserves and Mineral Resources This document contains “forward-looking information” and “forward-looking statements” which are based on the This presentation refers to Westgold having a combined Ore Reserve and Mineral Resource estimate

  4. Slide 4: Important Notices and Disclaimer

    Important Notices and Disclaimer JORC CODE It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the JORC Code. Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of Westgold in this p

  5. Slide 5: A half to stabilise the expanded business

    A half to stabilise the expanded business  $1.4B Merger with TSX Karora Resources completed on 1 August 2024  Prioritising capital projects - investing in critical mine infrastructure and resource For personal use only drilling  Concurrently expanding Bluebird and Beta Hunt underground mines  Ne

  6. Slide 6: FY25 Guidance

    FY25 Guidance Outputs anticipated to increase in H2 FY25 FY25 Guidance FY25 Q1 Actual FY25 Q2 Actual FY25 YTD Actual For personal use only Production (oz) 400,000 – 420,000 77,369 80,886 158,255 AISC (A$/oz) 2,000 – 2,300 2,422 2,703 2,561 Growth Capital (A$M) 235 58 56 114 Exploration (A$M) 50 14 9

  7. Slide 7: Production & Costs

    Production & Costs 77,369 80,886 1. Record production of 80,886oz 59,238 Gold 52,100 52,795 production (oz) 2. Higher total AISC cost incorporating full quarter of Southern Goldfields For personal use only Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 3. Higher quarter on quarter AISC/oz due 4,066 3,723 A

  8. Slide 8: Investment in mine expansions and infrastructure to enhance productivity

    Investment in mine expansions and infrastructure to enhance productivity Bluebird annualised mining rate (Mtpa) Beta Hunt annualised mining rate (Mtpa) Primary vent, rising 0.62 1.90 main faults For personal use only 0.55 1.60 Impact of updated ground 1.51 1.43 0.45 support on ramp up 1.39 0.26 0.26

  9. Slide 9: Safety and Sustainability

    For personal use only Safety and Sustainability People and Places 9

  10. Slide 10: Standardising safety culture

    Standardising safety culture Additional resourcing in Southern Goldfields drives Q on Q improvement 12 20 18.44 12 Month rolling Injury Frequency Rate For personal use only 9 14.36 15 (injuries/million hours worked) Total Recordable Injury count 6 9.03 8.82 10 8.37 7.75 7.37 7.30 6.85 6.85 3 5 0.86

  11. Slide 11: People drive our business

    People drive our business  Continued focus on consolidating and simplifying systems and processes For personal use only  Respect in the Workplace training rolled out to the workforce – respect is a key value  Respect hotline established for employees to raise concerns anonymously  Nominated for

  12. Slide 12: Balance Sheet Strength

    For personal use only Balance Sheet Strength Key to growth strategy 12

  13. Slide 13: Net mine cash flows fund operational and growth capital

    Net mine cash flows fund operational and growth capital Cash, Bullion, and Liquid Investments Movement (A$M) (10)  $54M growth capital cash (3) (10) expenditure 56 (29) 50 (29) 12 (13) 152 For personal use only (16) 136 17  Managing working capital (9) (6) requirements in a business that has doubl

  14. Slide 14: Monthly costs performance

    Monthly costs performance Consistent total AISC post merger – cost reduction programme underway 120 3,000 2,796 2,791 Karora Transaction 2,800 110 2,619 2,643 2,542 2,561 2,490 2,600 100 2,342 2,370 2,309 2,400 2,209 2,198 For personal use only 90 2,200 2,230 1,983 2,000 80 74 75 75 70 1,800 1,842 6

  15. Slide 15: $28M of pretax synergies realised – so far

    $28M of pretax synergies realised – so far Work ongoing with further opportunities identified Rationalisation of Karora North American & Realised savings Australian Management salaries & Director fees Pre-tax Synergies For personal use only ($M/annum) Corporate Management 21 Rationalisation of comme

  16. Slide 16: Operational Results

    For personal use only Operational Results 16

  17. Slide 17: Group Results – Q2, FY25

    Group Results – Q2, FY25 Physical Summary Units Group ROM - UG Ore Mined t 1,115,123 UG Grade Mined g/t 2.3 ROM - OP Ore Mined t - OP Grade Mined g/t - For personal use only Ore Processed t 1,342,005 Head Grade g/t 2.1 Recovery % 91 Gold Produced oz 80,886 Achieved Gold Price A$/oz 4,066 All-in Sust

  18. Slide 18: Murchison

    Murchison Physical Summary Units Murchison ROM - UG Ore Mined t 664,568 UG Grade Mined g/t 2.3 ROM - OP Ore Mined t - OP Grade Mined g/t - For personal use only Ore Processed t 749,182 Head Grade g/t 2.1 Recovery % 90 Gold Produced oz 46,461 Achieved Gold Price A$/oz 4,066 All-in Sustaining Costs A$

  19. Slide 19: Southern Goldfields

    Southern Goldfields Physical Summary Units Southern Goldfields ROM - UG Ore Mined t 450,555 UG Grade Mined g/t 2.3 ROM - OP Ore Mined t - OP Grade Mined g/t - For personal use only Ore Processed t 592,823 Head Grade g/t 2.0 Recovery % 92 Gold Produced oz 34,425 Achieved Gold Price A$/oz 4,066 All-in

  20. Slide 20: Exploration and Resource Development

    For personal use only Exploration and Resource Development Unleash the drills 20

  21. Slide 21: Bluebird – South Junction: From 0.5 to 1.4 Mtpa and beyond

    Bluebird – South Junction: From 0.5 to 1.4 Mtpa and beyond  Updated Mineral Resource Estimate of 15Mt at 2.9g/t Au For personal use only 1 for 1.4Moz  Bluebird – South Junction Ore Reserve more than doubled to 7.2Mt @ 2.5g/t Au for 573koz1  Upside in Polar Star Lode  How big is this thing? 1. Re

  22. Slide 22: Great Fingall – early mining opportunity derisked

    Great Fingall – early mining opportunity derisked For personal use only  Extraction of bulk stopes from late Q3 FY25 22

  23. Slide 23: Beta Hunt from 1.6Mtpa to >2Mtpa

    Beta Hunt from 1.6Mtpa to >2Mtpa  7km footprint - Southern 3 km largely untested  4 key orebodies to-date  Western Flanks the For personal use only 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  Current

  24. Slide 24: The next suite of assets

    The next suite of assets Greenfields highlights  AC drilling:  Labouchere (Fortnum) program completed with results including 3.00m @ 6.07g/t Au in hole For personal use only 24LBAC044  RC drilling programs results include:  Mountain View (Cue) 2.00m @ 47.93g/t Au in hole 24GCRC04  Champion (Mee

  25. Slide 25: What's ahead?

    For personal use only What's ahead? 25

  26. Slide 26: Focus on the two growth engines – and cost reduction

    Focus on the two growth engines – and cost reduction Murchison Southern Goldfields Portfolio For personal use only Bluebird-South Junction Beta Hunt Strategic Review  Increase mine scale to 1.2Mtpa  Expansion to >2Mtpa  Rank assets across 3,200km2 land  Reduce haulage from Cue  Define Fletcher

  27. Slide 27: Larger mines feeding larger mills

    Larger mines feeding larger mills Fortnum scoping study identifies expansion pathway1  10-Year Mine Plan: Starlight, Nathan’s, Yarlarweelor open pits; Starlight underground expansion. For personal use only  Starlight Resource Estimate: 12.9Mt at 2.7g/t Au for 1.13Moz (91% increase).  Mill Expansi

  28. Slide 28: Westgold – Enhancing the value proposition

    Westgold – Enhancing the value proposition Top 5 ASX / Top Financial Unhedged 10 TSX Producer Strength For personal use only One of Australia’s Robust balance sheet Production capacity of largest fully unhedged with $300M debt +400,000 ozpa gold producers facility Investing in Shareholder Portfolio

  29. Slide 29: Thank You

    Thank You Investor Relations & Media For personal use only Kasun Liyanaarachchi Investor Relations Manager Kasun.Liyanaarachchi@westgold.com.au www.westgold.com.au +61 458 564 483

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