Westgold Resources Ltd · ASX:WGX
Westgold Resources — Shareholder Meeting (November 2024)
33 slides from Westgold Resources's shareholder meeting presentation, Nov 28, 2024
Slide 1: Westgold Resources Limited 2024 Annual General Meeting
ASX : WGX TSX : WGX For personal use only WESTGOLD RESOURCES LIMITED 2024 ANNUAL GENERAL MEETING www.westgold.com.au
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer Investor Presentation Not Investment Advice For personal use only This investor presentation is dated 28 November 2024 and has been prepared by Westgold Resources Limited This presentation does not constitute in any way an offer or invitation to subscribe for securit
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 Information about the p
Slide 4: Acknowledgement of traditional owners
Acknowledgement of traditional owners For personal use only Westgold respectfully acknowledges the Wadjuk People of the Noongar Nation as the Traditional Custodians of the land on which we gather today. We pay our respects to their Elders past and present. We would also like to extend that respect t
Slide 5: MD and CEO's Address
For personal use only MD and CEO’s Address Mr Wayne Bramwell 5
Slide 6: Contents
Contents For personal use only 1. The Westgold Journey 2. FY24: Highlights 3. Westgold Today 4. FY25: Poised to Grow 6
Slide 7: Our Journey
For personal use only Our Journey 7
Slide 8: The journey to top Australian gold producer
WESTGOLD MATURITY FY27 The journey to top 5 Australian gold producer MARGIN/GROWTH For personal use only INVEST IN MINE / MILL EXPANSIONS CASHFLOW FOCUS DELIVER INCREASED CF RESET, RATIONALISE and FY26 • Cashflow from profitable REDEPLOY operations funds company- • From a 500-600,000 ozpa making, $1
Slide 9: FY24: Highlights
For personal use only FY24: Highlights 9
Slide 10: FY24 Scorecard
FY24 Scorecard[1] For personal use only FY24 Group FY24 Actual Guidance Production (oz) 220,000-230,000 227,237 Top end of guidance AISC ($/oz) 2,100-2,300 2,164 Bottom end of cost guidance Delayed commercial production Growth Capital ($M)1 130 157 at Fender and expansion at Bluebird, Big Bell and S
Slide 11: FY24 Financial Highlights
FY24 Financial Highlights For personal use only Revenue: NPAT: Profit /Share: Dividends: Hedge: $716.5M $95.2M 20.1c 2.25c/share Nil (FY23: 656.6) (FY23: 10M) (FY23: 2.11c) (1.25 Fully franked) (FY23: 10,000) 11
Slide 12: Sustainability Highlights
Sustainability Highlights Building a long-term business For personal use only Target of 10% Transitioned to Target of 0 Water recycling 12% of WGX annual reduction cleaner energy: significant rate of 45%, workforce is in TRIFR environmental reducing reliance female: incidents met in on water sources
Slide 13: ESG: A pragmatic approach that delivers cost and emission reduction
ESG A pragmatic approach that delivers For personal use only cost and emission reduction Generate 82 MW (gas, battery & solar) Reduce diesel consumption by 38 million litres per annum Reduce carbon emissions by 56% Deliver ≈$60/oz in AISC savings1 All Murchison operating mines and mills running on h
Slide 14: Growing Reserves and Resources
Growing Reserves and Resources1 Mineral Resources Ore Reserves For personal use only Measured 11% Proven Inferred 29% 38% 13.2Moz 3.3Moz 51% 71% Indicated Probable +69% +60% 3,304 13,160 2,643 2,649 2,620 2,555 1,244 9,857 4,650 2,208 2,116 9,345 9,118 8,799 1,954 7,947 7,940 8,250 8,511 2,060 FY17
Slide 15: Focus on Free Cash Generation
Focus on Free Cash Generation And deliver shareholder returns For personal use only 6 Consecutive quarters of Cash, Bullion & Liquids build ($M) +$71M ▪ Profitable operations self-fund growth build in FY24 capital - unlocking value with the drill bit +$16M +$9M 263 +$21M ▪ 1.25 cents/share fully fra
Slide 16: Share Price Performance
Share Price Performance 67% Growth in FY24 For personal use only Share Price Open (1 Jul 23): $1.45 Close (30 Jun 24) : $2.42 Current (22 Nov 24): $2.85 16
Slide 17: A Transformational Transaction
A Transformational Transaction Building the next Australian Gold Major For personal use only WESTGOLD 3.0 + = Larger, more Well-funded and Extensive diversified internationally organic growth Australian producer investable options 17
Slide 18: Westgold Today
For personal use only Westgold Today 18
Slide 19: Westgold 3.0
Westgold 3.0 Building the next Australian Gold Major For personal use only An established, top 5 ASX / top 10 Unhedged gold producer – offering TSX gold producer with ~A$2.6Bn investors full exposure to gold price market cap[1] escalation Established portfolio of producing mines and extensive landho
Slide 20: A Portfolio that can deliver growth
A Portfolio that can deliver growth Two strategic WA footprints – fully unhedged For personal use only LEGEND FY25 +400 kozpa Au[1] Operating mines Processing plants Southern Goldfields + Murchison Western Australia Starlight Beta Hunt Higginsville Bluebird Fortnum Murchison Big Bell Bluebird Two Bo
Slide 21: Two prolific gold regions
Two prolific gold regions Murchison Southern Goldfields For personal use only 21
Slide 22: Owner Operators, Who Drill
Owner Operators, Who Drill For personal use only ~170 pieces of heavy 16 diamond drill rigs 2,127 employees UG equipment and contractors 22
Slide 23: The Engine Rooms for Growth
The Engine Rooms for Growth Bluebird – South Junction Mine For personal use only Meekatharra (Murchison) Great Fingall Mine Cue (Murchison) Beta Hunt Mine Kambalda (Southern Goldfields) Higginsville Exploration Pipeline Higginsville (Southern Goldfields) 23
Slide 24: Poised to Grow
For personal use only Poised to Grow 24
Slide 25: The Plan in FY25
The Plan in FY25 Larger mines feeding larger mills - reducing costs and increasing margin For personal use only Murchison Southern Goldfields Portfolio Review Bluebird-South Junction Beta Hunt Right size the package • Increase mine scale to >1.2Mtpa • Expansion to >2Mtpa • Rank assets across 3,200km
Slide 26: FY25 Guidance
FY25 Guidance Outputs planned to increase in H2 FY25 For personal use only FY25 Guidance FY25 Q1 Actual • Production upside potential: o Polar Star Lode at South Junction (FY25) Production (oz) 400,000 – 420,000 77,269 o Fletcher zone (H2, FY25) o Third party ore purchase (Q3, FY25) AISC (A$/oz) 2,0
Slide 27: WGX – the Next Australian Gold Major
WGX – the Next Australian Gold Major For personal use only Top 5 ASX / Top Financial Unhedged 10 TSX producer Strength One of Australia’s Production capacity of largest fully Robust balance sheet +400,000 ozpa unhedged gold with A$250M undrawn producers facilities Shareholder Portfolio has Growth Di
Slide 28: Contact Information
Contact Information: For personal use only 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 westg
Slide 29: Capital Structure
c Capital Structure Broker Analyst Share Price Cash & Equivalents Macquarie Andrew Bowler Open (1 Jul 23): $1.45 Open (1 Jul 23): $176M Canaccord Genuity Tim Mccormack Close (30 Jun 24) : $2.42 (+ 67%) Close (30 Jun 24) : $236M Broker cover For personal use only Argonaut Hayden Bairstow Current (22
Slide 30: Mineral Resource Statement: Operating Mines
Mineral Resource Statement: Operating Mines At 30 June 2024[1],[2] Murchison Gold Operations (Rounded for reporting) For personal use only Measured Indicated Measured and Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Project Grade Grade Grade Grade Gr
Slide 31: Mineral Resource Statement: Non-Operating Projects
Mineral Resource Statement: Non-Operating Projects At 30 June 2024[1],[2] Murchison Gold Operations (Rounded for reporting) For personal use only Measured Indicated Measured and Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Project Grade Grade Grade G
Slide 32: Ore Reserves Statement: Operating Mines
Ore Reserves Statement: Operating Mines At 30 June 2024[1],[2] For personal use only 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
Slide 33: Ore Reserves Statement: Non-Operating Projects
Ore Reserves Statement: Non-Operating Projects At 30 June 2024[1],[2] Murchison Gold Operations (Rounded for reporting) For personal use only Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell Di
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