Westgold Resources Ltd · ASX:WGX
Westgold Resources — BMO Global Metals and Mining Conference 2024
22 slides from Westgold Resources's conference presentation, Feb 22, 2024
Slide 1: Westgold Resources Limited - BMO Global Conference
For personal use only Westgold Resources Limited Wayne Bramwell | MD & CEO BMO Global Conference – Introducing Westgold ASX:WGX | OTCQX:WGXRF westgold.com.au
Slide 2: Disclaimer
Disclaimer Compliance Statement Forward-looking Statements The information in this report that relates to Exploration Results is compiled by Westgold technical employees and These materials prepared by Westgold Resources Limited (or “the Company”) include forward-looking statements. contractors unde
Slide 3: Introducing Westgold
Introducing Westgold 100% West Australian Gold Producer In FY23 Westgold produced 257koz of profitable ounces @ US$1,367/oz AISC For personal use only Balance sheet strength - US$163M in cash and Western bullion @ 31 December 2023 Australia Debt free and fully leveraged to the gold price Perth Large
Slide 4: Now generating free cash flow
Now generating free cash flow Fourth consecutive quarter of cash flow generation +$14M 163 For personal use only +$17M 148 +$17M 132 +$54M +$6M 115 109 Q2 Q3 Q4 Q1 Q2 FY23 FY23 FY23 FY24 FY24 Closing Cash, Bullion & Liquids position (US$M) Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: ht
Slide 5: Westgold is a portfolio company
Westgold is a portfolio company Starlight 4Mtpa milling capacity in gold camp endowed with >35Moz of gold For personal use only 3 Operating processing plants Western Australia Bluebird 4 Operating underground mines Fortnum Big Bell In development - Great Fingall UG Cue Meekatharra Fender 500
Slide 6: Corporate Snapshot
Corporate Snapshot Westgold share price movement in 20232 1.6 Corporate Structure 1.4 US$/share Shares on Issue1 473.6M 1.2 Rights on Issue1 9.3M 1.0 +123% 12 Month Trading Range2 US$1.53 – US$0.62 For personal use only 0.8 Avg Liquidity / day2,3 ≈2.0M shares 0.6 Cash and Bullion1 US$163M Jan 23 Mar
Slide 7: Shallow, long-life underground mines
Shallow, long-life underground mines We continue to invest in drilling For personal use only 7
Slide 8: High quality organic growth opportunities
High quality organic growth opportunities High potential Mine restart In In greenfield prospects opportunities Development Operation >4 3 1 4 For personal use only High priority drilling Mines with existing The next generation Making our existing targets infrastructure undergoing mines bigger commer
Slide 9: Owner miners who drill
Owner miners who drill Our owner mining fleet, drills and workforce gives us an advantage in a For personal use only tight labour market Over 124 pieces of mining and drilling equipment with an indicative replacement value of ~US$137M Westgold employs +1,000 staff across its operations Exchange: A$1
Slide 10: We think pragmatically about sustainability
We think pragmatically about sustainability 82MW of hybrid power now in operation For personal use only These hybrid facilities will: Reduce diesel consumption by 10 million gallons per annum Reduce carbon emissions by 56% Deliver ≈US$41/oz in AISC savings1 Exchange: A$1.00=US$0.684 as at 31 Decembe
Slide 11: Debt free and no fixed forward gold contracts
Debt free and no fixed forward gold contracts Structuring to enhance profitability Achieved 2,500 Gold Price 2,080 For personal use only 2,000 1,500 US$/oz 1,000 AISC Margin 544 500 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 0 Exchange: A$1.00=US$0.684 as at 31 December 2023 (so
Slide 12: Westgold's priorities for FY24
Westgold’s priorities for FY24 5 Sensibly invest in 3 technology that For personal use only drives cost reduction 6 Continue to 1 increase mine life of our existing Continue to safely mines 4 Assess and advance growth opportunities and efficiently aligned to core optimize our capabilities assets 2 C
Slide 13: Westgold - a compelling investment opportunity
Westgold - a compelling investment opportunity For personal use only We’re Profitable Now Generating Free Cash Unhedged and No Debt 2,57koz @ AISC US$1,367/oz US$163M in cash and bullion as at We’re debt free and fully leveraged in FY23 31 Dec 2023 to the gold price Owner Operators Untapped Potentia
Slide 14: Contact Information
Contact Information: For personal use only Investor Relations Kasun Liyanaarachchi | Investor Relations Manager kasun.liyanaarachchi@westgold.com.au Thank you. +61 458 564 483 Media Peter Knight | Communications Advisor peter.knight@westgold.com.au +61 459 980 481 ASX: WGX | OTCQX: WGXRF westgold.co
Slide 15: Appendices
For personal use only Appendices Westgold’s mining operations 15
Slide 16: Starlight UG mine
Starlight UG mine Mine statistics Mining method LHOS Mine life ~4 years Indicative mine scale 600 ktpa For personal use only # diamond drills operating 3 Growth Nightfall lode is higher grade than Starlight Lode 3.5 3.1 350 Nightfall 3.0 300 2.5 2.5 2.2 2.1 250 2.0 200 Starlight 163 154 136 147 1.5
Slide 17: Bluebird UG mine
Bluebird UG mine Mine statistics Mining method LHOS Mine life ~3 years Indicative mine scale 480 ktpa For personal use only # diamond drills operating 4 South Junction pit Growth South Junction expansion opportunity 5 4.3 4.4 250 Bluebird pit 4 3.7 200 3.3 3 139 150 126 126 103 2 100 1 50 Bluebird a
Slide 18: Big Bell UG mine
Big Bell UG mine Mine statistics Mining method SLC and LHOS Current sub level Mine life ~16 years cave Indicative mine scale 1 Mtpa For personal use only # diamond drills operating 1 Growth Long Hole Open LHOS to increase Big Bell grade Stoping expansion 3.0 2.7 2.8 500 2.5 2.5 2.3 400 2.0 290 286 2
Slide 19: Fender UG mine
Fender UG mine Mine statistics Mining method LHOS Mine life ~3 years Indicative mine scale 330 ktpa For personal use only # drills operating 1 2.0Growth 25 1.7 Drill lateral and depth extensions 20 1.5 15 15 1.0 10 0.5 5 Fender was restarted and brought back into production in Q2 FY24 0.0 0 Q3 FY23
Slide 20: Great Fingall Project
Great Fingall Project Golden Crown UG (1983-1996) 288koz @ 13.80g/t Au Statistics Mining method LHOS Mine life ~8 years Golden Crown Great Fingall OP For personal use only (1995-2018) # diamond drills operating 1 137koz @ 1.55g/t Au Expected first production H1 FY25 Expected steady state +45koz pa G
Slide 21: Mineral Resource Statement - At June 2023
Mineral Resource Statement – At 30 June 20231 Murchison Operations (Rounded for reporting) Measured Indicated Inferred Total Ounces Au Ounces Au Ounces Au Ounces Au Project Tonnes ('000s) Grade Tonnes ('000s) Grade Tonnes ('000s) Grade Tonnes ('000s) Grade ('000s) ('000s) ('000s) ('000s) Big Bell 5,
Slide 22: Ore Reserve Statement - At June 2023
Ore Reserve Statement – At 30 June 20231 Murchison 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 3,573 2.85 327 6,270 3.31 668 9,843 3.14 995 Cuddingwarra
Westgold Resources — BMO Global Metals and Mining Conference 2024 on 6ix