Westgold Resources Ltd · ASX:WGX
Westgold Resources — Investor Presentation (May 2022)
23 slides from Westgold Resources's investor presentation, May 16, 2022
Slide 1: Westgold Resources Corporate Presentation May 2022
For personal use only WESTGOLD RESOURCES LIMITED [ ASX : WGX ] Corporate Presentation MAY 2022
Slide 2: Disclaimer
Disclaimer COMPLIANCE STATEMENT For personal use only Exploration targets, exploration results the information in this report that relates to exploration targets and exploration results is compiled by Westgold technical employees and contractors under the supervision of Mr. Jake Russell B. Sc. (Hons
Slide 3: WGX 2.0 – The Strategy
WGX 2.0 – The Strategy For personal use only “Sweat the assets” ▪ streamline and leverage our capital investment ▪ key mines at steady state – now expand ▪ future proof business to ensure sustainability ▪ focus on free cash flow and profitability ▪ think bigger – organic and inorganic targets 3
Slide 4: Value Proposition
Value Proposition – ASX : WGX For personal use only FY22 production guidance - 270,000oz @ AISC A$1,500-A$1,700/oz [US$1,122-US$1,272/oz1] Well funded, 270kozpa ▪ The Platform - 2.2Moz Ore Reserve, owner miner and ≈4 Mtpa installed processing capacity Australian gold producer ▪ Cash @ 31/3/22 of A$1
Slide 5: WGX Corporate Snapshot
WGX Corporate Snapshot Corporate Structure Board For personal use only Shares on Issue2 473.4M Non-Executive Chair Cheryl Edwardes AM Options on Issue2 4M Executive Director Wayne Bramwell 12 Month Trading Range1 A$2.50 – A$1.31 Ind. Non-Executive Director Julius Matthys Avg Liquidity / day ≈2.1M sh
Slide 6: Bryah + Murchison Operations – The Engine Room
Bryah + Murchison Operations – The Engine Room For personal use only 6
Slide 7: Westgold Steadily Building Scale
Westgold Steadily Building Scale For personal use only FY22 guidance - 270,000oz FY21 - 245,411oz FY20 – 235,196oz FY19 – 220,706oz 7
Slide 8: FY22 – Operational Consistency Improves
FY22 – Operational Consistency Improves For personal use only Westgold - Production, Achieved Gold Price1 & AISC1 Q1 Gold Q2 Gold Q3 Gold YTD Gold FY22 Production Produced Produced Produced Produced Guidance Costs 66,173oz 66,688oz 65,426oz 198,288oz 270,000oz Costs Since FY21 US$'000 US$/oz 200 2,0
Slide 9: Big Bell – At Steady State
Big Bell – At Steady State For personal use only ▪ FY21 ▪ cave chevron advanced into virgin ore zones ▪ capital investment crested ▪ FY22 ▪ at feasibility levels of production ▪ second virgin level exposed and mining ▪ grade lifts as cave progressively becomes ‘balanced’ and virgin ore content rises
Slide 10: Bluebird – At Steady State, Now Expand
Bluebird – At Steady State, Now Expand For personal use only ▪ Current FY22 scale +24ktpm @ 3.0g/t Au ▪ Access to North Lodes underway ▪ to lift tonnage and provide greater operational flexibility with additional stoping options ▪ additional high-grade ore lifts average grade to 1.8Mtpa Bluebird pro
Slide 11: Starlight – At Steady State
Starlight – At Steady State For personal use only ▪ Starlight underground mine - now operating at steady state of 60kt/m @ 2.7g/t Au ▪ Depth extensions and new mineralisation defined ▪ drilling extends Starlight mineralisation to ≈ 800m below natural surface ▪ extension to Moonlight Lode at depth in
Slide 12: The Growth Plan – Funded and Advancing
The Growth Plan – Funded and Advancing For personal use only BRYAH Growth Projects Status Fortnum Mill incremental expansion to ≈1Mtpa Capital approved - crusher ordered Labouchere Target Pit dewatered - 1st phase of drilling complete end of May MURCHISON Growth Projects Status Tuckabianna Mill Expa
Slide 13: Fender Underground – Q1, FY23
Fender Underground – Q1, FY23 For personal use only ▪ Fender +30koz pa new production at steady state ▪ Output ≈25-35ktpm @ 2.8g/t Au ▪ Low execution risk - pit works, portal establishment and initial 120m of decline now complete ▪ Grade control drilling - first 100m vertical development complete ▪
Slide 14: Fender – Utilises Big Bell Surface Infrastructure
Fender – Utilises Big Bell Surface Infrastructure For personal use only 14
Slide 15: Bluebird Expansion – FY23/24
Bluebird Expansion – FY23/24 For personal use only ▪ Current FY22 scale +24ktpm @ 3.0g/t Au ▪ Expanded scale ≈50ktpm @ 3.0g/t Au ▪ Access to North Lodes underway ▪ to lift tonnage and provide greater operational flexibility with additional stoping options ▪ additional high-grade ore lifts average gr
Slide 16: Tuckabianna Trend – FY23/24
Tuckabianna Trend – FY23/24 ▪ For personal use only Caustons high priority target at mill’s doorstep ▪ Total Resource 165Koz - @3.4g/t Au (≈750oz/Vm) ▪ Potentially +50Koz pa at steady state ▪ Model updated, resource development drilling required ▪ Proximate Comet Mine has operated for 5 years @ +3 g
Slide 17: Day Dawn – Unlocking High-Grade Ounces
Day Dawn – Unlocking High-Grade Ounces FY24 on For personal use only Day Dawn – Great Fingall and Golden Crown ▪ Both prolific high grade historic mines ▪ Combined Resource ≈ 1.85Mt @ 8.5g/t Au for ≈500,000oz ▪ Open pit completed in 2020 – short decline established ▪ Remains open at depth – 1.5km ho
Slide 18: Exploration Targets – Tested
Exploration Targets – 5 Tested For personal use only ▪ Murchison Province is prospective ▪ >35Moz Au endowment ▪ Westgold control 3 of the 5 historic +2Moz “camps” ▪ FY22 exploration budget of A$14M [US$11m1] ▪ 1H FY22 - build exploration team and prioritise targets ▪ 1H FY22 - new geophysical datas
Slide 19: Price Catalysts – The Road Ahead
Price Catalysts – The Road Ahead For personal use only ▪ Q4, FY22 ▪ Fender Update ▪ Starlight Update ▪ Exploration Update ▪ Q1, FY23 ▪ Q4 quarterly results ▪ FY22 results ▪ Bluebird Expansion Project Update ▪ Improved operational and corporate delivery ▪ Increasing mine productivity and grade ▪ Impr
Slide 20: Westgold 2.0 – The Value Proposition
Westgold 2.0 – The Value Proposition For personal use only ▪ Well funded, debt free Australian gold producer ▪ Our platform for profitability – 2.2Moz reserve, 4Mtpa processing capacity and 1,300km2 of tenure in WA ▪ Key mines now at steady state - operational delivery improving ▪ YTD Au production
Slide 21: Corporate and Investor Enquiries
WESTGOLD RESOURCES LIMITED For personal use only [ASX : WGX] For Corporate and Investor Enquiries: Wayne Bramwell – Executive Director E: wayne.bramwell@westgold.com.au www.westgold.com.au 21
Slide 22: 2021 Resource and Reserve Estimate – Mineral Resource Statement
2021 Resource and Reserve Estimate @ June 30, 2021 For personal use only Murchison Gold Operations (MGO and CGO) Mineral Resource Statement - Rounded for Reporting 30 June 2021 Measured Indicated Inferred Total Ounces Ounces Ounces Ounces Tonnes Tonnes Tonnes Tonnes Project Grade Au Grade Au Grade A
Slide 23: 2021 Resource and Reserve Estimate – Ore Reserve Statement
2021 Resource and Reserve Estimate @ June 30, 2021 Murchison Gold Operations (MGO and CGO) For personal use only Ore Reserve Statement - Rounded for Reporting 30 June 2021 Proven Probable Total Project Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces ('000s) Au ('000s) ('000s) Au ('000s)
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