Westgold Resources Ltd · ASX:WGX
Westgold Resources — Denver Gold Forum 2021
24 slides from Westgold Resources's conference presentation, Sep 14, 2021
Slide 1: Denver Gold Forum – Westgold Resources Limited
Denver Gold Forum WESTGOLD RESOURCES LIMITED [ ASX : WGX ] Wayne Bramwell – Executive Director September 2021
Slide 2: Disclaimer
Disclaimer COMPLIANCE STATEMENT 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), who is a member of
Slide 3: Index
Index Page 1 Our Value Proposition 4 2 Rapid Growth Since 2017 5 3 Corporate Snapshot 6 4 Corporate Structure 7 5 Operational Snapshot 8 6 COVID-19 Impacts 9 7 FY21 Financials 10 8 FY22 Look Forward 11 9 Operations Overview 12-18 10 Growth Pipeline 19 11 WGX 2.0 20 12 ESG Approach 21 13 Conclusion 2
Slide 4: Westgold – Western Australian Gold Miner
Westgold [ASX : WGX] - Western Australian Gold Miner Established Australian producer - Tier 1 jurisdiction and a +35M oz gold province Operational flexibility – 8.8M oz resource base, multiple mines, 3 processing hubs and 1,300km2 of tenure to explore Vertically integrated owner miner = greater cost
Slide 5: Westgold – Rapid Growth Since 2017
Westgold – Rapid Growth Since 2017 FY21 Maiden Cash Dividend FY20 1Moz milestone FY19 Assets rationalised - focus is Murchison & Bryah FY17 - FY19 Production from Kalgoorlie & Murchison Goldfields December 2016 Westgold lists on ASX 5
Slide 6: Corporate Snapshot
Corporate Snapshot 300,000 Historic Production & FY22 Guidance [oz/annum] ASX CODE: WGX Murchison & Bryah Operations only Shares on Issue 424.1M 250,000 +270,000 245,411 235,196 A$691M Market Capitalisation1 200,000 220,706 [USD511M] Daily share liquidity 2M 150,000 A$150.7 Cash & cash equivalents2
Slide 7: Corporate Structure
Corporate Structure Corporate Structure Board ASX CODE WGX Non-Executive Chairman Peter Cook Shares on Issue1 424.1M Executive Director Wayne Bramwell Options on Issue1 2.2M Ind. Non-Executive Director Fiona Van Maanen 12 Month Trading Range A$2.98 – A$1.63 Ind. Non-Executive Director Peter Schwann
Slide 8: Operational Snapshot
Operational Snapshot Westgold Operational Snapshot • ≈1076 employees1 • 1,300 km2 of tenure • Operational flexibility and cost management advantage via hub and spoke operating model and in- house mining, drilling and haulage capability • 2 Murchison processing hubs - Meekatharra [MGO] and Cue [CGO]
Slide 9: COVID-19 Impacts on the Western Australian Mining Sector
COVID-19 Impacts on the Western Australian Mining Sector 98% ofaffected companies in the sector have been by COVID-19 to some extent 91% oftravel companies were disrupted by restrictions of companies with a primarily FIFO 82% workforce relocated workers to WA of companies implemented additional 74%
Slide 10: FY21 – The Inflection Point
FY21 – The Inflection Point FINANCIAL METRIC FY21 FY20 Variance ▪ FY21 began to see capital investment start to deliver improved fiscal results1 Gold Sales [oz] 245,066 235,196 + 4% ▪ Big Bell contribution rises as virgin horizons Revenue [A$M] 571.2 492.3 + 16% accessed Cost of Sales [A$M] 455.5 46
Slide 11: FY22 - Building Cash to Fund Growth
FY22 - Building Cash to Fund Growth A$850/oz AISC Gold Production koz - FY19 on A$ AISC Margin Growth margin 300 3000 @ A$2450/oz & A$919/oz midpoint AISC 250 60 guidance 60 AISC margin 200 61 A$570/oz 2450 58 2500 2330 AISC margin K Oz 150 2088 210 A$378/oz 100 185 163 174 AISC margin 50 2000 1768
Slide 12: Murchison and Bryah Operations
Murchison and Bryah Operations Murchison [MGO+CGO] Big Bell UG Comet UG South Emu – Triton UG Bluebird UG Paddy’s Flat UG Open Pits +210,000 Oz Bryah [FGO] Starlight UG Open Pits +60,000 Oz FY22 guidance +270,000 Oz @ A$1,500 – A$1,700 Oz 12
Slide 13: Murchison - Cue Processing Hub
Murchison - Cue Processing Hub ▪ 1.2Mtpa Tuckabianna mill ▪ 2 operating UG mines ▪ Big Bell ▪ Comet ▪ Chester Group open pits ▪ Near term development ▪ Fender UG ▪ Gt Fingall UG ▪ Caustons UG ▪ Black Swan Group 13
Slide 14: Big Bell – Our Biggest Mine
Big Bell – Our Biggest Mine ▪ Sub-level cave mining method ▪ Chevron cave front established - currently 580m below surface ▪ First virgin level exposed and now mining ▪ Second virgin level exposed and mining expected Q2, FY22 ▪ New technologies and productivity improvements facilitate current 65- 70
Slide 15: Murchison – Meekatharra Processing Hub
Murchison – Meekatharra Processing Hub ▪ 1.8Mtpa Bluebird mill ▪ 3 operating UG mines ▪ Bluebird ▪ South Emu - Triton ▪ Paddy’s Flat ▪ Maid Marion and Nannine Group open pits ▪ Near term development ▪ Boomerang UG ▪ Aladdin OP ▪ Rand UG ▪ Jack Ryan UG 15
Slide 16: Bluebird – Our Newest Mine
Bluebird – Our Newest Mine ▪ 2km from the Bluebird mill ▪ +600,000 oz from South Junction and Bluebird open pits ▪ Decline access from South Junction open pit ▪ Shallow mine with high OVM ▪ FY22 production level ≈300Kt ▪ Current development has exposed three lode system ▪ Resource potential at depth
Slide 17: South Emu – Triton
South Emu – Triton ▪ South Emu commenced 2018 ▪ Currently ≈150m below surface ▪ New decline access under historic high grade Triton mine >10g/t Au ▪ Production commenced in Triton July 21 ▪ Multi-lode system with depth extensions ▪ Rand access potential from Triton decline Refer ASX WGX 21 July 2021
Slide 18: Bryah - Fortnum Processing Hub
Bryah - Fortnum Processing Hub ▪ Bryah Basin geology ▪ 0.9Mtpa Fortnum mill ▪ 1 operating UG mine ▪ Starlight ▪ Surface stocks ▪ Near term development ▪ Yarlarweelor / Callies OP ▪ Horseshoe OP ▪ Nathans OP ▪ Regent Messiah / Labouchere OP 18
Slide 19: Mineral Balance Sheet & Project Pipeline
Mineral Balance Sheet & Project Pipeline ▪ Project pipeline to supplement current UG operations - Big Bell, Paddy’s Flat, Starlight, South Emu – Triton, Bluebird and Comet Total Mineral Resources and Ore Reserves Resource Pipeline 10 10 Mineral Resources are reported 8 8 inclusive of Ore Reserves In
Slide 20: WGX 2.0 – Looking Ahead
WGX 2.0 – LOOKING AHEAD ▪ Murchison province has +35Moz Au endowment WGX today ▪ major ground holder ▪ controls 3 of the 4 +2Moz deposits in the Murchison – Big Bell, Great Fingall / Golden Crown and Paddy’s Flat ▪ Milling hub and spoke optionality ▪ New Exploration and Growth Team established WGX l
Slide 21: Westgold’s Environmental, Social and Governance [ESG] approach
Westgold’s Environmental, Social and Governance [ESG] approach ESG is an integral part of our business and Westgold recognises the increasing importance in disclosure and performance and will: ▪ Work towards reporting in accordance with Global Reporting Initiative (GRI) Standards ▪ Adopt the Task Fo
Slide 22: Conclusion – Why Westgold?
Conclusion – Why Westgold? Established Australian producer - Tier 1 jurisdiction and a +35M oz gold province Operational flexibility – 8.8M oz resource base, multiple mines, 3 processing hubs and 1,300km2 of tenure to explore Vertically integrated owner miner = greater cost control FY21 – debt free
Slide 23: Westgold Resources Limited – Investor and Media Enquiries
WESTGOLD RESOURCES LIMITED [ASX : WGX] For All Investor and Media Enquiries: Wayne Bramwell – Executive Director E: wayne.bramwell@westgold.com.au www.westgold.com.au 23
Slide 24: Appendices – 2020 Resource & Reserve Summary
Appendices – 2020 Resource & Reserve Summary WESTGOLD RESOURCES LIMITED WESTGOLD RESOURCES LIMITED Mineral Resource Statement - Rounded for Reporting Ore Reserve Statement - Rounded for Reporting 30/06/2020 30/06/2020 Tonnes Grade Ounces Au Tonnes Grade Ounces Au Region Region ('000) (g/t) ('000) ('