Westgold Resources Ltd · ASX:WGX
Westgold Resources — Investor Presentation (February 2022)
23 slides from Westgold Resources's investor presentation, Feb 9, 2022
Slide 1: Westgold Resources Limited – The Platform for Profitability
WESTGOLD RESOURCES LIMITED [ ASX : WGX ] The Platform for Profitability Wayne Bramwell – Executive Director Corporate Presentation - February 2022
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: Westgold [ASX: WGX] – The Platform for Profitability
Westgold [ASX : WGX] – The Platform for Profitability Established Australian producer - Tier 1 jurisdiction and a +35M oz gold province Operational flexibility – 4Mt milling capacity and 2.2M Oz reserve Owner miners – cost effective and efficient underground and open pit miners FY21 – produced 245,0
Slide 4: Corporate Structure
Corporate Structure Corporate Structure Board ASX CODE WGX Non-Executive Chairman Peter Cook Shares on Issue1 425.4M Executive Director Wayne Bramwell Options on Issue1 4.0M Ind. Non-Exec Director Fiona Van Maanen Market Capitalisation @ Ind. Non-Exec Director Peter Schwann 819M 08/02/2022 Ind. Non-
Slide 5: FY22 – Safety Statistics & ESG Processes Improving
WGX Group Lost Time Injury Performance 3.5 Lost Time Injuries FY22 – Safety Statistics & ESG Processes Improving 3 LTIFR 2.5 Industry ESG is an integral part of our business and Westgold recognises the increasing 2 importance in disclosure and performance and is: 1.5 Working towards reporting in a
Slide 6: Westgold – Rapid Growth Since 2017
Westgold – Rapid Growth Since 2017 FY22F +270kOz FY21 245kOz Maiden Cash Dividend Paid FY20 235kOz 1Moz production milestone FY19 220kOz Assets rationalised to Murchison + Bryah FY17 - FY19 Production from Kalgoorlie + Murchison assets December 2016 Westgold lists on ASX 6
Slide 7: Westgold – Our WA Footprint
Murchison FY22F Westgold – Our WA Footprint +210,000 Oz Bryah FY22F +60,000 Oz FY22 Guidance +270,000 oz @ C1 A$1,250 – A$1,400 /oz and AISC A$1,500 – A$1,700 /oz 7
Slide 8: FY21 – The Platform is Established
FY21 – The Platform is Established FINANCIAL METRIC FY20 FY21 Variance FY21 began to see capital investment start to Gold Sales [oz] 235,196 245,066 + 4% deliver improved fiscal results1 Revenue [A$M] 492 571 + 16% Capital investment phase tapering Cost of Sales [A$M] 463 456 - 2% Big Bell con
Slide 9: FY22 – Despite COVID Operational Delivery Improving
FY22 – Despite COVID 19 Operational Delivery Improving Group Gold Production and A$ Costs 80,000 1,800 70,000 1,500 FY22 Guidance Gold Production oz. Q1 Q2 Result YTD 60,000 1,200 50,000 Cost per oz. Production Record +270,000 66,173 66,688 132,861 40,000 900 Oz Au quarter 30,000 600 C1 1,250 – 1,40
Slide 10: COVID-19 Impacts and Response
COVID-19 Impacts and Response Employee Headcount - Mining Operations 105% $/L Diesel $/L 1.40 100% Employee Headcount 1.30 95% Full time equivalent [FTE] positions vacant -10% Average 1.20 90% Diesel price increase 1.10 between Jul to Dec 85% +16% 1.00 80% Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 J
Slide 11: The Murchison +210,000 oz for FY22
The Murchison +210,000 oz for FY22 Meekatharra Paddy’s Flat +65 ktpm @ 2.7 g/t Au Bluebird +24 ktpm @ 3.0 g/t Au South Emu – Triton +20 ktpm @ 2.7 g/t Au Open Pit ores & S/P as scheduled 1.8 Mtpa Bluebird Processing Hub Cue Big Bell +70 ktpm @ 2.7 g/t Au Comet +20 ktpm @ 2.9 g/t Au Open Pit ores & S
Slide 12: Big Bell – Cue's Baseload Producer
Big Bell – Cue’s Baseload Producer Sub-level cave and infrastructure re-established and now mining virgin ore blocks Second virgin level exposed and cave front currently 610m below surface Production at design levels of 70- 80ktpm New technologies and productivity improvements improving effi
Slide 13: Big Bell – Producing at Design Levels Now
Big Bell – Producing at Design Levels Now Big Bell High Grade Production by Quarter 250,000 18,000 16,000 200,000 14,000 12,000 150,000 10,000 8,000 100,000 6,000 4,000 50,000 2,000 0 0 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 tonnes Ounces 13
Slide 14: Paddy's Flat - Fenians Ahead
Paddy’s Flat - Fenians Ahead North Consol’s decline reaches the base of the historic Fenian’s workings Access to virgin ore horizons in Fenians now being established with 2 years of vertical development within virgin ore blocks planned Production to commence from Fenians in Q3, FY22 Refer ASX
Slide 15: Paddy's Flat – Grade Lifting
Paddy’s Flat – Grade Lifting Paddy's Flat High Grade Production by Quarter 250,000 16,000 14,000 200,000 12,000 10,000 150,000 8,000 100,000 6,000 4,000 50,000 2,000 0 0 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 tonnes Ounces 15
Slide 16: Bryah +60,000 oz for FY22
Bryah +60,000 oz for FY22 Fortnum Starlight +60 ktpm @ 2.7 g/t Au Open Pit ores & S/P as scheduled 0.9 Mtpa Fortnum Processing Hub 16
Slide 17: Starlight – Tonnage Consistent
Starlight – Tonnage Consistent Starlight High Grade Production by Quarter Grade is the 190,000 focus now 18,000 16,000 185,000 14,000 180,000 12,000 175,000 10,000 170,000 8,000 6,000 165,000 4,000 160,000 2,000 155,000 0 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 tonnes Ounces 17
Slide 18: Exploration Drilling Kicks Off
Exploration Drilling Kicks Off New Exploration and Growth team established Q4 FY21 $14M committed for FY22 Data consolidation and acquisition Q1/Q2 FY22 86 new targets defined 35 shortlisted for follow up 14 Priority 1 targets for immediate follow up1 Drilling to commence February 2022
Slide 19: FY22 / FY23 – Future Proofing the Business
FY22 / FY23 – Future Proofing the Business Increased surface ore stocks – mitigate COVID 19 and weather interruptions • ≈1.3Mt FY22YTD [+30% increase in volume] Increased inventory of critical spares, consumables and long lead items • $5M additional investment FY22YTD Commenced exploration on
Slide 20: Fender – The New Execution Model
Fender – The New Execution Model New underground mine development at Cue • Expands Cue production profile • Additional high grade for Tuckabianna processing hub • Reduces requirement for open pit ore • At steady state circa 300-350,000 tpa @ 2.8 g/t Au Low cost development • Leverages the existi
Slide 21: Westgold – Levers to Enhance our Profitability
Westgold – Levers to Enhance our Profitability Consistent production – Big Bell, Paddy’s Flat and Starlight delivering the baseline tonnage Increasing mined grade – Bluebird, Paddy’s Flat and Comet delivering the higher grades Leverage our efficiencies – mill where we get the best economic ret
Slide 22: For all Investor and Media Enquiries
For all Investor and Media Enquiries : Wayne Bramwell – Executive Director P: +61 8 9462 3400 E: wayne.bramwell@westgold.com.au www.westgold.com.au 22
Slide 23: Appendices – 2021 Resource & Reserve Summary
Appendices – 2021 Resource & Reserve Summary WESTGOLD RESOURCES LIMITED WESTGOLD RESOURCES LIMITED Gold Division (WA Operating Mines) Gold Division (WA Operating Mines) Mineral Resource Statement - Rounded for Reporting Ore Reserve Statement - Rounded for Reporting 30/06/2021 30/06/2021 Project Tonn
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