Westgold Resources Ltd · ASX:WGX
Westgold Resources — Shareholder Meeting (2018)
21 slides from Westgold Resources's shareholder meeting presentation, 2018
Slide 1: Annual General Meeting – Presentation by Managing Director
ANNUAL GENERAL MEETING Presentation by Managing Director
Slide 2: FY 2018 – A Busy Year
FY 2018 – A Busy Year Refurbished and commissioned 2 Process Plants. – Fortnum & Tuckabianna Tuckabianna Process Hub Fortnum Process Hub (Cue Gold Operations) Fortnum (Fortnum Gold Project) WESTGOLD RESOURCES LIMITED 15 2
Slide 3: FY 2018 – Processing hubs up and firing
FY 2018 – 4 Processing hubs up and firing Fortnum Gold Project 1 million tpa 60-75,000 oz per annum Meekatharra Gold Operations 1.6 – 1.8 million tpa 120 – 140,000 oz per annum Cue Gold Operations 1.2 – 1.4 million tpa 90-110,000oz per annum Higginsville Gold Operations 1.3 million tpa 50 – 65,000oz
Slide 4: Production, Forecast & Growth
PRODUCTION, FORECAST & GROWTH FY 2017/18 FY 2018/19 FY 2019/20 (actual) (fcst) (fcst) >350,000oz 300 - 320,000oz 253,210oz Big Bell Mine Starts (adds 100,000oz pa) AISC AISC AISC (Fcst) A$1463/oz A$1300 -1350/oz A$1250 - 1300/oz US$ 1,050/oz US$ 940 - 975/oz US$ 900 - 940/oz WESTGOLD RESOURCES LIMIT
Slide 5: FY 2018 – Underground Mines Operating
FY 2018 – 6 Underground Mines Operating Starlight Decline Comet Decline Cue Gold Operations Fortnum Gold Project Cue Gold Operations Paddy’s Flat Decline Jack Ryan Decline Sth Emu / Triton Decline Meekatharra Gold Operations Meekatharra Gold Operations Meekatharra Gold Operations WESTGOLD RESOURCES
Slide 6: FY 2018 – Operated Open Pit Mines
FY 2018 – Operated 6 Open Pit Mines Mickey Doolan (MGO) Fairplay East (HGO) Mount Henry (HGO) Yarlaweelor North (FGP) Yarlaweelor South (FGP) South Gibraltar (MGO) WESTGOLD RESOURCES LIMITED 15 6
Slide 7: Sale of South Kalgoorlie Operations (SKO)
SALE OF SOUTH KALGOORLIE OPERATIONS (SKO) (A process of upgrading our gold portfolio) • SKO was a very mature project, a 30 year old plant. • Short mine life from the high-cost HBJ underground mine. • Half of plant capacity filled with Toll Processing Ores (small margin but profitable). • Sold for $
Slide 8: Acquisition - Australian Contract Mining (ACM)
Acquisition - Australian Contract Mining (ACM) • Acquired during the year in an unplanned and reactive move to protect Westgold from adverse reaction to ACM’s fiscal failure. • ACM own major underground mining, raise drilling and underground diamond drill fleets and operates all Westgold underground
Slide 9: FY 2018 – Polar Bear Projects from S2Resources
FY 2018 – Polar Bear Projects from S2Resources • Great addition to the HGO Project • Ore sources close to Plant. • Baloo deposit Total Resource 2.2mt @ 1.8g/t and 123,000oz • Native title agreement resolved • Mining Lease granted • Awaiting permitting (expected Mar Qtr 2019) • Good exploration upsid
Slide 10: Fortnum Gold Project (FGP)
FORTNUM GOLD PROJECT (FGP) 60 - 75,000ozpa STEADY STATE Fortnum Gold Project 1 million tpa 60-75,000 oz per annum Meekatharra Gold Operations 1.6 – 1.8 million tpa 120 – 140,000 oz per annum Cue Gold Operations 1.2 – 1.4 million tpa 90-110,000oz per annum Higginsville Gold Operations 1.3 million tpa
Slide 11: Fortnum Gold Project (FGP) – Starlight Underground Mine
FORTNUM GOLD PROJECT (FGP) – STARLIGHT UNDERGROUND MINE 5 open pits to be mined as cut-backs. 18 WESTGOLD RESOURCES LIMITED 11
Slide 12: Meekatharra & Cue Gold Operations (MGO & CGO)
MEEKATHARRA & CUE GOLD OPERATIONS (MGO & CGO) Fortnum Gold Project 1 million tpa 60-75,000 oz per annum Meekatharra Gold Operations 1.6 – 1.8 million tpa 120 – 140,000 oz per annum Cue Gold Operations 1.2 – 1.4 million tpa 90-110,000oz per annum Higginsville Gold Operations 1.3 million tpa 50 – 65,0
Slide 13: The Murchison Region
THE MURCHISON REGION CMGP now two projects (MGO & CGO) Meekatharra Gold Operations (MGO) Multiple feed sources (underground and open pit mines) to a centralised ore processing hubs. Cue Gold Operations (CGO) Note: Historic Production shown WESTGOLD RESOURCES LIMITED 19 13
Slide 14: Meekatharra Gold Operations (MGO)
MEEKATHARRA GOLD OPERATIONS (MGO) Paddy’s Flat – the main underground mine A mine producing at 600,000 tpa at 4+ g/t on remnants and BIF ores. Gets under the main old workings (Fenian’s) by end 2019. Fenians Mine produced 684,000oz at 16.5 g/t to depth of 420m VD. New drilling shows extensions of No
Slide 15: Meekatharra Gold Operations (MGO)
MEEKATHARRA GOLD OPERATIONS (MGO) South Emu & Triton – supplementary underground mines Another high grade feed source for MGO. Mine started and will produce first ore in December quarter. Supplemented by u/ground mining at Jack Ryan mine currently being mined just to the north. Reedy’s still has Boo
Slide 16: CGO – The Big Bell Mine
CGO – THE BIG BELL MINE A sub-level cave mine being re-established. Expected steady state production of >1.0mtpa and 100,000oz pa. Dewatering and rehabilitation significantly progressed. New development to commence by year end. 12-month stoping build to 1mtpa output RESOURCE MILLION TONNES GRADE MIL
Slide 17: CGO – Great Fingall & Golden Crown Mines
CGO – GREAT FINGALL & GOLDEN CROWN MINES In-wall ramp started to access open pit & underground. Prolific high grade producers Open Pit Mining started Underground development and 2 levels to validate remnants planned. Then hold until Big Bell hits full production. Can go to MGO or CGO plant. Likely o
Slide 18: Other Assets
OTHER ASSETS (NON-CORE, MAY BE DIVESTED or SPUN-OFF) • Rover Project (NT) o High-grade Virgin IOCG deposit at Rover 1. o Virgin Pb-Zn-Ag discovery at Explorer 108. o Curiosity virgin discovery (11.7m @ 3.73%Pb, 4.86%Zn, 1.02g/t Au, 33g/t Ag) – (refer ASX:MLX 22/12/14). o Dominant land Position in vi
Slide 19: Total Gold Inventory by JORC Category & Project
TOTAL GOLD INVENTORY BY JORC CATEGORY & PROJECT For full details please refer to the announcement ”Annual Update – Mineral Resource & Ore Reserve as at 30 June 2018” released by Westgold Resources Limited (ASX:WGX) on 2nd October 2018. WESTGOLD RESOURCES LIMITED 3519
Slide 20: Disclaimer
DISCLAIMER JORC COMPLIANCE STATEMENT Competent Persons Statements The information in this report that relates to Exploration Results and Mineral Resources and Ore Reserves is based on information compiled Mr Jake Russell B.Sc. (Hons) MAIG, Mr Paul Hucker B. Eng (Hons) MAIMM, and Anthony Buckingham B
Slide 21: Level 9, 197 St Georges Tce Perth WA 6000
Level 9, 197 St Georges Tce Perth WA 6000 08 9462 3400 www.westgold.com.au