Westgold Resources Ltd · ASX:WGX
Westgold Resources — Diggers and Dealers 2023
17 slides from Westgold Resources's conference presentation, Aug 9, 2023
Slide 1: Diggers and Dealers 2023
Diggers and Dealers 2023 For personal use only WESTGOLD RESOURCES LIMITED ASX : WGX WAYNE BRAMWELL | MANAGING DIRECTOR WWW.WESTGOLD.COM.AU
Slide 2: Acknowledgement of traditional ownership
Acknowledgement of traditional ownership For personal use only Westgold would like to acknowledge the Traditional Custodians of the land on which we gather today and pay our respects to their Elders past and present. We would also like to extend that respect to Aboriginal and Torres Strait Islander
Slide 3: Disclaimer
Disclaimer COMPLIANCE STATEMENT The information in this report that relates to Exploration Results is compiled by Westgold technical employees and contractors under the supervision of Mr. Simon Rigby B.Sc. (Hons), who is a member of the Australian Institute of Geoscientists. Mr Rigby is a full-time
Slide 4: 100% Western Australian gold producer
ASX : WGX – 100% Western Australian gold producer Delivered 257,116 profitable ounces in FY23 at AISC of $1,999/oz For personal use only Strong balance sheet with $192M in cash and liquids @ 30 June 20231 Debt free and now generating free cash flow1 Structured for enhanced profitability and growth i
Slide 5: Westgold – Dominant player in the Murchison region
WESTGOLD – Dominant player in the Murchison region 1,400 strong workforce For personal use only 1,300km2 tenure 4 underground mines 3 processing plants Owner / operator with extensive UG fleet MURCHISON OPERATIONS BRYAH OPERATIONS 5
Slide 6: Westgold is delivering
Westgold is delivering For personal use only Delivered a business turnaround Delivered FY23 Guidance Streamlined and simplified the business Produced 257koz of gold Expanded two mines, optimised two more and Top end of production guidance of put three into care and maintenance 240 – 260koz Imp
Slide 7: Our people are the key to our success
For personal use only Our people are the key to our success 7 7
Slide 8: Things you might not know about Westgold
For personal use only things you might not know about Westgold 8
Slide 9: Westgold is investing in our people
Westgold is investing in our people Westgold has reduced TRIFR by 63% in FY23 Westgold is promoting safety excellence For personal use only 15 25 22.91 12 Month rolling Injury Frequency Rate 12 18.44 20 Total Recordable Injury (TRI) count (injuries/million hours worked) 9 14.36 15 -63% -7% 6 9.03 10
Slide 10: Westgold is an innovator
Westgold is an innovator For personal use only Clean Energy Transition Hybrid loaders in operation2 • 38 million litre reduction per annum in diesel fuel usage • 32% reduction in diesel consumption • 34% power generating capacity supplied by renewables • 9% more tonnes per bucket • 56% reduction in
Slide 11: Westgold is profitable and cash flow positive
Westgold is profitable and cash flow positive Westgold’s turnaround has improved its cash and bullion position from Q2 FY23 For personal use only Cash, bullion and liquids position ($M) 189 190 192 168 157 159 159 6 139 87 Growth funds1 96 96 7 90 110 94 97 9 8 Liquid assets 9 7 151 8 132 6 6 101 97
Slide 12: Westgold now fully leveraged to the gold price
Westgold now fully leveraged to the gold price Additional ~$4.4M in monthly revenue from August 20231 For personal use only Forward contracts remaining (koz) 148 135 122 109 96 83 70 60 50 40 30 20 10 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 22 22 22 22 22 22 22 23 23 23 23 23 23 23 1
Slide 13: Westgold is investing in organic growth
Westgold is investing in organic growth Investing $60M in the development of 3 new mines Increasing exploration and resource development spend For personal use only Growth capital guidance on new mines in FY24 ($M) Exploration expenditure ($M) 25 60 6 Almost 150km of drilling achieved in FY23 24 19
Slide 14: The market is beginning to see Westgold's potential
The market is beginning to see Westgold’s potential Westgold shares have outperformed the XGD in 2023 Percentage change in closing price with 30 December 2022 baseline1 (%) For personal use only 100 90 Westgold 80 70 60 50 71% 40 S&P/All Ords Gold Index 30 (XGD) 20 10 0 -10 Jan 23 Feb 23 Mar 23 Apr
Slide 15: Westgold's FY24 strategic priorities
Westgold’s FY24 strategic priorities Continue to safely and For personal use only Invest in resource development and efficiently optimise our exploration drilling assets Continue free cash flow Sensibly invest in technology that generation drives cost reduction Assess inorganic growth Increase mine
Slide 16: Things you now know about Westgold
Things you now know about Westgold Investing in people 1 5 Investing in organic growth For personal use only Innovative 2 4 No fixed forward hedging 3 Profitable and cash flow positive ASX : WGX +250kOz gold producer in Western Australia www.westgold.com.au 1616
Slide 17: Curious about WGX?
Curious about WGX? For personal use only Come talk to us at Booth 6 or contact Investor Relations kasun.liyanaarachchi@westgold.com.au Media peter.knight@westgold.com.au www.westgold.com.au ASX : WGX 17