Westgold Resources Ltd · ASX:WGX
Westgold Resources — Diggers & Dealers 2018
21 slides from Westgold Resources's conference presentation, August 2018
Slide 1: Diggers & Dealers August 2018
Diggers & Dealers August 2018
Slide 2: A Golden Opportunity!
A GOLDEN OPPORTUNITY! Westgold has over the previous 5 years built an enviable holding of gold assets culminating with 4 processing centre’s and circa 12 million ounces of reserves and resources . “Westgold has grown to be the 6th largest domestic gold producer in Australia. ” Westgold is currently
Slide 3: Corporate Snapshot
CORPORATE SNAPSHOT CORPORATE STRUCTURE (ASX:WGX) BOARD Issued Shares 363 million Ch Peter J. Newton Listed Options (30 June 2019 @ A$2.00) 64.1 million MD Peter G. Cook Unlisted Options (various empl.) 15.0 million DOp’s Steve Norregaard Market Cap ($1.60/sh) ~ A$580m NED Peter B. Schwann Corporate
Slide 4: Four Gold Operations – Purely West Australian
FOUR GOLD OPERATIONS – PURELY WEST AUSTRALIAN Central processing hub servicing multiple mines Steady State Production Ranges shown Fortnum Gold Project 1 million tpa 41,800 oz in first year (FY 2018) Steady State 60-75,000 oz per annum Meekatharra Gold Operations 1.6 – 1.8 million tpa 112,430 oz in
Slide 5: Production Forecast & Growth
PRODUCTION FORECAST & GROWTH FY 2018 (actual) FY 2019 (fcst) FY 2020 (fcst) >350,000oz 300 - 320,000oz 253,210oz AISC A$1300 - 1350/oz AISC A$1250 - 1300/oz AISC A$1463/oz Note: Big Bell Mine Starts at end CY2019 (ramps to 100,000oz pa by end FY 2020)
Slide 6: Typically Australian Gold Projects – CMGP as an Example
TYPICALLY AUSTRALIAN GOLD PROJECTS – CMGP AS AN EXAMPLE Meekatharra Gold Operations (MGO) Multiple feed sources (underground and open pit mines) to a centralised ore processing hubs. Big Bell Cue Gold Operations (CGO) 6
Slide 7: Meekatharra Gold Operations (MGO)
MEEKATHARRA GOLD OPERATIONS (MGO) 120 – 140,000 OZ PA Produced 112,430oz in FY 2018, moving to more underground output with higher grades. 7
Slide 8: MGO - Paddy's Flat, the Main Mine
MGO (GMGP) - PADDY’S FLAT, THE MAIN MINE A mine producing at 600,000 tpa at 4+ g/t on remnants and BIF ores. Gets under the main old workings by end 2019. Fenians Mine produced 684,000oz at 16.5 g/t to depth of 420m VD. New drilling shows extensions of bonanza lodes.. 9
Slide 9: MGO – South Emu – Triton Mine
MGO – SOUTH EMU – TRITON MINE Another high grade feed REEDY’S - ANOTHER U/G MINING CENTRE 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 Boomerang U/G mine and R
Slide 10: CGO – Cue Gold Operations
CGO – CUE GOLD OPERATIONS 90 – 110,000 OZ PA WHEN IN STEADY STATE HISTORIC PRODUCTION Plant started in June Qtr (~8,200oz), ramps to 70,000oz + in FY 2018, then >100,000 with Big Bell 10
Slide 11: CGO - Big Bell, the Cornerstone Mine
CGO - BIG BELL, THE CORNERSTONE MINE “ A sub-level cave mine being re-established. Expected steady state production of 1.0mtpa @ 3.2 ” g/t for 100,000ozpa. Dewatering significantly progressed and first ore before year end. Then, progressive ramp-up over 18-months to full production. Resource Categor
Slide 12: CGO – Comet Mine, Small Mine Filling the Gap
CGO –COMET MINE, SMALL MINE FILLING THE GAP A small mechanised mine in production whilst Big Bell builds. In steady state production of 360,000 tpa @ 3.8 g/t for 40,000ozpa. Current mine life of 3-4 years. Good potential to extend. 14
Slide 13: CGO – Great Fingall & Golden Crown Mines
CGO – GREAT FINGALL & GOLDEN CROWN MINES Both mines prolific high- grade historic producers: Open Pit mining at Great Fingall to commence in August 2018. Decline to mine high-grade extensions to start when Big Bell is full production. Ore can go to Tuckabianna(CGO) of Bluebird Mill (MGO) Cream on th
Slide 14: Fortnum Gold Project (FGP)
FORTNUM GOLD PROJECT (FGP) 60 - 70,000 OZ PA STEADY STATE “ Completed first full year of ramp-up – produced 41,800oz 70,000oz+ in FY 2019. ” TWILIGHT UNDERGROUND MINE Shallowly drilled. Three main feedstocks: 3 major lodes all open at depth. Starlight Underground Mine. The makings of a great 400,000
Slide 15: Higginsville Gold Operations (HGO)
HIGGINSVILLE GOLD OPERATIONS (HGO) 50 – 65,000 OZ PA “ Dominant land position. Bulk low-grade long-life open pits – Mt Henry Group ” Polar Bear projects acquired from S2 Resources to be mined in FY 2019 to supplement feedstock. Toll Processing (ex SKO) to take 40% of plant capacity in FY 2019. Expan
Slide 16: Predominantly Owner Operator – Unique!
PREDOMINANTLY OWNER OPERATOR – UNIQUE! “ • We own major underground mining fleet. ” • We own our own raise drilling and underground diamond drill fleets. • We own substantial open pit mining fleet. • We operate our own crane, elevated work platform and low loader fleets. • We have a vast base of tec
Slide 17: Investment Synopsis
INVESTMENT SYNOPSIS A significant gold producer. “ Long-life mines and asset rich. For your consideration this is Westgold! ” Large resource & reserve base. Emerging from a period of heavy capital investment. Invested heavily in protectionist and owner-operator plant. Fiscally Strong, minimal debt (
Slide 18: Other Assets (Non-Core but Valuable and May Be Divested)
OTHER ASSETS (NON-CORE BUT VALUABLE AND MAY BE DIVESTED) • Rover Project (NT) Ø High-grade Virgin IOCG deposit at Rover 1 Ø Virgin Pb-Zn-Ag discovery at Explorer 108 Ø Curiosity virgin discovery (11.7m @ 3.73%Pb, 4.86%Zn, 1.02g/t Au, 33g/t Ag) – (refer ASX:MLX 22/12/14) Ø Dominant land Position in v
Slide 19: Peer Comparatives – EV/Resources oz
PEER COMPARATIVES – EV/RESOURCES OZ EV/Resource oz $450.00 $400.00 $350.00 $300.00 $250.00 $200.00 $150.00 $100.00 $50.00 $0.00 Westgold Beadell Si lver Lake Ramelius Resolute Doray Saracen St Barbara Nort hern Star Regi s Evolution OceanaGold Resources Resources Resources Resources Mining Minerals
Slide 20: Total Gold Inventory by JORC Category & Project
TOTAL GOLD INVENTORY BY JORC CATEGORY & PROJECT WESTGOLD RESOURCES LIMITED WESTGOLD RESOURCES LIMITED Gold Division Gold Division Mineral Resource Statement - Rounded for Reporting Mineral Reserve Statement - Rounded for Reporting 30/6/17 30/6/17 Project k Tonnes Grade k Ounces Au Project k Tonnes G
Slide 21: 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