March Corporate Update
ASX / TSX : WGX
Westgold Resources Limited
Bridging the valuation gap
Important Notices and Disclaimer
Investor Presentation
This investor presentation is dated 10 March 2025 and has been prepared by Westgold Resources Limited (ASX: WGX,
TSX:WGX) (Westgold) based on information available to it at the time of preparing this presentation. No representation or
warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions
and conclusions contained in this presentation.
To the maximum extent permitted by law, none of Westgold, its directors, employees or agents, advisers, nor any other person,
accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any
other person, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.
Not an Offer
This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for,
purchase or sale of any security, and neither this presentation nor anything in it shall form the basis of any contract or
commitment whatsoever.
This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in
the United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the
United States or any other jurisdiction. Any securities described in this presentation have not been, and will not be, registered
under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under
the US Securities Act or exempt from, or not subject to, the registration of the US Securities Act and applicable US state
securities laws.
Summary Information
By reviewing or retaining these materials, or attending or participating in this presentation, you acknowledge and represent
that you have read, understood and accepted the terms of this “Important Notices and Disclaimer”. This presentation contains
summary information about Westgold and its activities current only at the date of this presentation. This presentation is for
information purposes only. The information in the presentation is of a general nature only and does not purport to be
complete. This presentation should be read in conjunction with Westgold’s periodic and continuous disclosure
announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au and on
Westgold's website at www.westgold.com.au, and in Canada under Westgold's profile on SEDAR+ at www.sedarplus.ca.
Certain information in this presentation may have been obtained from research, surveys or studies conducted by third parties,
including industry or general publications. Neither Westgold nor its representatives have independently verified any such
information sourced from third parties or industry or general publications.
This presentation is in summary form and does not purpose to be exhaustive. Westgold makes no representation or warranty
(either expressed or implied) as to the accuracy, reliability or completeness of the information in this presentation. Westgold
and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by
reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied)
arising out of, contained in or derived from, or for any omissions from the presentation, except liability under statute that
cannot be excluded.
Forward-looking Statements
This document contains “forward-looking information” and “forward-looking statements” which are based on the
assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends,
current conditions and expected developments, as well as other factors that management of Westgold believes to be relevant
and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or
conditions, or include words such as ‘expects’, ‘anticipates’, ‘plans’, ‘believes’, ‘estimates’, ‘seeks’, ‘intends’, ‘targets’, ‘projects’,
‘forecasts’, or negative versions thereof and other similar expressions, or future or conditional verbs such as ‘may’, ‘will’,
‘should’, ‘would’ and ‘could’. Although management believes that the assumptions made by Westgold and the expectations
represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to
be accurate.
Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual
results, performance or achievements of Westgold to be materially different from any anticipated future results, performance
or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual
market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project
parameters as plans continue to be evaluated, changes in laws, regulations and practices, the geopolitical, economic,
permitting and legal climate that Westgold operates in, as well as those factors disclosed in Westgold's publicly filed
documents. Westgold believes that the assumptions and expectations reflected in the forward-looking information are
reasonable. Readers should not place undue reliance on forward-looking information. Westgold does not undertake to update
any forward-looking information, except in accordance with applicable securities laws.
Historical Information
Information about the past performance of Westgold contained in this presentation is given for illustrative purposes only and
cannot be relied upon as an indicator of (and provides no guidance as to) future performance, including future share price
performance of Westgold. Any such historical information is not represented as being, and is not, indicative of Westgold’s view
on its future financial condition and/or performance, nor the future financial condition and/or performance of the merged
group.
Not Investment Advice
This presentation does not constitute in any way an offer or invitation to subscribe for securities in Westgold pursuant to the
Corporations Act 2001 (Cth). This presentation does not constitute investment advice and has been prepared by Westgold
without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient
must make his/her own independent assessment and investigation of Westgold and its business and assets when deciding if
an investment is appropriate and should not rely on any statement or the adequacy and accuracy of any information.
2
Important Notices and Disclaimer
Ore Reserves and Mineral Resources
JORC CODE
This presentation refers to Westgold having a combined Ore Reserve and Mineral Resource estimate of 13.2Moz and 3.3Moz
(respectively) and refers to the individual Ore Reserve (or Mineral Reserve) and Mineral Resource estimate of Westgold.
It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with
the JORC Code. Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of Westgold
in this presentation comply with the JORC Code (such JORC Code-compliant Ore Reserves and Mineral Resources being
"Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries
and, in particular, do not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the
Canadian Securities Administrators (the "NI 43-101"); or (ii) Item 1300 of Regulation S-K, which governs disclosures of
Mineral Reserves in registration statements filed with the SEC. Information contained in this presentation describing mineral
deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure
requirements of Canadian or US securities laws.
The information in this presentation that relates to the Ore Reserves and Mineral Resources of Westgold (except for Starlight
Mineral Resources and Bluebird-South Junction Ore Reserves and Mineral Resources) has been extracted from the ASX
announcement titled “Westgold 2024 Mineral Resources and Ore Reserves " released to the ASX on 16 September 2024 and
available at www.asx.com.au. The information in this presentation that relates to the Mineral Resources of Starlight has been
extracted from the ASX announcement titled “Starlight Mineral Resource Grows by 91%" released to the ASX on 13
November 2024 and available at www.asx.com.au. The information in this presentation that relates to the Mineral Resources
and Ore Reserves of Bluebird-South Junction has been extracted from the ASX announcement titled “Westgold Doubles
Bluebird - South Junction Ore Reserve" released to the ASX on 4 December 2024 and available at www.asx.com.au. Westgold
confirms that it is not aware of any new information or data that materially affects the information included in that
announcement, and that all material assumptions and technical parameters underpinning the estimates in that
announcement continue to apply and have not materially changed. Westgold confirms that the form and context in which
the Competent Persons findings are presented have not been materially modified from that announcement.
The information in this presentation that relates to Westgold’s Exploration results and Mineral Resource Estimates is
compiled by Westgold technical employees and contractors under the supervision of Mr. Jake Russell B.Sc. (Hons), who is a
member of the Australian Institute of Geoscientists and who has verified, reviewed and approved such information. Mr
Russell is a full-time employee of Westgold and has sufficient experience which is relevant to the styles of mineralisation
and types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as
defined in the Joint Ore Reserves Committee’s 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves
(JORC Code) and as a Qualified Person as defined in the CIM Guidelines and NI 43-101. Mr. Russell is a full-time employee
as General Manager – Technical Services of Westgold and, accordingly, is not independent for purposes of NI 43-101. Mr
Russell consents to and approves of the inclusion in this presentation of the matters based on his information in the form
and context in which it appears. Mr Russell is eligible to participate in short and long-term incentive plans of Westgold.
The information in this presentation that relates to Westgold’s Ore Reserve is based on information compiled by Mr. Leigh
Devlin B.Eng. FAusIMM and who has verified, reviewed and approved such information. Mr. Devlin has sufficient experience
which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which they are
undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person as defined in the CIM
Guidelines and NI 43-101. Mr. Devlin is full-time senior executive of Westgold and, accordingly, is not independent for
purposes of NI 43-101. Mr. Devlin consents to and approves of the inclusion in this presentation of the matters based on his
information in the form and context in which it appears. Mr. Devlin is a full-time senior executive of Westgold and is eligible to
and may participate in short-term and long-term incentive plans of Westgold as disclosed in its annual reports and
disclosure documents.
Investment Risk
As noted above, an investment in shares in Westgold is subject to investment and other known and unknown risks, some of
which are beyond the control of Westgold. Westgold does not guarantee any particular rate of return or the performance of
Westgold, nor does it guarantee the repayment of capital from Westgold or any particular tax treatment. Prospective
investors should have regard to the risks outlined in this presentation when making their investment decision and should
make their own enquires and investigations regarding all information in this presentation, including but not limited to the
assumptions, uncertainties and contingencies which may affect future operations of Westgold and the impact that different
future outcomes may have on Westgold. These risks, together with other general risks applicable to all investments in listed
securities not specifically referred to, may affect the value of shares in Westgold in the future. There is no guarantee that the
Westgold shares will make a return on the capital invested, that dividends will be paid on the Westgold shares or that there
will be an increase in the value of the Westgold shares in the future. Accordingly, an investment in Westgold should be
considered highly speculative and potential investors should consult their professional advisers before deciding whether to
subscribe for Westgold shares.
Effect of Rounding
A number of figures, amounts, percentages, estimates and calculations of value in this presentation are subject to the effect
of rounding. The actual calculation of these figures may differ from the figures set out in this presentation.
3
Westgold – our value proposition
Established, top 5 ASX / top 10 TSX gold producer valued at ~$2.3Bn [1]
Unhedged gold producer – full exposure to gold price
Murchison
Asset rich – Five processing plants and six
underground mines across 2 of WA’s richest gold fields
Kalgoorlie
Southern Goldfields
Robust balance sheet - enables self-funded growth
Set to bridge the valuation gap…
1. Based on closing price of A$2.49/share on 7 March 2025 and 943.1m shares outstanding.
4
Asset and infrastructure rich
Murchison
Southern Goldfields
2
3,200km
of tenure
across two of
WA’s richest
goldfields
>35Moz gold endowment
>120Moz gold endowment
5
FY25 Guidance
Outputs anticipated to increase in H2 FY25
Updated FY25
Guidance
FY25 YTD Actual
H2 FY25 Guidance
330,000 – 350,000
158,255
172,000 – 192,000
2,400 – 2,600
2,562
2,400 – 2,600
Growth Capital ($M)
200
114
86
Exploration ($M)
50
23
27
Production (oz)
AISC ($/oz)
6
Two mine expansions
Beta Hunt annualised run rate (Mtpa)
Bluebird annualised run rate (Mtpa)
0.62
Impact of
updated ground
support on ramp
up
0.55
0.45
0.26
0.24
1.90
1.60
1.43
1.39
1.51
Primary vent,
rising main
failure
0.26
Pre-merger
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
7
South Junction delivers expanded output
Transverse stoping increases mining rates but requires increased development up front
South Junction - ~615kt
Bluebird - ~89kt
Bluebird – South Junction 1015 level,
plan view
8
Beta Hunt infrastructure upgrades progressing
Ventilation
Mine Water
Replacing existing non-OEM bearings with
OEM bearings
• Pumps and piping on order
B6 Primary Vent Fan
Additional OEM bearings added to the
critical spares inventory
Primary Vent Upgrade
Installation of two New Primary Vent Fans increase Primary ventilation by 50%
Civil works for fan installation complete
Completion on schedule for late April
2025.
Raising Main Replacement
• Increase pumping capacity out of the mine
from 20l/s to 50l/s
• Project completion planned for May 2025
Water supply from Formidable Pit
Underground Power
High Voltage underground Feeder
replacement
• Current feeder cable is old and suspended
down a return air vent shaft creating
increased risk of cable damage
Infrastructure on order
• Replacement project will drill a new
surface hole and install a new high voltage
feeder.
Project completion planned for late
April 2025.
Project completion planned for June
2025
9
Agreements established
Drilling investment adds ounces
… enhances the rate of discovery and resource conversion
Exploration investment growing with capability
& success
Growth in exploration expenditure
H2 FY25 Guidance
Actual
$50M
$27M
$25M
Actual
$19M
$23M
FY23
FY24
This investment has delivered:
613koz resource addition in FY24
365km of cumulative drilling in FY24
Substantial increases in group Reserve
and Resources post depletion including:
107% increase in Bluebird-South
Junction Reserve since August 2024
91% increase in Starlight Mineral
Resource since June 2024
FY25
10
Treasury enables our strategy
Strong Balance Sheet
Upsized credit facility
Unhedged gold production
Dividend policy
$152M in Cash, Bullion and Liquid
Investments at 31 December 2024
Access to $300M in credit
facilities, with $250M undrawn
at 31 December 2024
Record revenue of $624M in H1 FY25
Minimum 1 cent per share
annualised dividend up to a
maximum of 30% free cash flow
11
Sustainability
The right approach to protecting our people and the environment
82MW of hybrid power (gas, solar and battery)
facilities now in operation
Reducing Total Injury Frequency Rate
12 Month rolling Injury Frequency Rate
(injuries/million hours worked)
20
These hybrid facilities:
18.44
Reduce diesel consumption by
38 million litres per annum
15
10
6.85
Reduce carbon emissions by 56%
5
Deliver ≈$60/oz in AISC savings1
0
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
FY23 FY23 FY23 FY23 FY24 FY24 FY24 FY24 FY25 FY25
1. At a diesel price assumption of A$1.64/L. AISC savings refer to the Murchison operations only.
12
Bridging the value gap
Portfolio optimisation - Larger mines feeding larger mills
Cost base optimisation – underway and rapidly gaining
momentum
Transverse stoping at South Junction – will increase mine
outputs rapidly
Beta Hunt infrastructure upgrades – enables
higher productivity from Q4
17 rigs drilling – defining resource and adding
ounces
13
Westgold – post merger
Top 5 ASX / Top
10 TSX Producer
$2.3B market
capitalisation[1]
Unhedged
Financial
Strength
One of Australia’s
largest fully unhedged
gold producers
Robust balance sheet
with $300M debt
facility
Portfolio now has
scale
Diversification
Merger with Karora
establishes platform
that can be scaled &
optimised for FCF
Operating in two of
Australia’s most
abundant gold fields
1. Based on closing price of A$2.49/share on 7 March 2025 and 943.1m shares outstanding.
Investing in
Growth
Shareholder
Returns is Our
Focus
Large organic
growth pipeline
Focus on FCF and
returns to shareholders
not scale for scale sake
14
Contact Information
Bridging the valuation gap
Investor Relations
Kasun Liyanaarachchi | Group Manager IR & Communications
kasun.liyanaarachchi@westgold.com.au
+61 458 564 483
ASX / TSX: WGX
westgold.com.au
Board and management
Hon. Cheryl Edwardes AO
Wayne Bramwell
Julius Matthys
Fiona Van Maanen
Gary Davison
David Kelly
Independent
Non-Executive Chair
Managing
Director & CEO
Independent NonExecutive Director
Independent
Non-Executive Director
Independent NonExecutive Director
Independent
Non-Executive Director
Shirley In’t Veld
Independent
Non-Executive Director
Tommy Heng
Aaron Rankine
Simon Rigby
Susan Park
Melissa Wren
Anastasia Gotjamanos
Andrew McDougall
Chief Financial Officer
Chief Operating Officer
Chief Growth Officer
Company Secretary
Chief People Officer
Chief Legal Officer
Chief Technical Officer
16
Resource now 1.4Moz – up 244% from FY23 MRE
BluebirdSouth
Junction Ore
Reserve is
currently
573Koz
17
Beta Hunt – Fletcher and Mason are next
18
Great Fingall
19
Big Bell & Fender
20
Starlight
21
Mineral Resource Statement: Operating Mines
[1],[2]
At 30 June 2024
Murchison Gold Operations (Rounded for reporting)
Measured
Indicated
Measured and Indicated
Tonnes
Ounces
Grade
('000s)
Au ('000s)
Inferred
Total
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Big Bell UG
4,022
3.07
397
7,965
3.33
853
11,988
3.24
1,250
5,927
3.11
593
17,914
3.20
1,842
Fender UG
95
3.22
10
201
3.05
20
297
3.10
30
345
3.33
37
642
3.23
67
Great Fingall UG
0
0.00
0
1,616
5.25
273
1,616
5.25
273
883
3.51
100
2,499
4.64
372
Golden Crown UG
0
0.00
0
333
6.18
66
333
6.18
66
944
5.14
156
1,277
5.41
222
Bluebird Group UG
304
4.09
40
4,368
3.03
425
4,672
3.10
465
6,032
2.55
495
10,705
2.79
960
Starlight UG
881
4.01
114
1,973
3.44
218
2,854
3.62
332
2,588
3.13
260
5,442
3.38
592
Total
5,303
3.29
561
16,457
3.51
1,855
21,760
3.45
2,415
16,719
3.05
1,641
38,479
3.28
4,056
Project
Southern Goldfields Gold Operations (Rounded for reporting)
Measured
Indicated
Measured and Indicated
Inferred
Total
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Tonnes
('000s)
Grade
Ounces
Au ('000s)
Two Boys
24
1.55
1
1,141
2.32
85
1,165
2.30
86
184
2.78
16
1,349
2.37
103
Pioneer
0
0.00
0
519
2.11
35
519
2.11
35
345
1.50
17
864
1.87
52
Beta Hunt
1,142
2.79
102
16,581
2.74
1,458
17,723
2.74
1,561
12,860
2.63
1,086
30,583
2.69
2,647
Total
1,166
2.76
104
18,241
0.21
120
19,407
0.36
224
13,388
2.60
1,119
32,795
2.66
2,801
Project
Beta Hunt Nickel Operation (Rounded for reporting)
Measured
Project
Beta Hunt
Total
1.
2.
Tonnes
('000s)
0
0
Indicated
Ni (%)
NiT ('000s)
0.0%
0
Tonnes
('000s)
749
0.0%
0
749
Ni (%)
NiT ('000s)
2.8%
21
2.8%
21
Measured and Indicated
Tonnes
Ni (%)
NiT ('000s)
('000s)
749
2.8%
21
749
2.8%
21
Inferred
Tonnes
('000s)
499
499
Total
Ni (%)
NiT ('000s)
2.7%
13
Tonnes
('000s)
1,248
2.7%
13
1,248
Ni (%)
NiT ('000s)
2.8%
35
2.8%
35
See Westgold ASX Announcement dated 16 September 2024 – Resources and Reserve Statement. See Westgold ASX Announcement dated 16 September 2024 – Resources and Reserve Statement available at www.asx.com.au. The Company confirms that it has since
published updates to its Starlight Mineral Resource (Refer ASX Release “Starlight Mineral Resource Grows by 91%” of 13 November 2024); and its Bluebird-South Junction Mineral Resource (Refer ASX Release “Bluebird-South Junction Mineral Resource Grows to 1.4Moz”
of 18 November 2024.) The Company advises that its Mineral Resource Statement as published on 16 September 2024 has not been updated to reflect the growth in the Mineral Resource Estimate for Starlight, nor for Bluebird-South Junction.
Refer to “Ore Reserves and Mineral Resources” section in slide 3 for the further information.
Southern Goldfields Reserves and Resources are as at 1 August 2024, corresponding to the merger completion.
22
Mineral Resource Statement: Non-Operating Projects
[1],[2]
At 30 June 2024
Project
Big Bell District
Cuddingwarra
Day Dawn District
Tuckabianna
Tuckabianna
Stockpiles
Meekatharra North
Nannine
Paddy's Flat
Reedy's
Yaloginda District
Bluebird Stockpiles
Fortnum District
Horseshoe
Peak Hill
FGO Stockpiles
Total
Project
HGO Central
HGO Greater
Mt Henry
HGO Stockpiles
BHO Stockpiles
Total
Tonnes
('000s)
60
85
58
267
Measured
Murchison Gold Operations (Rounded for reporting)
2.81
1.66
1.73
3.54
Ounces
Au ('000s)
5
5
3
30
Tonnes
('000s)
802
1,600
1,068
3,448
81
2.09
5
0
68
376
430
53
350
332
0
0
723
2,884
0.00
2.55
3.67
3.77
2.59
1.34
2.67
0.00
0.00
0.95
2.39
0
6
44
52
4
15
28
0
0
22
221
Tonnes
('000s)
931
466
11,042
373
47
12,859
Grade
Measured
Grade
2.94
3.00
1.19
0.40
2.09
1.37
Indicated
Measured and Indicated
Tonnes
Ounces
Grade
('000s)
Au ('000s)
861
2.65
73
1,685
1.63
88
1,126
2.02
73
3,715
2.84
339
2.64
1.63
2.04
2.78
Ounces
Au ('000s)
68
84
70
308
3,627
0.70
81
3,709
0.73
87
0
0.00
0
97
859
10,641
3,225
4,128
0
2,951
1,266
7,547
481
41,741
1.98
2.06
1.65
2.58
1.47
0.00
2.08
2.09
1.55
0.69
1.77
6
57
564
267
195
0
197
85
376
11
2,370
97
927
11,017
3,656
4,181
350
3,282
1,266
7,547
1,204
44,625
1.98
2.09
1.72
2.72
1.49
1.34
2.14
2.09
1.55
0.85
1.81
6
62
608
319
200
15
226
85
376
33
2,591
75
340
2,574
9,191
5,879
0
618
183
1,838
16
27,100
2.11
2.26
1.93
2.54
1.40
0.00
1.88
1.43
1.78
0.54
2.14
5
25
160
750
265
0
37
8
105
0
1,864
Grade
Tonnes
('000s)
1,848
597
1,043
2,899
Southern Goldfields Gold Operations (Rounded for reporting)
Ounces
Au ('000s)
88
45
424
5
3
565
Inferred
Tonnes
('000s)
2,442
2,799
10,172
1,568
0
16,981
Indicated
Grade
2.74
2.79
1.16
0.76
0.00
1.62
Ounces
Au ('000s)
215
251
378
38
0
882
Measured and Indicated
Tonnes
Ounces
Grade
('000s)
Au ('000s)
3,373
2.80
303
3,265
2.82
296
21,214
1.18
802
1,940
0.69
43
47
2.09
3
29,840
1.51
1,447
Tonnes
('000s)
1,519
1,999
2,565
0
0
6,083
2.94
1.50
1.78
2.63
Ounces
Au ('000s)
175
29
60
245
Tonnes
('000s)
2,709
2,282
2,169
6,614
Grade
Inferred
Grade
2.91
2.39
1.28
0.00
0.00
2.05
Ounces
Au ('000s)
142
154
106
0
0
402
Total
2.85
1.59
1.91
2.75
Ounces
Au ('000s)
248
117
133
584
3,709
0.73
87
172
1,267
13,591
12,846
10,060
350
3,900
1,449
9,385
1,220
71,724
2.04
2.14
1.76
2.59
1.44
1.34
2.10
2.01
1.60
0.84
1.93
11
87
768
1,069
464
15
263
93
481
33
4,455
Tonnes
('000s)
4,892
5,264
23,779
1,940
47
35,923
Grade
Total
Grade
2.83
2.66
1.19
0.69
2.09
1.60
Ounces
Au ('000s)
445
450
907
43
3
1,849
1. See Westgold ASX Announcement dated 16 September 2024 – Resources and Reserve Statement. The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement
and that all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in that announcement continue to apply and have not materially changed. Refer to “Ore Reserves and Mineral
Resources” section in slide 3 for the further information.
2. Southern Goldfields Reserves and Resources are as at 1 August 2024, corresponding to the merger completion.
23
Ore Reserves Statement: Operating Mines
[1],[2]
At 30 June 2024
Murchison Gold Operations (Rounded for reporting)
Proven
Project
Probable
Total
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Big Bell UG
9,808
1.48
467
4,898
3.10
489
14,706
2.02
956
Fender UG
81
2.58
7
147
2.68
13
228
2.65
19
Great Fingall UG
0
0.00
0
1,895
4.20
256
1,895
4.20
256
Golden Crown UG
0
0.00
0
230
4.52
33
230
4.52
33
Bluebird Group UG
75
3.91
9
2,967
2.81
268
3,041
2.83
277
Starlight UG
676
2.56
56
972
2.36
74
1,647
2.44
129
Total
10,640
1.58
539
11,107
3.17
1,132
21,747
2.39
1,671
Southern Goldfields Gold Operations (Rounded for reporting)
Proven
Project
Probable
Total
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Two Boys
0
0.00
0
0
0.00
0
0
0.00
0
Pioneer
0
0.00
0
135
2.30
10
135
2.30
10
Beta Hunt
304
2.69
26
5,940
2.70
516
6,244
2.70
542
Total
304
2.69
26
6,075
2.69
526
6,379
2.69
552
1. See Westgold ASX Announcement 16 September 2024 – Resources and Reserve Statement. The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement
and that all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in that announcement continue to apply and have not materially changed. Refer to “Ore Reserves and Mineral
Resources” section in slide 3 for the further information.
2. Southern Goldfields Reserves and Resources are as at 1 August 2024, corresponding to the merger completion.
24
Ore Reserves Statement: Non-Operating Projects
[1],[2]
At 30 June 2024
Murchison Gold Operations (Rounded for reporting)
Proven
Probable
Total
Project
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Big Bell District
Cuddingwarra
Day Dawn District
Tuckabianna
Tuckabianna Stockpiles
Meekatharra North
Nannine
Paddy's Flat
Reedy's
Yaloginda District
Bluebird Stockpiles
Fortnum District
Horseshoe
Peak Hill
FGO Stockpiles
Total
0
0
0
0
81
0
0
48
57
0
350
0
0
0
723
1,260
0.00
0.00
0.00
0.00
2.09
0.00
0.00
4.10
3.35
0.00
1.34
0.00
0.00
0.00
0.95
1.36
0
0
0
0
5
0
0
6
6
0
15
0
0
0
22
55
59
98
0
683
3,627
0
262
435
398
0
0
429
357
0
481
6,828
2.98
1.77
0.00
3.00
0.70
0.00
1.93
3.86
3.42
0.00
0.00
1.85
2.18
0.00
0.69
1.52
6
6
0
66
81
0
16
54
44
0
0
26
25
0
11
334
59
98
0
683
3,709
0
262
483
455
0
350
429
357
0
1,204
8,088
2.98
1.77
0.00
3.00
0.73
0.00
1.93
3.88
3.41
0.00
1.34
1.85
2.18
0.00
0.85
1.50
6
6
0
66
87
0
16
60
50
0
15
26
25
0
33
389
Proven
Project
HGO Central District
HGO Greater
Mt Henry
HGO Stockpiles
BHO Stockpiles
Total
Southern Goldfields Gold Operations (Rounded for reporting)
Probable
Total
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
Tonnes ('000s)
Grade
Ounces Au ('000s)
132
288
7,208
298
47
7,973
2.20
2.28
1.30
0.80
2.09
1.34
9
21
301
8
3
342
512
1,303
3,622
569
0
6,006
3.02
3.00
1.37
0.80
0.00
1.81
50
126
160
15
0
349
644
1,591
10,830
867
47
13,979
2.85
2.87
1.32
0.80
2.09
1.54
59
147
461
22
3
692
1. See Westgold ASX Announcement 16 September 2024 – Resources and Reserve Statement. The Company confirms that it is not aware of any new information or data that materially affects the information included in that
announcement and that all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in th
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