for the year ended 30 June 2022 FINANCIAL REPORT DIRECTORS’ REPORT 22 Westgold Resources Limited Annual Report 2022 CORPORATE OVERVIEW Westgold is an explorer and gold producer with a large and strategic land package in the Murchison and Bryah regions of Western Australia. After listing on the ASX in December 2016 the company has consolidated over 1,300 km2 of mining titles that encompass the Fortnum operations (the Bryah region in the north), the Meekatharra operations (in the centre of our tenure) and the Cue operations (in the south), of our Murchison portfolio. The gold endowment of the region is extensive with the Murchison being one of the largest historic goldfields inWestern Australia. To date the Murchison has produced more than 10million ounces of gold withWestgold reporting a total Mineral Resource of 7.9 million ounces with 2.2 million ounces of gold in Ore Reserves (refer ASX announcement 29 September 2021). During FY22Westgold operated six underground mines, several open pits and three processing plants (currently with an installed processing capacity of ≈4 Mtpa) and continued to build its production profile since listing with gold output totalled 270,884 ounces from its Bryah and Murchison operations in FY22. CORPORATE STRUCTURE Westgold’s corporate structure is depicted below. WESTGOLD RESOURCES LIMITED ACN 009 260 306 Bryah Operations Mining Services Murchison Operations ARAGON RESOURCES PTY LTD ACN 114 714 662 WESTGOLDMINING SERVICES PTY LTD ACN 080 756 172 BIG BELL GOLD OPERATIONS PTY LTD ACN 090 642 809 OPERATING AND FINANCIAL REVIEW IMPACT OF COVID-19 Westgold did not apply for or receive any COVID-19 funding support from the Federal or State governments during FY22. Westgold utilises a predominantly fly-in, fly-out (FIFO) and drive-in, drive-out (DIDO) workforce to operate its Western Australian gold assets. Ongoing state and regional border closures in early FY22, followed by the opening of theWestern Australian border in late FY22, continued to disrupt labour availability during the year. The direct financial impact of COVID-19 is difficult to estimate but it is clear that the disruptive nature on labour availability across the world has materially impacted energy, consumables and reagent supply across the mining sector. Westgold continues to closely monitor the health advice across Australia and work cooperatively with government departments and other stakeholders and has proactively worker to mitigate impacts of COVID-19.
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