29 Westgold Resources Limited Annual Report 2023 Year Ended 30 June 2022 MURCHISON BRYAH GROUP Physical Summary Units UG Ore Mined t 2,433,591 705,868 3,139,459 UG Grade Mined g/t 2.7 2.9 2.8 OP Ore Mined t 669,454 – 669,454 OP Grade Mined g/t 1.6 – 1.6 Ore Processed t 2,872,855 825,070 3,697,925 Head Grade g/t 2.5 2.6 2.5 Recovery % 89 95 90 Gold Produced oz 204,937 65,947 270,884 Gold Sold oz 203,986 65,719 269,705 Achieved Gold Price $/oz 2,399 2,408 2,401 Cost Summary Mining $/oz 1,158 822 1,076 Processing $/oz 406 370 397 Admin $/oz 88 76 84 Stockpile Adjustments $/oz (165) 26 (119) C1 Cash Cost (produced)1 $/oz 1,487 1,294 1,438 Royalties $/oz 95 62 87 Corporate Costs $/oz 20 36 24 Sustaining Capital $/oz 146 133 143 All-in Sustaining Costs2 $/oz 1,748 1,525 1,692 1. C1 Cash Cost (C1): represents the cost for mining, processing and administration after accounting for movements in inventory (predominantly ore stockpiles). It includes net proceeds from by-product credits but excludes the cost of royalties and capital costs for exploration, mine development and plant and equipment. 2. All-in Sustaining Cost (AISC): is made up of the C1 cash cost plus royalty expense, sustaining capital expense and general corporate and administration expenses. CORPORATE Gold Forward Contracts At the end of the financial year, the Group had unrecognised sales contracts for 10,000 ounces at an average price of $2,459 per ounce ending in July 2023, which the Group will deliver physical gold to settle (refer to Note 5). During 2023, the Group entered into zero-cashflow collar contracts whereby the Group purchased a total of 30,000 ounces of gold call options and sold a total of 30,000 ounces of gold put options contracts with equal and offsetting values at inception. These contracts are comprised of put options of $2,700/oz and call options of $3,340/oz. All of these contracts were outstanding at 30 June 2023 and mature over the period July 2023 to June 2024. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS Total equity increased to $598,339,298 (2022: $587,767,457). This included share based payments of $1,039,025. SIGNIFICANT EVENTS AFTER THE BALANCE DATE There have been no other significant events after the balance date.
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