Westgold Resources Limited Annual Report 2021

for the year ended 30 June 2021 FINANCIAL REPORT DIRECTOR’S REPORT 26 Westgold Resources Limited Annual Report 2021 Mining Services Division (MPL) Westgold is unique in the WA mining sector in that it is predominantly an owner-operator of its mines, with the underground mining services division operating through a 100% owned subsidiary. During FY2021 MPL was refocussed to provide services exclusively to Westgold and these services were undertaken on a cost re-imbursement basis. This resultantly reduced external revenue to $69,069 (2020: $1,178,623). Westgold Operating Performance by Operation MURCHISON BRYAH GROUP Year Ended 30 June 2021 MGO CGO FGO Physical Summary Units UG Ore Mined t 1,024,569 813,602 703,508 2,541,679 UG Grade Mined g/t 2.87 2.63 2.71 2.75 OP Ore Mined t 306,580 335,383 – 641,962 OP Grade Mined g/t 1.32 1.94 – 1.65 Ore Processed t 1,684,490 1,261,129 822,326 3,767,945 Head Grade g/t 2.23 2.30 2.40 2.29 Recovery % 85.21 88.21 95.21 88.40 Gold Produced oz 103,061 82,086 60,265 245,411 Gold Sold oz 103,728 81,326 60,011 245,066 Achieved Gold Price $/oz 2,321 2,333 2,344 2,330 Cost Summary Mining $/oz 873 687 647 755 Processing $/oz 376 377 347 369 Admin $/oz 74 73 71 73 Stockpile Adjustments $/oz (14) (58) (56) (39) C1 Cash Cost (produced) 1 $/oz 1,309 1,079 1,009 1,158 Royalties $/oz 125 60 68 89 C2 Cash Cost (produced) $/oz 1,434 1,139 1,077 1,247 Corporate Costs $/oz 11 14 22 14 Sustaining Capital $/oz 183 69 205 150 All-in Sustaining Costs 2 $/oz 1,628 1,222 1,304 1,411 Project Startup Capital $/oz 313 1,183 207 578 Plant and Equipment $/oz 124 126 62 109 Exploration Holding Cost $/oz 72 54 40 58 All-in Cost 3 $/oz 2,137 2,585 1,613 2,156