Westgold Resources Limited Annual Report 2021

27 Westgold Resources Limited Annual Report 2021 MURCHISON BRYAH GROUP Year Ended 30 June 2020 MGO CGO FGO Physical Summary Units UG Ore Mined t 898,911 462,479 497,578 1,858,968 UG Grade Mined g/t 3.60 2.99 3.18 3.34 OP Ore Mined t 379,909 563,329 – 943,238 OP Grade Mined g/t 1.55 1.34 – 1.42 Ore Processed t 1,508,812 1,270,953 865,254 3,645,019 Head Grade g/t 2.62 1.89 2.29 2.29 Recovery % 81.90 90.75 95.56 88.23 Gold Produced oz 104,088 70,223 60,839 235,150 Gold Sold oz 103,095 70,893 61,208 235,196 Achieved Gold Price $/oz 2,052 2,099 2,135 2,088 Cost Summary Mining $/oz 746 985 568 771 Processing $/oz 344 480 360 389 Admin $/oz 61 78 63 67 Stockpile Adjustments $/oz 20 6 86 33 C1 Cash Cost (produced) $/oz 1,171 1,549 1,077 1,260 Royalties $/oz 122 58 67 89 Sustaining Capital $/oz 193 107 142 154 Corporate Costs $/oz 10 15 22 15 All-in Sustaining Costs $/oz 1,496 1,729 1,308 1,518 Project Startup Capital $/oz 412 988 164 520 Exploration Holding Cost $/oz 64 63 52 60 All-in Cost $/oz 1,972 2,780 1,524 2,098 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. 3. All-in Cost (AIC): is made up of the AISC plus growth (major project) capital and discovery expenditure. C1, C2, AISC and AIC are non-IFRS measures and have not been audited. CORPORATE Gold Forward Contracts At the end of the financial year, the Group had unrecognised sales contracts for 156,000 ounces at an average price of $2,133 per ounce ending in March 2023, which the Group will deliver physical gold to settle (refer to Note 5). Lithium Royalties Westgold divested the Mount Marion Lithium Royalty to a third party during FY2021 for cash (refer to Note 15).