35 Westgold Resources Limited Annual Report 2024 Cue Gold Operations (CGO) CGO is located around the regional town of Cue and encompasses Westgold’s southern-most group of Murchison assets. This package includes two of Australia’s most prolific past producers in the Big Bell mine (2.6 million ounces) and the Great Fingall mine (1.2 million ounces). The CGO processing hub incorporates the 1.4 Mtpa Tuckabianna processing plant, a 148-person village at Big Bell, a 266-person village at Cue and associated mining infrastructure to support mining operations. The Tuckabianna plant receives underground ore from the large Big Bell underground, with supplementary feed provided by lower grade surface stockpiles. Following the completion of ramp up and commencement of steady state production in April 2022, Big Bell has consistently delivered design levels, producing 1.1Mt of ore at 2.1g/t for 79koz contained ounces of gold in FY24. In addition to current Mineral Resources and Ore Reserves, CGO has a number of development projects and exploration targets which should underwrite growth in gold production at the operations, including: – Big Bell Deeps – high grade sublevel open stopes located below the existing sublevel cave; – Great Fingall and Golden Crown – development commenced in November 2023; – Fender Mine – a shallow underground mine beneath Westgold’s Fender open pit, commenced mining in October 2023; – Caustons – on the Tuckabianna trend, close to the mill and high potential for underground mining; – Additional shallow targets on the Big Bell line of lode beneath the 700, 1600 and the Shocker pits; and – Open pit and underground targets within the Cuddingwarra Mining centre. Bryah Operations The Bryah Operations are centred upon the Fortnum Gold Operation (FGO). FGO is located within the Proterozoic age Bryah Basin stratigraphy approximately 150 km northwest of Meekatharra and represents the northernmost group of Westgold assets. These assets encapsulate the historic mining centres of Labouchere, Fortnum, Horseshoe and Peak Hill which collectively has delivered approximately 2 million ounces of reported gold production. The FGO processing hub incorporates the 0.9 Mtpa Fortnum carbon-in-leach (CIL) processing plant, a 200-person village, airstrip and associated mining infrastructure required to support mining operations. Mining output is currently dominated by the Starlight underground mine with supplementary, free on surface low grade stockpiles providing a blended feedstock to the plant. Gold output in FY24 was 58,752 ounces at a C1 Cash Cost of $1,483 per ounce and an all-in sustaining cost (AISC) of $1,883 per ounce as disclosed in the table on page 36. The increase in the gold output and gold price, resulted in an overall increase in revenue to $183,245,844 (2023: $136,991,592). Segment profits increased to $51,286,637 (2023: $7,944,123). In addition to current Mineral Resources and Ore Reserves, FGO has a number of exploration targets which should underwrite sustainable gold production at the operations beyond existing targets, including: – Extensions to the Starlight underground mine; – Expansion of the Starlight underground mine to include the development of the Nightfall lode; – Open pit mining from the historic Yarlarweelor, Nathans and Labouchere mines; – The Regent and Messiah deposits; and – New targets within the proximate Peak Hill tenements.
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