Westgold Resources Online Annual Report 2024

37 Westgold Resources Limited Annual Report 2024 Year Ended 30 June 2023 MURCHISON BRYAH GROUP PHYSICAL SUMMARY Units UG Ore Mined t 2,256,023 687,395 2,943,418 UG Grade Mined g/t 2.9 2.4 2.8 Ore Processed t 2,822,282 802,753 3,625,035 Head Grade g/t 2.5 2.2 2.5 Recovery % 88 96 90 Gold Produced oz 203,382 53,735 257,116 Gold Sold oz 202,026 53,983 256,009 Achieved Gold Price $/oz 2,556 2,556 2,556 COST SUMMARY Mining $/oz 1,052 1,083 1,058 Processing $/oz 467 560 487 Admin $/oz 104 120 107 Stockpile Adjustments $/oz 64 17 54 C1 CASH COST (PRODUCED)1 $/oz 1,686 1,780 1,706 Royalties $/oz 96 65 90 Corporate Costs $/oz 26 55 32 Sustaining Capital $/oz 163 203 172 ALL-IN SUSTAINING COSTS2 $/oz 1,971 2,103 1,999 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 Hedging At the end of the financial year, the Group had no unrecognised sales contracts. In FY24, the Group had in place 30,000oz of zero cost collars comprising put options at $2,700/oz and call options at $3,340/ oz for deliveries of 2,500oz per month from July 2023 to June 2024, subject to the put and call being struck. This strategy protects the downside of gold price volatility with the put option only being triggered if the gold price falls to $2,700/oz. The upside on this small volume of production is also capped and again, only triggered if the gold price hits $3,340/oz. During FY24, a total of 10,000oz of call options were struck at $3,340/oz. The Zero Cost Collars has concluded at the end of 30 June 2024 and Westgold has no derivative contracts outstanding as at 30 June 2024 and is now unhedged and fully leveraged to the gold price. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS Total equity increased to $691,801,106 (2023: $598,339,298). This included share based payments of $3,366,976.

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