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AUSTRALIAN GOLD REVIEW

Strategy shift has Westgold

set for years to come

by Dominic Piper

Westgold has been increasing mining rates this year to build
up stockpiles at all three production centres
(Pictured: Tiannah Stewart and Daniel Olden)

$100 million capital raising has handed Westgold Resources a fantastic job to pull it all together but the business took a long time
A Ltd the opportunity to break the nexus between growth and to find its rhythm, buying and selling assets and always trying to
capital and plough ahead with its full expansion plans, according to get them up-and-running. Now the big mines are heading towards
executive director Wayne Bramwell. steady-state, we can begin planning. Previously, plans were only one
Westgold raised the cash in March to fund a series of expansion and or two years out, but this allows us to look much further ahead and
exploration projects across its West Australian portfolio, including start working on the assets for 2025-2026, rather than on the run.”
$70 million for its Murchison assets where it will double output from One of those longer term plans involves the Great Fingall decline
the Bluebird mine, initiate a new underground mine at Fender and which, once developed, will open access to the highest grade assets
accelerate development of the Great Fingall decline to drill depth in the Murchison portfolio. Both Great Fingall and Golden Crown
extensions of the high-grade Great Fingall and Golden Crown were prolific plus-10 g/t gold producers in their heyday and with a
orebodies. A further $10 million will be spent on its Bryah assets combined resource of 1.9mt @ 8.5 g/t for 500,000oz, they represent
and $10 million committed to regional exploration and acquisition a clear high-margin option.
opportunities. A decline was established after open pit mining finished in 2020
Bramwell told GMJ the cash injection would allow Westgold to with Westgold now planning to increase the rate of underground
deliver on its ambitious growth plans of hitting 400,000 ozpa group development to drill test depth extensions. The company believes
production quickly. the two orebodies have potential to deliver 25-35,000 tpm at head
“We are now ready to go on the way to growing the company,” grades of more than 7 g/t.
he said. “Historically, growth was always linked to cash flow, but it In the short term, funding will be applied to expansion of the Bluebird
seemed to me this was a timely opportunity to disconnect growth underground mine. Mining rates are now at steady state with 24,000
from cash flow. Cookie [former managing director Peter Cook] did tpm @ 3 g/t gold being mined from underground with an expansion

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