Quarterly Activities Report and Appendix 5B
Matilda-Wiluna Gold Operation
- FY19 production of 65,406oz @ an All In Sustaining Cost ("AISC") of A$1,760/oz versus guidance of 66-68koz @ an AISC of ~A$1,700/oz
- Jun'19 quarterly gold production of 12,045oz @ an AISC of A$2,376/oz (Mar'19 Qtr: 15,296oz @ A$1,757/oz). Gold production was down compared to prior quarters due to the toll treatment of Northern Star Resources Limited ("NST") ore, and against prior guidance due to lower mined and milled grade. Lower grade and higher strip ratio caused a higher AISC/oz.
- The Operation was significantly mine constrained over the 6 months to 30 June, which is expected to reverse during the Sep'19 quarter, with pre-stripping activities at key mining locations being largely completed during the Jun'19 quarter. Strip ratios are expected to reduce, and more consistent higher grade ore can be mined for processing.
- The Jun'19 quarter's investments to deliver higher gold production for the next 6 months included:
o Matilda M1 North cut-back - now complete with the main ore zone available for mining in the Sep'19 quarter
o High waste stripping in the Jun'19 quarter at Wiluna open pits (including Happy Jack North and Essex) will improve the availability of ore, with lower waste stripping levels during the Sep'19 quarter
o Underground development at Golden Age allowed commencement of stoping of ore at Golden Age Lower from June 2019
- The Jun'19 quarter represented the strongest quarter of mining in FY19 on a total material movement basis (Jun'19: 2.4M BCM, Mar'19: 2.1M BCM)
- Blackham has continued to work with MACA Limited ("MACA") to optimise the Williamson open pit mine. Mining at Williamson is expected to commence in Sep'19 and contribute a strong baseload of free-milling ore for Blackham.
- Production guidance for FY20 is currently being finalised and will be announced as soon as available
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About Wiluna Mining Corporation Ltd
Wiluna Mining Corporation (ASX:WMX) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 6.4 Moz at a grade of 2.1 g/t Au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
Wiluna Mining Corporation Ltd