Investor Presentaiton
Robust Definitive Feasibility Study at Qala Shallows²
Qala Shallows DFS covers 60% of Scoping Study
Substantial Maiden
Ore Reserve
Significant
Life-of-Mine
$
All In Sustaining Cost
("AISC")
$
Peak Funding
requirement
Declared ore reserve of 3MT at 2.88g/t for
278 000oz, including Proven Ore Reserve
of 830,000t at 3.13g/t for 84,000oz
17-year LOM and 7.3MT at 2.81g/t
recovered grade for 663,000oz Recovered
Gold
Estimated US$1,144/oz Gold with a
steady-state AISC of US$1,027/oz
US$50million and 5.5 year pay back period
70
60
Stage 1 Key Milestones
First Ore - Q1 2022
20 000 t per month - Q4 2023
50 000 t per month - H2 2024
Plot Area
°
°
Solid Production
Project Financials
Development
Commencement
Peak Steady-State Production at 53 000oz
per annum for 10 years
Pre-tax NPV7.5 of US$150 million
(AU$205m) and IRR of 35% at a Gold Price
of US$1,750/oz
September 2021; Early Mining Initiative
first production in Feb 2022
WEST WITS
MINING
10
Total Toonnes per month [kt]
50
40
30
20
10
-
9 months
Construction
24
Project Month
Waste
Ore Development
Stoping
09
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