The Cowal gold operation is a world-class, open pit gold operation located 350km west of Sydney. It is situated within the Bland, Lachlan and Forbes Shires on the traditional lands of the Wiradjuri People. Mining approval has been granted until at least 2032 and this long mine life provides a runway to capture additional upside.
The site successfully hosted the Evolution and NSW Mine Rescue Challenges in West Wyalong which not only tested our emergency capabilities, but also saw participation from our local community.
Total FY19 gold production of 251,500 ounces was above guidance of 240,000 – 250,000oz. AISC of A$995/oz was at the bottom end of the A$975 – A$1,075/oz guidance range. Full year mine operating cash flow was A$232.1 million. Net mine cashflow was A$87.5 million. FY20 guidance: 255,000 – 265,000oz at an AISC of A$930 – A$980/oz.
The underexplored region offers immense untapped potential. Exploration delivered material resource growth of 1.34 million ounces of gold prior to mining depletion, setting us up for another strong year and helping to ensure our future at Cowal.
In FY19, our challenge was to assess mining and processing options to take this operation to the next level of production excellence aspiring to an annual production level of 300,000oz. Our pathway to 300,000oz is shown below.
Blasting is undertaken on-site daily, generally between the hours of 11.00am and 3.00pm.
Video: Our cornerstone asset
Delivering Pathway to 300,000oz per annum