Cracow (100% Ownership)

The Cracow underground gold operation is located 500km north-west of Brisbane, Queensland, on the traditional lands of the Wulli Wulli People. Our local communities are Cracow and Theodore. The operation has been a consistent and reliable producer since mining began in 2004. The current mine life is out to 2023 however Cracow has a long track record for replacing mining depletion and maintaining a three to five year mine life.

The TRIF increased from 5.2 last year to 14.0. Safety continues to be a major focus for site with a focus on fatigue management. Operationally, Cracow performed well in FY18, exceeding planned ounces and again extending mine life. Total gold production of 90,357oz was above the top end of the 85,000 – 90,000oz guidance range. AISC of A$1,181/oz was in line with guidance of A$1,150 – A$1,200/oz. Full year net mine cash flow was A$36.7 million.

Cracow’s ongoing commitment to innovation was demonstrated by the increase in gold recovery in the order of 2% from the installation of a high-intensity grinding mill (HIGmill) and the development of Production Optimiser technology for underground production drill rigs to reduce stope mining dilution.

In FY19 we will continue to seek improvements and the most significant opportunities include: ore sorting; remote bogging from surface; and electric equipment.