Ernest Henry (100% Ownership)

Ernest Henry – Consistent and reliable delivery driving cash generation

Our Ernest Henry Operations is a large-scale, long-life, copper-gold asset located 38km north-east of Cloncurry, Queensland, on the traditional lands of the Mitakoodi people. The operations commenced as an open pit mine in 1998 and transitioned to underground mining in 2011. The operation employs a low-cost and highly efficient sub-level caving ore extraction method.

Ernest Henry remains a consistent and reliable operation and continues to deliver outstanding cash generation. The operation achieved full-year production in FY24 of 78,763 ounces of gold and 52,057 tonnes of copper, at a negative AISC of $2,124 per ounce. FY25 production is planned to be approximately 75,000 to 80,000 ounces of gold and 47,000 to 53,000 tonnes of copper, at an AISC of negative $2,300 to $2,500.

The Feasibility Study for the Mine Extension Project is on track for completion in FY25. Material additions to the Mineral Resource are expected to be included in the Feasibility Study.

Favourable drilling results continue to underpin the business case for extension, with exploration drilling from underground at Ernest Henry returning exceptional results from extensional drilling to the Bert orebody. The results include the highest-grade gold intercept ever drilled at Ernest Henry, 51.7m (43.0m estimated true width) grading 4.12g/t gold and 1.65% copper, showing the potential of Bert as an alternate mining front at the operation. Details on the Pre-Feasibility Study are provided here.

Ernest Henry also achieved a major milestone of repaying all acquisition and subsequent capital during the second half of FY24.

ERNEST HENRY 3D INTERACTIVE

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