Mungari (100% Ownership)

The Mungari gold operation is located 600km east of Perth and 20km west of Kalgoorlie in Western Australia. There are currently two registered native title claims over the majority of the Mungari tenements – the Maduwongga People and the Marlinyu Ghoorlie People. Our local communities are Kalgoorlie and Coolgardie.

The operation is a key asset in our portfolio and consists of underground mining at Frog’s Leg, open pit mining at White Foil and Cutters Ridge with a considerable regional tenement package to the north around Castle Hill hosting a total Mineral Resource of 51 million tonnes grading 1.47g/t gold for 2.4 million ounces.

Mungari underwent a transformation during FY20 with a complete change in operational strategy. Mungari completed access development to the newly discovered Boomer ore body, improved plant throughput to deliver a 16% improvement above FY20 budget to a sustainable 2Mtpa throughput rate and commenced development of the Cutters Ridge open pit.

Total FY20 gold production of 133,388 ounces was above guidance of 115,000 – 125,000oz. AISC of A$1,215/oz was below the A$1,230 – A$1,280/oz guidance range. Full year net mine cash flow was a record A$112.7 million.

The operation has a major footprint in the extremely prosperous gold camp of Kalgoorlie. With a current mine life of 10 years we are analysing a range of margin generating options to the north around the Castle Hill area to deliver long-term value by effectively unlocking the large resource base.

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