Quarterly Report: June 2017

KEY POINTS INCLUDE:
Corporate
$19.7m in cash and bullion at the end of the quarter
Gold sold 15,813oz @ A$1,626/oz (Mar’17 Qtr 14,772oz @ A$1,625oz)
Matilda/Wiluna Gold Operation
Quarterly gold production totalled 15,720oz (Mar’17 Qtr 14,920oz)
All In sustaining costs reducing quarter by quarter with lower stripping ratios and increasing production
2017 FY production 39,413oz (Guidance 40,000-42,000oz) over 8.5 months
Higher investment in waste stripping this half has allowed access to expected higher grade ore in the Sep’17 Qtr
Production is expected to ramp up during the Sep’17 Qtr on higher mill head grade and mill throughput
Expansion Studies
Expansion targeting mill throughput of up to 3.2Mtpa due to the continued success in the Wiluna open pit resources
Positive Initial Expansion Study published on 8 May 2017
Expansion Preliminary Feasibility Study due in Aug’17
Resource and Reserve Drilling
Completed 13,321m of infill and extension drilling programme at the Wiluna open pits
Positive drill results around Wiluna suggests potential for much larger open pits with significant additional mineralisation confirmed both within and to the north of the existing pit designs
Resources
Wiluna open pit resources are being updated for ~ 50,000m of drilling completed over the last 6 months

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