Ann: Higginsville Expansion Plan, page-2

Hmm... I will keep this short. This plan, is nothing new and I struggle to find any real discussion around the reality of what WGX now has in its 'new' Karara assts'.


Higginsville is not even operating at 1.6mtpa, so.... they admit they just need to get that fixed first. Then... in 6-8 months they will be able to decide if the 2.6mtpa is actually a goer with FID. Then... 12-18 months to undertake the upgrade?

Suffice to say, what I really want to know is, what is WGX actually going to be producing from Higginsville over the next 2 years. Right now...
If Beta is producing at 1.5mpta... at 2.5g/t, at 92% recov, I get around 110k, with perhaps another 10-20k from the U/G Boy and open pits.
Then you have the Murchison, which... is all over the shop with Big Bell expansion now on hold and Bluebird U/G behind schedule.
I should really have a good laugh at myself, for being so optimistic about WGX being able to hit all its planned mine outputs in FY25, let alone FY26.
At a thumb suck, WGX is now a high cost 330k p.a producer, with a really mixed portfolio. Basically, a play on a higher POG, for the big end of town.

Considering WGX gave away over 50% of the company for the Karora assets, so far, it has been a very poor decision. With production now looking to be be weighted heavily towards the Murchison, versus the original plan of basically being 50/50.

Even with the upcoming toll deal with NMG, WGX is very reliant on a higher POG to balance the budget.
hmmmm.