Ann: Kal East - Excellent Progress on all Fronts, page-50

OBM is capped at over $3 equivalent for BC8. Its going to be interesting to see how BC8's compare. BC8 is still in ramp-up as well.

Gold production for April and May totalled 12.1koz, taking May YTD gold production to
82.5koz. The forecast for June is to produce up to 12.5koz, with June quarter production
anticipated to be ~24.5koz.
• The reduction in ounces produced has primarily been caused by extended downtime
from the processing plant due to the installation of lifter and lining upgrades to the
primary mill. In addition, the commissioning and ramp up of the mill has taken longer
than expected to achieve targeted daily throughput rates of 3,700-4,000tpd.
• The processing plant works and commissioning are now complete. The processing plant
has demonstrated the required performance of up to 4,000tpd, resulting in the month of
June forecast to produce up to 12.5koz, which is the target monthly rate to achieve
annual production of 150koz.
• Mining performance is delivering well. In June alone, mining from Riverina (8.5koz) and
Sand King (6.0koz) is forecast to deliver ~14.5koz as Riverina continues, and Sand King
ramps up to steady state, as expected. In addition to this, and due to the extended
downtime and lower mill throughput during commissioning, ore stockpiles at the end of
May increased to ~83kt @ 2.8g/t for 7.5koz of medium grade ore and 114kt at 1.2g/t for
4.4koz of low grade.
• Based on the current performance and stockpile levels, FY25 total production is expected
to be ~95koz, which is 5% below the lower end of guidance of 100koz. AISC is expected to
be ~2,600/oz, which is 4% above the top end of previous guidance of $2,500/oz.
• The expected FY25 production of ~95koz is an overall increase of 35% from FY24
production of 70koz.