Simberi Ore Reserves increased by 0.8 Moz to 2.8 Moz (40% increase) after successful conversion of 1.9 Moz of Mineral Resources from Inferred to Measured and Indicated (Total Simberi Mineral Resources up 5% to 5.0Moz).
Simberi Expansion Concept Study completed with 10 Year plus Mine Plan, 1: Average annual gold production from FY28 through to FY34 rising to over 200,000 ounces per annum at All-in Sustaining Cost (AISC) in the range of US$1,000 to US$1,200/oz, 2: Metallurgical testwork to confirm flow sheet alternatives rapidly advancing towards final flow sheet selection.
Simberi operating strategy continues to be achievement of prolonged oxide life at close to or better than break-even operating cashflow as a superior outcome to costly temporary closure with care and maintenance Q4 gold production at Simberi of 14,100 ounces of gold.
An AISC of A$3,590 per ounce FY24 production from Simberi of 54,705 ounces of gold (middle of revised guidance of 52,000 to 56,000 ounces) at AISC of A$3,694/oz (bottom end of revised guidance of A$3,700 to A$3,900/oz) inclusive of A$8 million of sustaining capital (below guidance of A$13 to A$15 million) FY24 growth capital investment at Simberi of A$14 million (above guidance of A$10 to A$13 million).
Gold production guidance at Simberi of between 65,000 and 75,000 ounces at an AISC of between A$3,200 and A$3,600 per ounce, inclusive of sustaining capital of between A$10 and A$15 million. Growth capital investment at Simberi of A$30 to A$40 million in line with 10 Year Plus Mine Plan Group exploration expenditure of between A$10 and A$13 million, including A$8 to A$10 million at Simberi.
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