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Quarterly Activities Report to 31 December 2022

Tomingley Gold Operations (Tomingley)

  • Gold production of 18,301oz exceeded forecast for the quarter, with site operating cash costs at A$1,103/oz and AISC of A$1,323/oz.
  • Gold sales for the quarter of 17,855oz for revenue of A$46.7M at an average price of A$2,618/oz.
  • FY2023 guidance for Tomingley has increased to 62,000oz to 70,000oz production at an AISC of $A1,550/oz to $1,800/oz (as per ASX Announcement 5 January 2023).

Tomingley Gold Extension Project (TGEP)

  • The Tomingley Gold Extension Project approval from the NSW Department of Planning and Environment, which was expected by the end of December, is now expected in February.

Exploration

  • The drill program at Boda continued over the 3km strike length from Boda Three to Kaiser (see ASX Announcements 25 October 2022 and 9 December 2022) with the final holes to be incorporated in the initial mineral resource estimate (MRE) at Kaiser. The MRE is expected in the March quarter 2023.
  • At Kaiser, significant results included:
KAI073320m grading 0.26g/t Au, 0.21% Cu from 505m
incl12m grading 1.10g/t Au, 0.83% Cu from 509m
KAI08615m grading 0.32g/t Au, 0.48% Cu from 409m
also126m grading 0.26g/t Au, 0.21% Cu from 515m
incl20.3m grading 0.59g/t Au, 0.46% Cu from 521.1m
KAI087157m grading 0.36g/t Au, 0.17% Cu from 952m
KAI090122.4m grading 0.42g/t Au, 0.40% Cu from 576.6m
incl28m grading 0.92g/t Au, 0.84% Cu from 646m
  • At Korridor, to the immediate north west of Boda, significant results included:
BOD0911,041m grading 0.32g/t Au, 0.17% Cu from 698m
incl326m grading 0.43g/t Au, 0.23% Cu from 1,165m
and55m grading 0.46g/t Au, 0.25% Cu from 1,516m
  • Gold intercepts were also recorded outside the resource at the Macleans prospect located to the north of Roswell and adjacent to the exploration drive (see ASX Announcement 17 November 2022). Significant results included:
MCP09541 metres grading 1.13g/t Au from 199 metres
incl9 metres grading 3.01g/t Au from 217 metres
also16 metres grading 0.49g/t Au from 342 metres
MCP096D0.9 metres grading 12.6g/t Au from 475.1 metres
also17 metres grading 1.10g/t Au from 537 metres;
incl2 metres grading 5.25g/t Au from 539 metres
also27 metres grading 1.08g/t Au from 573 metres
incl9 metres grading 2.33g/t Au from 585 metres

Corporate

  • Cash, bullion and listed investments position totalled A$119.6M.
  • Shareholding in ASX listed gold producer Calidus Resources Ltd (ASX:CAI) represents ~9.8% ownership of issued capital in Calidus at end of December quarter.