Our Assets
Mineral Resources and Ore Reserves
Mineral Resources
As at 30 June 2024, Mineral Resources*, inclusive of Ore Reserves, were estimated to contain 3.88 million ounces of gold and 112.4 million ounces of silver. This represents a decrease from 30 June 2023 of 0.8% gold and 0.4% silver due to mining depletion at Chatree.
Mineral Resources9 (inclusive of Ore Reserves)
| Total Resources | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Measured Resources | Indicated Resources | Inferred Resources | June 2024 | June 2023 | |||||||||||||||
| Tonnes | Grade | Tonnes | Grade | Tonnes | Grade | Tonnes | Grade | Contained Metal | Tonnes | Grade | Contained Metal | ||||||||
| Au | Ag | Au | Ag | Au | Ag | Au | Ag | Au | Ag | Au | Ag | Au | Ag | ||||||
| Deposit | Mt | g/t | g/t | Mt | g/t | g/t | Mt | g/t | g/t | Mt | g/t | g/t | Moz | Moz | Mt | g/t | g/t | Moz | Moz |
| CHATREE3 4 5 | |||||||||||||||||||
| Open Pit | 66.7 | 0.72 | 6.3 | 49.4 | 0.64 | 5.5 | 40.6 | 0.59 | 4.5 | 156.7 | 0.66 | 5.6 | 3.34 | 28.1 | 163.6 | 0.65 | 5.6 | 3.42 | 29.4 |
| Stockpiles | 3.7 | 0.44 | 7.6 | – | – | – | – | – | – | 3.7 | 0.44 | 7.6 | 0.05 | 0.9 | |||||
| NUEVA ESPERANZA6 7 8 | |||||||||||||||||||
| Open Pit | 1.6 | 0.01 | 93 | 27.2 | 0.46 | 73 | 10.6 | 0.3 | 43 | 39.4 | 0.39 | 66 | 0.49 | 83.4 | 39.4 | 0.39 | 66 | 0.49 | 83.4 |
| Total Mineral Resources | 199.8 | 0.60 | 17.5 | 3.88 | 112.4 | 203.0 | 0.60 | 17.3 | 3.91 | 112.8 | |||||||||
* Mineral Resources are reported on a 100% basis. Refer to the Mineral Resources table for detailed tonnage, grade and metal content categorised by confidence classification.
Ore Reserves
As at 30 June 2024, Ore Reserves** were estimated to contain 1.55 million ounces of gold and 59.4 million ounces of silver. This represents a decrease from 30 June 2023 of 1.9% gold and 0.5% silver due to mining depletion at Chatree.
Ore Reserves12
| Total Resources | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Proved Reserves | Probable Reserves | June 2024 | June 2023 | |||||||||||||
| Tonnes | Grade | Tonnes | Grade | Tonnes | Grade | Contained Metal | Tonnes | Grade | Contained Metal | |||||||
| Au | Ag | Au | Ag | Au | Ag | Au | Ag | Au | Ag | Au | Ag | |||||
| Deposit | Mt | g/t | g/t | Mt | g/t | g/t | Mt | g/t | g/t | Moz | Moz | Mt | g/t | g/t | Moz | Moz |
| CHATREE10 11 12 | ||||||||||||||||
| Open Pit | 30.9 | 0.85 | 7.6 | 14.5 | 0.78 | 6.7 | 45.3 | 0.82 | 7.3 | 1.20 | 10.7 | 51 | 0.77 | 7.3 | 1.28 | 11.9 |
| Stockpiles | – | – | – | 3.7 | 0.44 | 7.6 | 3.7 | 0.44 | 7.6 | 0.05 | 0.91 | |||||
| NUEVA ESPERANZA13 14 15 | ||||||||||||||||
| Open Pit | – | – | – | 17 | 0.5 | 87 | 17 | 0.5 | 87 | 0.3 | 47.8 | 17 | 0.5 | 87 | 0.3 | 47.8 |
| Total Ore Reserves | 66 | 0.72 | 28 | 1.55 | 59.4 | 68 | 0.71 | 27 | 1.58 | 59.7 | ||||||
** Ore Reserves are reported on a 100% basis. Refer to the Ore Reserves table for detailed tonnage, grade and metal content categorised by confidence classification.
- 1, 9
- All tabulated tonnes, grade and metal information has been rounded to two significant figures to reflect appropriate precision in the estimates and this may cause some apparent discrepancies in totals.
- 2
- Ore delivered to processing facility.
- 3, 10
- Reported on a wet tonnes basis assuming a moisture content of 3%.
- 4, 11
- Chatree metallurgical recoveries: 83.3% Au and 38.7% Ag based on metallurgical testwork and plant performance.
- 5
- Chatree Mineral Resources are reported at a cut-off of 0.30 g/t Au aligned with projected gold and silver price assumptions used to estimate Ore Reserves.
- 6, 13
- Reported on a dry tonnes basis.
- 7, 14
- Nueva Esperanza metallurgical recoveries: 80% Au and 84% Ag based on metallurgical testwork.
- 8
- Nueva Esperanza Mineral Resource cut-off is 0.5 g/t gold equivalent based on long term historical prices of US$1200/oz for gold and US$19/oz for silver and combined life of mine average metallurgical recoveries of 80% Au and 84% Ag estimated from testwork using the formula AuEq (g/t) = Au (g/t) + Ag (g/t) ÷ 60. It is Kingsgate’s opinion that all elements included in the metal equivalents calculation have reasonable potential to be recovered and sold.
- 12
- Chatree Ore Reserves were estimated using a projected gold price of US$1700/oz and silver price of $US22/oz and are reported at a cut-off grade of 0.35 g/t Au.
- 15
- Nueva Esperanza Ore Reserves are based on a floating cut-off grade method. In this method, each Resource block is subjected to a series of estimates to generate revenue and cost fields that are used to determine a breakeven cut-off grade.
- The information is extracted from the report entitled 2024 Annual Report created on 16 October 2024 and is available to view on this website. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
