Name of the Project
Wiluna Stage 1 sulphide project.

Location
The Yilgarn Crayton, in the Northern goldfields of Western Australia.

Project Owner/s
ASX-listed Wiluna Mining.

Project Description
The project involves the staged development of the sulphide operation from its current production of an estimated 62 000 oz/y from mining free milling ore through the current 2.1-million-tonne-a-year carbon-in-leach (CIL) processing facility, to initially produce between 100 000 oz/y and 120 000 oz/y of gold and gold in concentrate.

This transition will be realised using the current, recently refurbished crushing circuit, as well as the previously expanded mill circuit and a new 750 000 t/y concentrator.

Wiluna is further planning to increase production by at least doubling the mining rate, and increasing production by the concentrator to an estimated 250 000 oz/y of gold by the end of 2023 or early 2024.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
The estimated cost of the project is A$81-million.

Planned Start/End Date
Wiluna Mining Corporation is targeting a full ramp-up of production of 120 000 oz/y at its Wiluna operation by the end of 2022.

Latest Developments
Wiluna Mining will raise A$53-million in a share placement, at A$1 a share.

The placement will be done in two tranches, with the first 34.8-million shares to be placed under the company’s existing placement capacity, while the placement of the remaining 18.2-million shares will be subject to shareholder approval at a meeting scheduled for the end of December.

The group’s major shareholder, Delphi Group, has agreed to subscribe to 17.84-million shares in Wiluna to maintain its 34.6% interest in the company, while the company’s second-biggest shareholder, Franklin Templeton, has also shown support for the placement.

Delphi’s share subscription would be subject to shareholder approval.

Proceeds from the capital raise will be used to fund precommercial production mining and development activities at the Wiluna gold operation and precommercial production processing and surface operations, as well as to fund processing infrastructure, exploration drilling and general working capital.

“Having announced our updated resources and with commissioning of the new concentrator . . . imminent, we continue progress towards achieving commercial production from our Stage 1 development by the end of this financial year. We are also on track to complete the feasibility study for Stage 2 development in the third quarter of this financial year, Wiluna Mining executive chairperson Milan Jerkovic has said.

The Stage 1 project is on track to be commissioned in December and is targeting a full production run rate of 120 000 oz/y by the end of the 2022 financial year. The final size and shape of the Stage 2 development at the Wiluna mining operation will depend on the outcomes of the feasibility study.

Key Contracts, Suppliers and Consultants
GRES (engineering, procurement and construction contractor for the Stage 1 works); and Byrnecut Australia (underground development and production mining services).

Contact Details for Project Information
Wiluna Mining, tel +61 8 9322 6418 or email info@wilunamining.com.au.