20784 29Metals AR 2022 WEB V1 - Flipbook - Page 17
Golden Grove
Golden Grove is a world class
VHMS system that has yielded
new discoveries and extensions to
copper and zinc orebodies over its
30+ years of continuous operation.
Golden Grove’s multiple copper and zinc
orebodies provide production flexibility and
support reliable, low-cost production. The
operation is on grid power with a fly-in fly-out
(‘FIFO’) workforce with underground mining
conducted by a mining contractor.
2022 Highlights
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Safely achieved guided production despite
the impact of absenteeism in addition to tight
labour markets and supply chain challenges
21% increase in zinc production relative to
the prior period
First production from the high-grade
Xantho Extended ore body
Gossan Valley feasibility studies delivered,
confirming its potential as a third mining
front at Golden Grove
Cervantes pre-feasibility study delivered,
confirming its potential to extend the
Scuddles underground mine
Paste fill plant, and associated
underground reticulation systems,
installed and commissioned
Ventilation upgrades advanced to support
higher activity levels at depth
Extension of the underground fibre optic
network to support remote mining and
data capture applications
2023 Priorities
Operations
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Development rates – sustain improved
development rates shown in the December
2022 quarter, to support increasing contribution
of ore from Xantho Extended mining area
Ventilation – continue investment in ventilation
infrastructure, increasing and extending
ventilation to support increased mining activity
Progress regulatory approvals for tailings
storage facility lift
Cost management and capital discipline –
focus on productivity improvements and cost
management initiatives to improve margins
Brandon
Golden Grove
Location
Products
WA, Murchison,
450 km NE of
Perth, 250 km E
of Geraldton
Copper
Cu Zn
Zinc
Zn Au
Gold
Au Ag
Silver
Ag Pb
Lead
Cu
Mine Life
Mining Method
Processing Method
10+
years
Underground
Long Hole
Open Stoping
Conventional flow sheet
with crushing, grinding,
gravity, flotation
EBITDA1
Metal Production
111m
$
Cu
Copper
Cu Zn
16.9 kt
(2021: 16.0 kt)
from 2021 ($163m)
Zinc
57.6 kt
(2021: 47.8 kt)
Organic growth
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Gossan Valley – commence regulatory
approvals for development to support a final
investment decision, and evaluate opportunity
to accelerate decline development
LOM Tailings – advance plans for life of
mine tailings storage facility (including
regulatory approvals)
Cervantes – continue resource conversion and
extension drilling seeking to further improve
geological confidence in mineral inventory
TRIFR
11.3/mwhrs
Ore
Reserves2
61.4 Mt @
15.1 Mt @
Cu
11.5
1.7%
2021
1. 2021 EBITDA cited is pro forma. Pro forma and
EBITDA are non-IFRS financial information.
Refer to the Important Information regarding the
use of non-IFRS financial information on page 200.
2. As at 31 December 2022. Refer to page 52
for 29Metals 2022 Mineral Resources and
Ore Reserves estimates.
Mineral
Resources2
2022
Cu Zn
Zn Au
Au Ag
LTIFR
1.6/mwhrs
Ag Pb
Copper
1.7%
Zinc
4.0%
Gold
0.7 g/t
Silver
28 g/t
Lead
0.2%
Cu
Cu Zn
Zn Au
Au Ag
Ag Pb
Copper
1.7%
Zinc
4.9%
Gold
0.7 g/t
Silver
26 g/t
Lead
0.2%
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