The Woodlark Definitive Feasibility Study (DFS) confirmed the technical and financial merits of the Company’s 100% owned 1.98 Moz Woodlark Gold Project in PNG, which is forecast to generate strong operating margins and significant free cash flow from a long-life operation.
Key Definitive Feasibility Study Metrics
| LOM Financial Metrics | A$M | A$/oz Au | US$/oz Au |
|---|---|---|---|
| Project Revenue (incl. silver credits) | 6,098 | 5,544 | 3,703 |
| Transport and Refining | 11 | 10 | 7 |
| Mining Costs (ex. sustaining capital) | 901 | 817 | 546 |
| Processing Costs (inc. processing G&A) | 670 | 608 | 406 |
| General and Administration | 350 | 317 | 212 |
| Sustaining Capital | 46 | 42 | 28 |
| Corporate Costs | 63 | 57 | 38 |
| Royalties (at 2.5%) | 152 | 138 | 92 |
| Silver credit | -36 | -33 | -22 |
| Project AISC | 2,157 | 1,956 | 1,307 |
| Capital | A$M | US$M |
|---|---|---|
| Pre-production | 506 | 338 |
| Sustaining | 46 | 31 |
| LOM captial | 552 | 369 |
| Project Returns (unleveraged and pre-tax unless stated otherwise) | Unit | A$ | US$ |
|---|---|---|---|
| Free cashflow | $M | 2,524 | 1,686 |
| NPV8% | $M | 1,780 | 1,193 |
| IRR | % | 58.9% | |
| Payback period | Months | 18 | |
| Capital intensity | $/oz | 485 | 324 |
| NPV8% (post-tax) | $M | 1,301 | 869 |
| IRR (post-tax) | % | 50.6% | |
| NPV/Pre-production capital | ratio | 2.4 : 1 | |