Operations
Production
Blanket Mine
- 64% owned
- Central Shaft: expansions project successfully delivered
- M&I: 2.18Moz @3.83g/t
- Inferred: 0.75Moz @3.35g/t
- Recent exploration increased M&I resources and is expected to extend LOM
- 2026 production guidance of 72 – 76.5koz Au*
Pre-development
Mailgreen
- 100% owned
- Acquired November 2021
- M&I: 442koz Au at 1.71g/t
- Inferred: 420koz Au at 2.12g/t
Development Project
Bilboes
- 100% owned
- Acquired January 2023 for $65.7m in shares plus 1% NSR
- Proven and probable: 1.749 Moz Au at 2.26g/t
- Feasibility Study: LoM Production of 1.55 Moz Au over 10.8 years
- After NPV8% of US$582M and IRR of 32.5% (at $2,548/oz gold price – consensus gold price as per the Feasibility Study)
- After-tax NPV89% of US$1,539M and IRR of 57.9% (at $4,156/oz gold price)**
- Discussions with domestic, international lenders and financiers are well advanced
Early-Stage Exploration
Motapa
- 100% owned
- Acquired November 2022
- A large-scale exploration project
- Strategically located adjacent to Bilboes
- Encouraging results from the 2025 exploration programme
- Maiden mineral resource estimate for Motapa North announced Aug 26
