Name of the Project
Warrawoona gold project.

Location
Pilbara, in Western Australia.

Project Owner/s
Calidus Resources.

Project Description
The Warrawoona project is a high-margin gold operation, with average gold production estimated at 90 000 oz/y over an initial eight-year mine life.

The project has a global resource of 43.7-million tonnes grading 1.06 g/t gold for 1.5-million ounces.

The project includes a two-million-tonne-a-year conventional carbon-in-leach processing circuit with a single-stage crushing and semiautogenous grinding mill.

Calidus’ acquisition of the high-grade Blue Spec mine provides immediate opportunity to expand production and free cash flow at the Warrawoona gold project. The definitive feasibility study and integration plan are being undertaken in parallel with the construction of Warrawoona.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$408-million and an internal rate of return of 81%, with a payback of 13 months.

Capital Expenditure
The project has a capital cost of $120-million, including contingency and preproduction mining costs.

Planned Start/End Date
The project is expected to pour first gold in the first half of 2022.

Latest Developments
Calidus Resources has started continuous ore processing at its Warrawoona gold project.

The processing of low-grade ore is underway and it will transition to run-of-mine ore over the coming week as operations progress to steady state.

With the start of processing, gold in circuit has started to build, with the first gold pour expected within two weeks. Production is scheduled to ramp up to 90 000 oz/y in Stage 1.

Key Contracts, Suppliers and Consultants
Optiro Consultants, Lynn Widenbar and Associates (mineral resource estimate); Rapallo, Biologic, Woodman, Sticks and Stones, Total Heritage, Nyamal Heritage, Bat Call, Graeme Campbell and Associates, Mine Earth, Lloyd George Acoustics (environmental base line studies and project permitting); Peter O’Bryan and Associates, ATC Williams (geotechnical); ATC Williams (tailings storage facility); Groundwater Resource Management, or GRES (hydrology and hydrogeology); GR Engineering Services (processing plant); GRES, Metallurgy Management Services, Nagrom, ALS, BV (metallurgy and testwork); GRES, Aerodrome Management Services (infrastructure); Intermine Engineering Consultants, Entech and Galt Mining (mining); Macmahon Holdings (openpit mining and tailings dam); GRES (process plant engineering, procurement and construction contract); Rangecon (village install); and Telstra (communication).

Contact Details for Project Information
Calidus Resources, email info@calidus.com.au.