20974 29Metals AR23 WEB V1 - Flipbook - Page 15
2023 key
results
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
11
Nyasha, Adrianna & Matthew
Perth Office
Our small support service team in Perth provides
assistance to our Golden Grove mine site.
1.
2.
3.
Refer to: “Impact of Extreme Rainfall on Capricorn Copper Opera琀椀ons” released to the ASX announcements pla琀昀orm on 9 March 2023; “Capricorn Copper Opera琀椀ons Update” released to the ASX
announcements pla琀昀orm on 15 March 2023; and “Strategic Update” released to the ASX announcements pla琀昀orm on 23 May 2023.
Informa琀椀on regarding the Capricorn Copper Recovery Plan was set out in 29Metals’ Investor Presenta琀椀on en琀椀tled “Strategic Update” released to the ASX Announcements pla琀昀orm on 23 May 2023.
Refer to pages 61 to 77 for the Group’s 2023 Mineral Resources and Ore Reserves es琀椀mates, including Competent Persons’ statements.
Ore Reserves cited for Cervantes are part of the Ore Reserve es琀椀mate for Golden Grove (refer page 70).
Deliver organic growth
External growth
Opportunities
Progress in 2023
Productivity
and operational
improvements
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■
In-mine and
near-mine growth
opportunities
■
■
Priorities in 2024
Completed derisking and debo琀琀lenecking projects,
improving ven琀椀la琀椀on and related infrastructure to
support increases in development and mining rates
at Xantho Extended
Re-established and enhanced water management and
diversion infrastructure at Capricorn Copper
Increased mechanical evapora琀椀on capacity and
implementa琀椀on of water recycling at Capricorn Copper
At Golden Grove, successful conversion drilling
program at Cervantes suppor琀椀ng an Ore
Reserves es琀椀mate3 of 2.9Mt @ 1.5% Cu,
4.8% Zn, 0.6 g/t Au, 33 g/t Ag and 0.4% Pb
At Capricorn Copper, drilling extended known
mineralisa琀椀on at Esperanza South and iden琀椀昀椀ed
a new mineralised zone east of Mammoth
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■
■
■
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Exploration
■
■
Maintained Group Mineral Resources es琀椀mates3
(+0.3%) a昀琀er produc琀椀on deple琀椀on
Increased Group Ore Reserves es琀椀mates3
(+15.1%) a昀琀er produc琀椀on deple琀椀on
Commitment to
Sustainability
& ESG
integral to Our Approach (refer to
page 25 of this Annual Report)
Transition to a
green economy
underpins attractive
supply-demand
outlook for copper and other
future-facing metals in our por琀昀olio
■
Opportunities
Produc琀椀vity improvements at Golden
Grove – con琀椀nue development rate
improvements and increase contribu琀椀on
of ore-feed from Xantho Extended
Progress approvals for long term tailings
storage solu琀椀ons at both opera琀椀ng
sites (Golden Grove – TSF 4, Capricorn
Copper – TSF 3)
Logical
regional bolt on
opportunities
Opportunistic
M&A where we
see value and
returns
Progress regulatory approvals for
future Gossan Valley development
Resource conversion drilling at Amity,
Hougoumont, Xantho Extended, and
Oizon (Golden Grove)
Resource conversion and
extension drilling at Mammoth
Explora琀椀on drilling to target the area
east of Mammoth
Strategic explora琀椀on approach focusing
on resource conversion within the
Group’s substan琀椀al 128.3Mt Mineral
Resources es琀椀mates3
$
Strong
balance sheet
low leverage creates pla琀昀orm
for growth objec琀椀ves
Significant
investment
delivering meaningful environmental
and opera琀椀onal improvements
