{"id":13381,"date":"2024-12-20T02:52:50","date_gmt":"2024-12-20T02:52:50","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/12\/20\/westgold-shares-scoping-study-for-expansion-of-fortnum-gold-operation\/"},"modified":"2024-12-20T02:52:50","modified_gmt":"2024-12-20T02:52:50","slug":"westgold-shares-scoping-study-for-expansion-of-fortnum-gold-operation","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/12\/20\/westgold-shares-scoping-study-for-expansion-of-fortnum-gold-operation\/","title":{"rendered":"Westgold Shares Scoping Study for Expansion of Fortnum Gold Operation"},"content":{"rendered":"<\/p>\n<p><strong>Westgold Resources (ASX:WGX,TSX:WGX,OTCQX:WGXRF) has completed a scoping study that evaluates an expansion of its<\/strong><strong> Fortnum gold operation in Western Australia, the company said on Tuesday (December 17).<\/strong><\/p>\n<p>The study forms part of the company\u2019s portfolio review, and shows a potential 10 year, fully integrated mine plan. <\/p>\n<p>It outlines life-of-mine production of 713,000 to 871,000 ounces of gold, and covers Fortnum\u2019s Starlight, Nathan\u2019s and Yarlarweelor open pits, as well as the existing Starlight underground operation. <\/p>\n<p>Also included in the study is a 91 percent increase in Starlight\u2019s resource estimate. It now stands at 12.9 million tonnes at 2.7 grams per tonne gold for a total of 1.13 million ounces of gold.<\/p>\n<p>\u201cFortnum is a mature, yet under drilled asset and is one of Westgold\u2019s most profitable and productive operations,\u2019 said Managing Director and CEO Wayne Bramwell, adding that Starlight has so far produced 800,000 ounces of gold. <\/p>\n<p>\u201cThe scoping study contemplates a modest upfront capital investment to deliver a long life, fully integrated open pit and underground project of increased scale, supported by an expansion of our existing (900,000) processing plant to 1.5 million tonnes per annum,\u201d he added in Tuesday\u2019s press release.<\/p>\n<p>Westgold said funding amounting to approximately $294 million will be needed over the expansion\u2019s life. On a respective basis, open-pit pre-production capital, processing plant capital, life-of-mine underground capital development and working and exploration capital will require $39 million, $93 million, $113 million and $48 million.<\/p>\n<p>Shares of the company rose as high as AU$3.25 in the wake of the news. <\/p>\n<p><strong>Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Westgold Resources (ASX:WGX,TSX:WGX,OTCQX:WGXRF) has completed a scoping study that evaluates an expansion of its Fortnum gold operation in Western Australia, the company said on Tuesday (December 17). The study forms part of the company\u2019s portfolio review, and shows a potential 10 year, fully integrated mine plan. It outlines life-of-mine production of 713,000 to 871,000 ounces [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":13382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=13381"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/13382"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=13381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=13381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=13381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}