Calidus Resources : Quarterly Activities Report and Quarterly Cashflow Report
CAI.AX
onlyABOUT CALIDUS RESOURCES Calidus Resources is an ASX listed gold compa y that is developing the 1.7Moz Warrawoona Gold Project in the East Pilbara district of Western Australia.
DIRECTORS AND MANAGEMENT
useMr Mark Connelly
NON-EXECUTIVE CHAIRMAN
Mr David Reeves
MANAGING DIRECTOR
Mr John Ciganek
NON-EXECUTIVE DIRECTOR
Mr Keith Coughlan
NON-EXECUTIVE DIRECTOR
personalMr Paul Brennan
PROJECT DEVELOPMENT
Mr Rich rd Hill
CHIEF FINANCIAL OFFICER
Ms Julia Beckett
COMPANY SECRETARY
calidus.com.au
ForASX : CAI
Suite 12, 11 Ventnor Ave
West Perth WA 6005
AUSTRALIA
27 January 2022
December 2021 Quarterly Activities Report
Gold production on track for
June Quarter of 2022
HIGHLIGHTS
Figure 1: ROM Pad ore stocks increasing as the process plant approaches completion
CORPORATE
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Calidus had $20.6 million of cash, $27.5 million in available debt facilities and $250,000k in listed investments at
31 December 2021
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$82.5 million drawdown from Project Loan Facilities to date
Calidus Resources (ASX:CAI) is pleased to report further strong progress in the construction of its Warrawoona Gold Pr ject in WA during the December 2021 Quarter. Construction at Warrawoona is advancing in line with budget and schedule, ensuring Calidus is on track to be Australia's next gold producer.
At quarter-end, the project construction was estimated to be 81% complete with no lost time injuries recorded to date. useDuring the quarter, $21.7 million was incurred on the Warrawoona development with expenditure of $24.6 million
r maining to first gold production.
Warrawoona is forecast to produce up to 105,000oz a year. However, this has the potential to increase to 139,000 when the nearby Blue Spec deposit is developed. Blue Spec has a JORC Resource of 415,000t at 16.3gpt for 219,000oz and is now the subject of a Definitive Feasibility Study (DFS) which is due in the June quarter of 2022.1
Project highlights for the quarter included:
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GR Engineering is constructing the 2.4 million tonne per annum (Mtpa) gold processing plant and associated infrastructure via a fixed price turnkey Engineer Procure and Construction (EPC) contract. EPC construction is 88% complete with significant progress made during the quarter including:
Zenith Pacific have been mobilised to site to construct the 8MW gas fire Power station and civil works have been completed
The initial 400,000L Fuel Farm facility has been installed and commissioned
March/April 2022
1 Refer to ASX announcements dated 29 September 2020, 23 March 2021 and 9 September 2021. The Company confirms that it is not aware of any information or data that materially affects the information included in the market announcements, and that all material assumptions and technical parameters underpinning the estimates continue to apply.
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o 120t digger has arrived on site to replace 85t digger and ramp up production
o Macmahons (ASX:MAH) mobilisation has commenced for main mining contract, civil works now
complete
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Recruitment of key positions are well advanced with recruitment for all positions for operations commenced
Project highlights post quarter included:
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Zenith Pacific to construct a renewables microgrid comprising a 4MW Solar Farm with 3MW battery storage system
at Warrawoona Gold Project under a Power Purchase Agreement (PPA)
useAt 31 December 2021, the Company's hedge book consists of 145,000 ounces at an average forward price of A$2,368/oz for delivery from 30 September 2022 to 30 September 2025
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Figure 3: Crusher Area
Figure 4: Tailings Dam Completion
calidus.com.au
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Figure 5: Mining Area
BLUE SPEC ASSAY RESULTS CONFIRM RESULTS OF UP TO 101 G/T HIGH GRADE NATURE
During the quarter Calidus was pleased to report assay results from the recently completed DFS drilling program at the Blue Spec Project in WA's Pilbara.2
Calidus aims to start development of Blue Spec once steady-state production is achieved at Warrawoona. Blue Spec is anticipated to increase annual production at Warrawoona to 130,000oz per annum when in full production.
Highlights included:
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Multiple occurrences of visible gold identified
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Assay results to form part of Mineral Resource update for DFS
• Geotechnical, metallurgy test work and mining studies underway
• Environmental base line studies underway Results included:
The results from the four diamond holes will be used to update the Mineral Resource Estimate (MRE) for Blue Spec.
2 Refer to ASX announcement dated 8 November 2021 entitled "Results of up to 101 g/t AU at Blue Spec". The Company confirms that it is not aware of any information or data that materially affects the information included in the market announcements, and that all material assumptions and technical parameters underpinning the estimates continue to apply
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Disclaimer
Calidus Resources Limited published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 21:19:26 UTC.