Name of the Project
Havana underground gold project.

Location
East-north-east of Kalgoorlie, in Western Australia.

Project Owner/s
Tropicana Joint Venture (JV), comprising AngloGold Ashanti (70% and manager) Regis Resources (30%).

Project Description
The project is an extension of current operations at the Tropicana operation.

The project will establish an underground mine beneath the producing Havana openpit. The project’s underground mineralisation extends from about 500 m to about 700 m below the surface and is open at depth.

The deposit comprises four known mineralised zones – Boston Shaker, Tropicana, Havana and Havana South. Access will be through a portal from the Havana openpit and a link drive from the Tropicana decline.

The Havana underground ore will supplement current ore sources and will be processed through the existing 9.4-million-tonne-a-year process plant.

All underground mining activities and associated support services will be undertaken by a contract miner. Havana underground ore extraction will be optimised by longitudinal sublevel stoping with pillars mined on retreat from the extremities of the orebody. This method is used at the Boston Shaker and Tropicana underground mines.

The project will target incremental production of 55 000 oz over its three-year life-of-mine (LoM).

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based on a conservative gold price of $3 000/oz, 
the project delivers an incremental pretax net present value, at a 5.5% discount rate, of $55-million and internal rate of return of 62%.

Capital Expenditure
About A$114-million. Regis’ share (30%) of incremental LoM growth capital is estimated at $34-million.

Planned Start/End Date
The project was approved by the Tropicana JV in September 2024. Gold production from the first stope ore is targeted to start in the third quarter of 2027, continuing over the LoM.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
AngloGold Ashanti, tel +1 303 889 0700.
Regis Resources, tel +61 8 9442 2200 or email enquiries@regisresources.com.