Name of the Project
Lady Julie gold project (LJGP).

Location
Near Laverton, in Western Australia.

Project Owner/s
Emerging gold producer Magnetic Resources.
 
Project Description
LJGP is one of the highest margin undeveloped gold projects in Australia.

A feasibility study, published in July 2025, shows a highly economic and attractive standalone nine-year life-of-mine project, with low-cost gold production of 1.02-million ounces averaging 140 000 oz/y once in full production.

The feasibility study focuses on mining the indicated resources of the Lady Julie North 4 (LJN4), Lady Julie Central (LJC) and Hawks Nest 9 (HN9) deposits for the most part. LJN4 is the largest contributor to the study, producing more than 17.8-million tonnes of ore during its operation.

The project includes a dedicated 2.75-million-tonne-a-year gold processing plant with all associated services and facilities. 

The project will require the development of a 20 MW (gas/solar) powerstation and borefields for process water.

Potential Job Creation
The project is expected to have 300 personnel.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of A$970-million and an internal rate of return of 45% assuming a gold price of A$4,000/oz. The project has an estimated payback period of 30 months from the start of production. 

Capital Expenditure
Initial capital costs are estimated at A$375.3-million, including A$15-million in contingency and A$47-million in working capital.

Planned Start/End Date
Project construction is expected to take about two years.

Latest Developments
Magnetic Resources has received approval for all mining leases covering its LJGP, marking a key step as the company advances the project towards production.

The newly granted mining leases – M38/1315, M38/1317 and M38/1318 – cover the LJN4, LJC and HN9 deposits. In addition, Miscellaneous Licence L38/0395, required for a water pipeline and power line, has also been approved.

The company recently announced a resource upgrade for the LJGP, with the deposits now containing 35.6-million tonnes at 1.86 g/t gold for 2.14-million ounces. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Magnetic Resources, tel +61 8 9226 1777.