Name of the Project
Mandilla gold project.

Location
Near Kalgoorlie, in the Goldfields region of Western Australia.

Project Owner/s
Perth-based explorer Astral Resources.
 
Project Description
Mandilla is one of the biggest undeveloped free-milling openpit gold development projects in the Kalgoorlie region. The project includes the Theia, Iris, Eos and Hestia deposits.

The June 2025 prefeasibility study outlines a production target of 1.41-million ounces over a 19-year mine life, including 13 years of openpit mining. 

Stage 1 production – the first 12 years – is expected to average 95 000 oz/y of gold at 1.13 g/t, transitioning to stockpile treatment in Stage 2 with 42 000 oz/y at 0.50 g/t. 

A 2.75-million-tonne-a-year carbon-in-pulp plant will underpin the operation, with recoveries averaging 95.5%.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$1.4-billion and an internal rate of return of 101%, with a payback from first production of 0.92 years.

Capital Expenditure
Total preproduction capital and working capital is estimated at about A$227-million.

Planned Start/End Date
Not stated.

Latest Developments
Astral Resources has raised A$65-million in a placement to accelerate work across its Kalgoorlie-region gold portfolio and underpin a large portion of the equity funding for the Mandilla gold project.

The two-tranche placement will result in the company issuing about 325-million new shares at A$0.20 apiece, representing a 9.1% discount to Astral’s last traded price and a 12.8% discount to the five-day volume-weighted average price.

Proceeds will be directed toward advancing exploration and evaluation at the Mandilla, Feysville and Spargoville projects, where Astral has outlined a combined mineral resource of 1.76-million ounces and reserves at Mandilla of 1.08-million ounces. 

The funds will also support completion of a definitive feasibility study for Mandilla, due in the June 2026 quarter, and allow for the company to progress with early infrastructure works and long-lead procurement.

Astral has indicated that, together with its existing cash balance and potential revenue from a proposed early-mining opportunity at the Think Big deposit, the placement will support a significant portion of the equity required for Mandilla’s development, subject to a final investment decision.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Astral Resources, tel +61 8 9382 8822 or email info@astralresources.com.au.