Name of the Project
Waihi district gold project.

Location
Waihi, on the North Island of New Zealand.

Project Owner/s
Midtier gold and copper producer OceanaGold.

Project Description
The Waihi district prefeasibility study (PFS) covers the current operating Martha underground mine (MUG) and the new Wharekirauponga underground mine (WUG).

MUG and WUG are expected to produce a combined 1.6-million ounces of payable gold over a 15-year mine life (2024 to 2038), with peak production of 253 000 oz of gold in 2035. The MUG is expected to be the primary ore source until 2033, when mining transitions to the WUG.

Also included in the PFS is a mill expansion to 800 000 t/y; the expanded mill will start to process at the increased throughput levels in 2033. The WUG is expected to start commercial production in 2033. The operation will be accessed through 6.5 km of underground development from surface, with two ventilation shafts to be located in the Coromandel Forest Park.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a gold price of $2 000/oz, the project has a pretax net present value, at a 5% discount rate, of $902-million and an internal rate of return of 24%.

Capital Expenditure
$556-million, spread over eight years starting in 2025. Growth capital expenditures include the WUG mine development, surface infrastructure, expansion of the process plant and water treatment plant, as well as the construction of a new tailings storage facility.

Planned Start/End Date
First ore from the WUG is expected in 2032.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
OceanaGold, tel +1 604 678 4123 or email info@oceanagold.com.