Company Overview
Wiluna Mining is a Perth-based gold mining company that holds over 1,100 km² of active and pending tenements, located in the Yilgarn Craton in the Northern Goldfields of Western Australia. It also holds the gold rights to a further 500 km² of active contiguous tenements directly to the south under its split commodity sale agreement with Piper Preston.
The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of the most prolific gold regions in the world.
FTI Consulting was appointed as the Voluntary Administrators of Wiluna Mining Corporation Limited (“Wiluna Mining”) and related entities on 20 July 2022. FTI Consulting was subsequently appointed as Deed Administrators (“Administrators”) on 28 July 2023.
The Administrators continue operating Wiluna on a ‘business as usual’ basis while reviewing operating and recapitalisation options. The Administrators continue to work closely with Wiluna’s employees, suppliers, secured lenders and customers to stabilise operations and preserve value for all stakeholders.
FTI Consulting has engaged a new skilled management team with a clear plan to stabilise production from the retreatment of historic tailings and develop a hard rock mining re-start plan leveraging Wiluna’s multi-million-ounce potential.
The Company’s 100% owned Wiluna Operation has a defined global Mineral Resource of 7Moz at a grade of 2.38g/t Au and including a high grade underground Mineral Resources of 4.95Moz at 4.0g/t and an open pit Mineral Resources of 1.1Moz at 2.33g/t.
The company has stabilised operations and is generating modest cashflow from the tailings retreatment plant and milling ore via a conventional CIP plant. It is producing circa 25-30koz per annum in a rising gold price environment.
Free cashflow has been re-invested in the project and used to reduce debt and service interest whilst plans are being prepared to re-start hard rock mining to maximise value from the significant multi-million-ounce Mineral Resource.
The project has significant existing infrastructure including:
- Existing 2.1Mtpa CIP process plant
- Gravity circuit, which produces gold concentrate and doré
- Tailings retreatment plant which links tailings reclaim and reslurrying (as well as flotation tailings) with the existing CIP circuit to produce gold doré
- A 750,000tpa flotation concentrator which was successful commissioning in December 2021 and operated until mid-2022
More About Wiluna Mining
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