Edna May Pre-Feasibility Study and Ore Reserve

Key points

• Forrestania's maiden Ore Reserve for Edna May Deposit is 12.6 Mt at 0.99g/t Au for 402.8 koz Au
• Estimated pre-tax undiscounted free cash flow of A$728.7 million at a gold price of A$5,500/oz
• Operation life of 10 years mining and 9 years milling at an average AISC of A$3,293 per ounce

Full summary

Forrestania Resources Ltd has released the Edna May Pre-Feasibility Study (PFS) and Ore Reserve, demonstrating a significant gold development opportunity. The maiden Ore Reserve for the Edna May Deposit is 12.6 Mt at 0.99 g/t Au for 402.8 koz Au, providing 100% of the Production Target underpinning the PFS. The PFS estimates a pre-tax undiscounted free cash flow of A$728.7 million at a gold price of A$5,500/oz over a 10-year project life. The operation is expected to last 10 years of mining and 9 years of milling at an average AISC of A$3,293 per ounce. The estimated total project capital is approximately A$98.0 million. The study benefits from substantial existing infrastructure, a proven processing facility, and a long operating history.

Guidance

Estimated pre-tax undiscounted free cash flow of A$728.7 million at a gold price of A$5,500/oz over a 10-year project life

Outlook

Edna May is expected to form a key part of Forrestania's Westonia Hub strategy, with a clear pathway to restart and future production.