The Project is located 720 km north-east of Perth, 260 km north north-east of the major mining town of Kalgoorlie, and about 18 km north-west of Laverton. It is serviced by sealed roads from Kalgoorlie via Leonora to Laverton.
A Definitive Feasibility Study on the Windarra gold tailings project was undertaken during FY21. The results of the study were positive, and the Company decided that finding a partner to develop and operate the project was optimal so management could focus on the restart of Black Swan.
After undergoing a sale process in 2022 an offer by Green Gold Projects Pte Ltd (Green Gold) was accepted to farm-into the project subject to certain Conditions Precedent (CPs). Unfortunately one of those CPs was not met and in July 2023, the agreement with Green Gold was terminated.
The Company was aware that Green Gold may not proceed and so another party has expressed an interest in treating the gold tailings and accessing the significant water resource in the South Windarra open pit. As at August 2023, indicative terms have been agreed and the parties are in the process of negotiating an agreement.