Operations

Karora’s primary gold producing operations are its 100% interests in the  Beta Hunt Mine, the Higginsville Gold Operations (“HGO”) and Spargos Gold Mine, located in Western Australia approximately 60 kilometres from Kalgoorlie along the prolific Norseman-Wiluna Greenstone Belt.  

Karora is targeting gold production of 170,000 - 195,000 ounces annually by 2024 through its self-funded organic growth plan. The growth capital required (outlined below) is carefully phased over a three-year period to allow for consistent free cash flow generation during the expansion.

Karora acquired the HGO operations on June 10, 2019, which is comprised of a central 1.6 million tonnes per annum (“Mtpa”) gold treatment plant, a large historical resource inventory and a substantial portfolio of gold tenements, including open pit and underground mines. The treatment plant is fed by material from the Beta Hunt Mine, Higginsville mining operations and the Spargo's Gold Mine, which was brought into production in late 2021.

In July 2022, Karora acquired a second gold processing facility, the Lakewood Mill located near Kalgoorlie, Western Australia, approximately 60 kilometres from the Beta Hunt Mine. The addition of Lakewood increased Karora's nominal processing capacity to approximately 2.6 Mtpa (1.6 Mtpa at Higginsville and 1.0 Mtpa at Lakewood) and significantly de-risks our growth plan to increase gold production.

Karora continues to focus on enhancing the operational synergies between its operations as well as exploring additional opportunities in the region.