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Great Boulder Holdings Limited <br />(100% owned, and managed) <br />WMCH's wholly owned gold Interests are <br />held by Great Boulder Holdings Limned. <br />Great Boulder made a net profit <br />of X42.9 million 033.6 million) on a turnover <br />of 587.8 million 089.3 million) for the year. <br />KALGOORLIE GOLD OPERATIONS <br />as, _ +c <br />Tony Banlett <br />Manager <br />Durng the year mining of the Great Boulder <br />open cut at Fimiston was completed and <br />the ore was transported to Kambalda (or <br />treatment. <br />At the Lady Bountiful mine west of <br />Broad Arrow, in a 50/50 joint venture with <br />Consolidated Exploration N.L., removal <br />of overburden in preparation for mining of <br />an open cut was completed and some ore <br />was stockpiled. Construction of an on site <br />transportable carbon in-leach treatment <br />plant was nearing completion at year end. <br />Treatment of ore has since commenced. <br />KAMBALDA GOLD OPERATIONS <br />Production continued from the Victory/ <br />Defiance underground minetogether <br />with the Defiance and Orchin open cuts. <br />The Orion and Cave Rocks open cuts <br />commenced production during the year and <br />heap leaching of low grade ore from the <br />Defiance open cut continued. <br />Deliveries of ore from the Sand King open <br />cut ceased during the year. <br />Production <br />1985/86 1984/85 <br />Ore[reated (tonnes) <br />Kambaldammes(mdled) 665.300 731,000 <br />Kambalda mines (heap <br />leached) 188.900 152,600 <br />Great Boulder open cut 21.300 116,800 <br />Sand King open cuts 20,700 87,400 <br />Other purchased ores/toll <br />treated ores 2,800 4.100 <br />To to I 899, 000 I , 091, 900 <br />Recovered Grade (g/tonne) <br />Kambalda mines (milled) 9.41 4.06 <br />Kambalda mines (heap <br />leached) nla n/a <br />Great Boulder open cut S.S9 6 38 <br />Sand King open cuts 5.30 5.18 <br />Other purchased oresltoll <br />treated ores 7.21 8.71 <br />Average (Excluding heap leached) 4.48 4.48 <br />1985/86 1984/85 <br />Gold Recovered (ounces) <br />Kambaldammes(mdled) 94,367 95,523 <br />Kambalda mines (heap <br />leached) 5.797 S.SSD <br />Great Boulder open cut 3.825 23.958 <br />Sand King open curs 3.526 14. S58 <br />Other' 699 1,198 <br />Total 108,164 140,734 <br />'Includes gold produced for <br />others on a toll basis <br />Mine Development <br />During the year development o(the access <br />decline at the Victory/Defiance underground <br />mine continued and removal of overburden <br />commenced at the Onon and Cave Rocks <br />open cuts. <br />Concentrator <br />Despite a lower grade of ore being <br />treated, record recoveries were achieved <br />during 1985/86. partly due to Improvements <br />in the gold treatment process attributable to <br />the use o('Kambalda screens' in the gold <br />recovery circuit. <br />The screens are an innovative feature <br />devised at Kambalda to better control the <br />flow of activated carbon In the adsorption <br />tanks of the carbon-in pulp arcuit, thus <br />significantly increasing the capacty of the <br />plant. Such screens have now been widely <br />adopted at similar plants throughout the <br />State. <br />Exploration and Ore Reserves <br />Proved and probable recoverable ore <br />reserves were estimated as follows: <br />June 1986 June 1485 <br />Ore (tonnes) 8.500.000 7,900,000 <br />Grade (gltonne) 4 9 5 0 <br />LANCEFIELD GOLD OPERATIONS <br />At the Lancefield mine, production from <br />Eyers Shaft amounted to 142,300 tonnes at <br />an average grade of 6.45 g/tonne for 1985/86. <br />Mining of the Telegraph open cut at <br />Lancefeld continued although ground <br />stability problems affected production. <br />Operations commenced during the year at <br />the Bindah open cut, 90km south of <br />Laverton. <br />In the Agnew area, mining of the Emu open <br />cut was in progress and acarbon-in-leach <br />plant o(500,000 tonnes per annum capacity <br />was under construction at year end. <br />Production of gold subsequently began early <br />in August, 1986. <br />Production <br />1985186 1984185 <br />Ore treated (tonnes) 254,650 290,800 <br />Recovered grade (g/tonne) 4.62 4.71 <br />Gold recovered (ounces) 37.824 44,005 <br />Exploration and Ore Reserves <br />Recoverable ore reserves were estimated <br />as follows: <br />June 1986 June 1985 <br />Lancefeld mine (underground) <br />Proved ore (tonnes) 580,000 510,000 <br />Grade (g/tonne) 6.9 7.8 <br />Probable ore (tonnes) 890.000 580.000 <br />Grade (g/tonne) 8.5 8.0 <br />Lancefield and Bmdah (open cuts) <br />Proved and <br />probable ore (tonnes) 190.000 100.000 <br />Grade (g/tonne) 4.7 5.1 <br />Emu (open cut) <br />Probable ore (tonnes) 1,800,000 1,700.000 <br />Grade (gltonne) 3.6 3.7 <br />At Lancefield, underground proved reserves <br />increased at slightly lower grade reFleding <br />development of Main Lode on the No. 6 <br />Level. Probable reserves increased following <br />encouraging exploration results late in the <br />year from diamond drilling of the Lancefield <br />Deeps position. This is below the bottom <br />(335 metres)level ofthe old Lancefeld mine <br />which produced 1.6 million tonnes with a <br />recovered grade of 10.4 g/tonne between <br />1899 and 1942. <br />Central Norseman Gold <br />Corporation Limited <br />(50.5% owned, and managed) <br />PecerTeasdale <br />r Pendent Manager <br />CNGC's proft for the year was 824.9 million <br />(812.6 million). There was an Increase of <br />25% in the quantity of are treated in 1985/86 <br />compared with the previous year and the <br />116,547 ounces of gold recovered was the <br />highest achieved in any 12 months. <br />Production and Development <br />1985/86 1984/85 <br />Ore treated (tonnes) 303.000 241,700 <br />Recovered grade (g/tonne) 120 13.1 <br />Gold recovered (ounces) 116.547 101,556 <br />Silver recovered (ounces) 73,058 93.501 <br />Development (metres) 2.600 4,300 <br />Ore production for the year amounted to <br />306,900 tonnes (268,300 tonnes) o(which <br />75% (65%) was derived from underground <br />mines with the remainder from the North <br />Royal open cuts. There were significant <br />increases in ore production from all <br />underground mmes(exceptthe O.K.)anda <br />13 <br />