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Wiluna Mining removed from ASX

Wiluna Mining has delisted from the ASX, almost two years after it entered voluntary administration.

The Perth-based gold company said delisting wasn’t anticipated to significantly impede strategic review process, implementation of the deed of company arrangement or process for re-admission to ASX.

Wiluna said its deed administrators had applied for relief, but relief wasn’t granted by the ASX. Despite this, the deed administrators will continue to engage with external parties interested in the recapitalisation of Wiluna.

In February, FTI Consulting senior managing director Mike Ryan said the Wiluna gold mine’s pre-feasibility study demonstrated a potential pathway to return the Wiluna operations to a viable footing.

“As has been demonstrated through multiple resource and reserve statements, Wiluna has a large amount of gold mineral and ore at healthy grades,” Ryan said at the time.

“The potential of the 5.24 million ounces of gold contained within Wiluna resources cannot be overlooked.”

As of March 31 2024, Wiluna holds $2.67 million in cash. The company also sold 7281 ounces (oz) of gold bullion during the March 2024 quarter at an average price of $3155/oz.

Overall grade processed during the March 2024 quarter increased from 0.61 grams per tonne (g/t) of gold to 0.75g/t of gold, with the overall recovery decreasing from 51.5 per cent to 47.7 per cent.

Wiluna also processed 617,522 tonnes of tailings and dump leach material for 7088oz of gold during the March 2024 quarter, a 31,899-tonne and 1134-oz increase from the previous quarter.

The company said dewatering systems and access to key areas underground continue to be maintained during care and maintenance to facilitate the restart of future mining operations, and the ramp up of the Wiltails circuit remains underway.

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