WPG Resources LTD (RECEIVERS AND MANAGERS APPOINTED) (ADMINISTRATORS APPOINTED)
WPG Resources Ltd is an Australian ASX listed resource company (ASX code WPG) with a current focus on the operating Challenger and Tarcoola gold mines and development of its gold assets in South Australia.
WPG holds its gold prospects through three wholly-owned subsidiaries – Challenger Gold Operations Pty Ltd, Tarcoola Gold Pty Ltd and Tunkillia Gold Pty Ltd.
On 15 March 2016, WPG finalised the acquisition of the Challenger gold mine and associated South Australian exploration assets. The mine was placed on temporary suspension and a revised restart mine plan was developed. Site operations at the Challenger gold mine recommenced in late May 2016 with crushing and milling of low grade stockpiled ore followed by underground mining activities on schedule and under budget. The first gold was poured on 31 May 2016.
The Tarcoola gold mine was brought into production in November 2016. The mine was officially opened on 13 December 2016 and haulage of ore to Challenger for processing began during January 2017. First gold was poured in February 2017.
The acquisition of the Tarcoola and Tunkillia gold projects in May 2014 marked the completion of WPG’s transition from an iron ore company to a gold focussed company.
Including its advanced gold projects WPG has a portfolio of exploration projects in South Australia covering a combined area of 6,450 square kilometres. These are considered to have excellent potential for the discovery of several types of mineral occurrences including gold, nickel, base metals, iron ore and coal.
A number of the Challenger tenements are subject to joint venture arrangements.
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