WPG Resources Ltd is an Australian ASX listed resource company (ASX code WPG) with a current focus on its advanced gold projects in South Australia.
WPG holds its gold prospects through two wholly-owned subsidiaries – Tarcoola Gold Pty Ltd and Tunkillia Gold Pty Ltd. The company has 100% of all minerals at Tarcoola and Tunkillia.
WPG’s objective is to bring Tarcoola into production in 2016.
Initial Tunkillia production is targeted for 2018 at ~70,000 ounces of gold per annum.
The acquisition of the gold projects in May 2014 marked the completion of WPG’s transition from an iron ore company.
Including its advanced gold projects WPG has a portfolio of exploration projects in South Australia covering a combined area of 4,928 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.
WPG has exercised an option to acquire the Challenger gold mine and associated South Australian exploration assets from Kingsgate Consolidated Limited. Completion of this acquisition is anticipated to occur at the end of February 2016.
The acquisition of Challenger will increase WPG’s portfolio of exploration projects in South Australia to cover 7,343 square kilometres, with a number of tenements in joint venture with Tyranna Resources Limited for gold and Iron Road Limited for iron.
WPG and its joint venture partner PYBAR intend to re-open Challenger following completion of the acquisition. Work on a mine re-start plan is advancing.