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 three wholly-owned subsidiaries – Challenger Gold Operations Pty Ltd, Tarcoola Gold Pty Ltd and Tunkillia Gold Pty Ltd. The company has 100% of all minerals at Tarcoola and Tunkillia. The Challenger gold mine is being operated in joint venture with Diversified Minerals Pty Ltd, an entity associated with the PYBAR Group, one of Australia’s pre-eminent and extremely successful underground mining contractors. WPG is the manager of the joint venture.
WPG’s objective is to restart Challenger with the first gold pour prior to 30 June 2016 and bring Tarcoola into production in the second half of 2016. Currently, Tunkillia production is targeted for 2018.
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.
On 15 March 2016, WPG finalised the acquisition of the Challenger gold mine and associated South Australian exploration assets. The mine has been placed on temporary suspension and a revised restart mine plan is well advanced.
Including its advanced gold projects WPG has a portfolio of exploration projects in South Australia covering a combined area of 7,343 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.