Macraes Operation

Combined open-pit and underground gold complex centered on the Hyde-Macraes Shear Zone. Located approximately 60 km north of Dunedin in the South Island of New Zealand. Property covers 14,576 hectares of contiguous mining and exploration permits. Orogenic style gold deposit with mineralization synchronous with deformation. The current operation began mining and processing in 1990. Processing plant incorporates a SAG mill, flotation circuit, autoclave for pressure oxidation, and CIL plant with a capacity of up to 6.6 Mtpa. MP4 Fast-track application for mine life extension is expected to be submitted in Q3 2026.