Projects / 004

Six flagship projects.

Each entered at a different point in the lifecycle: feasibility, restart, expansion, or restructuring. Each is presented with the numbers and the named counterparties. Where outcomes are commercially sensitive, they are summarised at the foot of the page.

CASE STUDY 01 / 06 · CANADA / FINLAND

First gold poured in 18 months. US$70M creditor claims negotiated across 20 companies.

Westech took over Otso Gold, a distressed pre-production asset with a fractured creditor group, and delivered first gold pour within 18 months while restructuring liabilities across the corporate group.

    • First gold pour achieved in 2021, within 18 months of Westech assuming control
    • US$20.5M redevelopment financing arranged to fund the restart
    • US$70M in creditor liabilities negotiated across 20 companies in the corporate group
    • Plant commissioned at 95% recovery on a 1.2 g/t head grade
    • Operated on renewable energy
    • Stakeholder group rebuilt across financiers, regulators, and creditors spanning two jurisdictions
    • Project transitioned from distressed pre-production to operating gold producer
18 MONTHS
CONTROL TO FIRST POUR, OTSO · GOLD, CANADA / FINLAND
US$55M
TURNAROUND IN 18 MONTHS, MINERAL HILL · GOLD, COPPER, LEAD, ZINC, ANTIMONY
CASE STUDY 02 / 06 · NSW · AUSTRALIA

US$55M turnaround in 18 months.

A US$20M loss polymetallic operation returned to US$35M value within 18 months of Westech taking operational accountability.

    • 10,000m of HQ diamond drilling completed to define new open-cut gold resources
    • 6,000m of underground development advanced to sustain polymetallic production
    • 500,000 tpa state-of-the-art gold plant designed and constructed in 12 months, gold room, carbon stripping, regeneration
    • New flotation plant installed and operated in parallel with the new CIL plant for lead, zinc, copper and gold
    • First fully contained cyanide mixing and management system installed within the CIL bund
    • Tailings dam redesigned and expanded to compliance standards under increased production
    • Off-take agreements negotiated with Chinese refineries for gold and copper
    • US$20M annual loss reversed to a US$35M annualised profit within 18 months
CASE STUDY 03 / 06 · SPAIN

From creditor closure to US$1B NPV.

Westech assumed leadership of Black Dragon Gold when the project was on a creditor-closure track in Spain. The team resolved the legal disputes blocking the asset, restructured the financing, and re-established the project as a ready-to-develop gold operation.

    • Legal disputes resolved that had previously placed the project on a creditor-closure pathway
    • CA$8M Canadian financing arranged to stabilise the company and fund redevelopment
    • Dual-listing established on the ASX to broaden capital access
    • Net Present Value increased to US$1B
    • Stakeholder relationships rebuilt across regulators, financiers, and local communities
    • Project repositioned from distressed asset to ready-to-develop status with a defined development pathway
US$1B
NPV FROM CREDITOR-CLOSURE TRACK, BLACK DRAGON · GOLD, SPAIN
£80M
AIM LISTING VALUATION FROM US$30M ACQUISITION, VATUKOULA · GOLD, FIJI
CASE STUDY 04 / 06 · FIJI

Acquired for US$30M. Vended at £80M.

Wesson Group acquired Vatukoula from Durban Roodepoort Deep (DRD) for approximately US$30M. Westech delivered the operational restart and long-run management, reopening one of the deepest gold mines in the southern hemisphere and rebuilding it into a listed producer.

    • 1 Mtpa processing plant restarted and sustained across a 2,400m underground operation
    • Workforce restructured from 2,200 to 700, fully Fijian. Industrial relations reset through a negotiated workforce reform program
    • Zero lost-time injuries recorded over two years of operations at depths of 1,200m and face temperatures of 65°C
    • 20 MW diesel power station installed and operated to underwrite production continuity
    • £24M raised through institutional placements to fund expansion capital
    • Vended onto the AIM market at an £80M listing valuation
    • Ongoing safety performance cited as one of the strongest records for any deep underground gold operation in the region
CASE STUDY 05 / 06 · SOUTH KOREA

US$200,000 shell. US$110M producer.

Westech assumed management of a dormant Korean tungsten mine, a significant World War II-era producer that had remained idle for 20 years, and rebuilt it into a financed, NI 43-101-compliant tungsten and molybdenum producer.

    • 5km of underground workings reopened and developed, including a 7m-diameter adit for bulk mining
    • Initial production capacity of 1.4 Mtpa, increasing to 2.4 Mtpa over four years
    • 50,000m of twin diamond drilling completed to validate historical data and bring the orebody into NI 43-101 compliance
    • Integrated feasibility study delivered across Canadian, Australian and Chinese laboratories, covering tungsten and molybdenum extraction through to APT, yellow and blue powder
    • In-house mining and drilling crews deployed from the Vatukoula operation in Fiji to train Korean teams and accelerate development
    • US$120M in debt financing arranged through Shinhan Bank
    • Equity syndicate assembled including IMC (International Metalworking Companies), Korean Zinc, Colonial First State, and Dundee Corporation
    • Project valuation moved from US$200,000 to US$110M
US$110M
VALUATION FROM US$200K SHELL, WOULFE · TUNGSTEN & MOLYBDENUM, SOUTH KOREA
1.2 Mt
MULTI-METAL OPERATION, 80KM FROM DARWIN, BROWNS OXIDE · NT, AUSTRALIA
CASE STUDY 06 / 06 · NT · AUSTRALIA

1.2 Mt SX/EW operation. Copper cathode produced for market.

Westech was contracted by Compass Resources, financed by Hunan Precious Metals (China), to deliver a 1.2 million-tonne multi-metal operation at Browns Oxide, 80 km from Darwin. Westech delivered the well-defined process areas: front-end crushing and milling, leach, CCD and SX/EW circuits, acid handling and power supply. Copper cathode was produced for market.

    • 1.2 million-tonne multi-metal operation spanning copper, cobalt, lead and nickel for Compass Resources, financed by Hunan Precious Metals (China)
    • 80 km from Darwin, 12 km from Batchelor; designated State Significant Development by the Northern Territory Government in 2005
    • Westech contracted in 2007 after previous developers failed to advance beyond preliminary flow sheets
    • Existing mining equipment relocated and re-engineered: mills from NSW, SX/EW from Western Australia
    • Front-end crushing and milling, leach, CCD, SX/EW circuits, acid handling and power supply delivered and commissioned
    • Copper cathode successfully produced for market
    • Nickel-cobalt resin circuit deferred by Westech’s senior technical team because metallurgical testwork was insufficient to support the development plans
Further work

Further feasibility, operational and technical-review work in Europe, Africa, the Americas and Asia-Pacific.

By region

Europe
Africa
The Americas
Asia-Pacific

By commodity

Gold · Copper · Lead-zinc
Antimony · Tungsten · Molybdenum
Uranium · Phosphate
LNG · Renewable power

By engagement

Plant design & commissioning
UG & open-pit operations
Distressed-asset turnaround
NI 43-101 reporting
Creditor & stakeholder restructuring
ITR & due diligence

A significant portion of the team's recent work has been delivered under confidentiality for institutional investors, lenders, and acquirers. References available on request.

GET IN TOUCH

Let's discuss the next phase of your project.

Westech International Pty Ltd

Level 17, Chifley Tower

2 Chifley Square

Sydney NSW 2000

+61 (02) 9375 2375

info@westech.com.au

All enquiries are handled confidentially and directed to the senior technical and commercial team.

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