Wanguo Gold Group Limited: Significant Mineral Resource and Reserve Upgrade at Gold Ridge Mine

Key Highlights

• Substantial Increase in Ownership: Wanguo Gold Group Limited has increased its effective interest in the Gold Ridge Mine (Solomon Islands) to 88.2% following additional acquisitions in AXF Gold Ridge Pty Limited.
• Major Upgrade in Gold Resources and Reserves: As of 31 December 2025, the Mineral Resource Estimate (MRE) has soared to 12,970,000 ounces of gold (403.4 tonnes), up 79.7% from the previous year. The Ore Reserve Estimate (ORE) has jumped to 7,777,000 ounces of gold (241.9 tonnes), reflecting a 550.1% increase year-over-year.
• Independent Verification: Estimates are prepared by SLR Consulting Ltd and comply with the JORC Code 2012 Edition, enhancing credibility and transparency.
• Production and Expansion: The mine resumed production in 2023, with gold recovered in both ingot and concentrate forms. The flotation plant is currently being expanded from 3Mtpa to 13Mtpa, expected to significantly boost output.
• Potential for Further Resource Upgrades: There is an inferred resource of 49.3 million tonnes (1,045,000 ounces) within the reserve pit that can be upgraded to reserves through infill exploration. The southern mining area also holds approximately 60 tonnes of potential resources awaiting further exploration.
• Conservative and Robust Methodology: Gold price assumptions for resource estimation are set at USD 4,200/oz (1.3x consensus forecasts), and USD 3,200/oz for Ore Reserve calculations, ensuring prudent financial modeling.

Detailed Mineral Resource Statement (as of 31 December 2025)

Ore Reserve Estimate (as of 31 December 2025)

Additional Factors for Shareholders

• Resource Upgrade: The significant increase in both mineral resources and ore reserves underscores a dramatic improvement in the asset’s value and long-term production potential. This could have a direct impact on the Company’s valuation and share price.
• Expansion Plans: The ongoing expansion of the flotation plant from 3Mtpa to 13Mtpa is a material development that may further enhance production capacity, revenue, and profitability.
• Further Exploration Potential: The presence of large inferred resources within the reserve pit and unexplored areas in the southern mining zone indicates ongoing upside potential for additional resource upgrades, which may positively affect future earnings estimates and valuation.
• Conservative Price Assumptions: The use of a gold price well above consensus forecasts for resource estimation, and a conservative price for reserve estimation, adds robustness to the Company’s financial planning and reduces downside risk.
• Compliance and Credibility: All estimates are independently verified and conform to international standards (JORC Code 2012), which is critical for institutional investor confidence.
• Ownership Structure: The Company now holds a controlling 88.2% effective interest in the Gold Ridge Mine, which maximizes its exposure to future upside from the asset.

Potential Price Sensitivity

• The dramatic increase in mineral resources and ore reserves, coupled with the expansion of production facilities and exploration upside, is likely to be price-sensitive and could materially impact the share value.
• Investors should closely monitor further exploration results and updates on the plant expansion, as these may trigger further positive re-rating of the Company’s shares.
• As these developments represent a substantial improvement in the Company’s asset base and future production outlook, they are highly relevant for current and potential shareholders.

Disclaimer

The above article is for informational purposes only and does not constitute investment advice. Shareholders and potential investors are advised not to place undue reliance on the information disclosed herein and are encouraged to exercise caution when dealing in the securities of Wanguo Gold Group Limited. Any person in doubt should seek advice from professional advisers.

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