Gold producer Westgold Resources Ltd. has reported an underlying cash build of AU$180 million for the fiscal first quarter, an increase of AU$108 million quarter-over-quarter.
The group gold production reached 83,937 ounces at an all-in sustaining cost (AISC) of AU$2861 per ounce, in line with full-year guidance of 345,000 to r385,000 ounces at an AISC of AU$2600 to AU$2900 per ounce.
Westgold CEO Wayne Bramwell said the result was driven by a focus on operational efficiency and safety.
The company sold 94,913 ounces of gold for the quarter, achieving a price of AU$5,296 per ounce, generating AU$503 million in revenue.
Investment in exploration and resource development of AU$12 million for the quarter, makes the company on track to achieve its exploration guidance of AU$50 million for fiscal 2026.
Looking ahead, the company’s three-year outlook is to increase the company’s annual gold production to around 470,000 ounces by fiscal 2028, with an AISC at approximately AU$2,500 per ounce.
The three-year outlook excludes tangible opportunities that could represent a substantial upside to the plan. Westgold is actively advancing such opportunities.
The company has started a formal divestment process for three smaller non-core properties, including Peak Hill, Mt Henry-Selene and Chalice.
These smaller gold assets are not included in the company’s three-year outlook or longer-term mine plans. The divestment process is targeted for completion in the third quarter of fiscal 2026.
“Our team is focused on optimising our larger producing assets to maximise free cash flow,” Bramwell said.
“With improving operational performance and a clear pathway defined by the three-year outlook, the business can now plan to sustain safe, responsible and profitable production into the future.”
