Westgold Resources reported an underlying treasury build of A$251 million in the September 2026 quarter, driven by a realised gold price of A$6,029 per ounce and an all-in sustaining cost margin of A$3,117 per ounce. The company achieved this cash generation while investing A$111 million in growth projects and returning A$20 million to shareholders through buybacks, highlighting the cash-generative capacity of its mining operations. Treasury increased by A$101 million to A$1,040 million in total, and the company maintained a debt-free balance sheet with no hedging of gold price exposure.
Production for the quarter reached 98,393 ounces at an AISC of A$2,912 per ounce, in line with quarterly run rates. All four processing hubs navigated scheduled maintenance and seasonal weather disruptions in Western Australia’s Murchison region. The operational resilience reflected a deliberate 51 percent increase in ore stockpiles to 696,000 tonnes, equivalent to approximately six weeks of mill feed. This inventory build supported production continuity as the company undertook planned infrastructure investments across its mining complex.
Group ore reserves expanded 41 percent to 4.1 million ounces despite depletion from mining and asset sales. The expansion includes a maiden 1.1 million ounce reserve at Fletcher in the Southern Goldfields. This reserve growth underpins the company’s 4-5-6 growth strategy, four operating hubs providing a fully funded pathway toward approximately 500,000 ounces per annum by financial year 2029, with potential for further growth beyond the current outlook. The expanded inventory base provides greater confidence in future mine plans and production profiles.
Capital deployment reflected the growth posture. Non-sustaining capital of A$111 million funded mine development at Great Fingall and Bluebird, plant upgrades including the resolution of ventilation constraints at Beta Hunt, and power infrastructure. Exploration spending of A$24 million maintained 25 active drills focused on resource definition for near-term mining. The company also introduced a revised shareholder capital returns policy committing to a minimum annual return of three cents per share, including a minimum fully franked dividend of two cents, with flexibility for additional returns if financial conditions support them.
The near-term catalysts for growth include the Cue Expansion Plan targeting commissioning in financial year 2027 and the Meekatharra Expansion Plan scheduled for financial year 2028. These brownfield projects are designed to convert expanding ore inventories into higher production volumes at lower unit costs. Execution on these projects, gold price movements, and resource definition success at emerging zones will shape the pathway toward the company’s stated production targets. The announcement is price sensitive and flagged as material by the ASX.
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About Westgold Resources Limited (ASX: WGX)
Westgold Resources Limited is an Australian gold mining company that explores, develops, and operates gold mines in Western Australia. The company operates mining facilities across the Murchison and Southern Goldfields regions and recently expanded its operations through the acquisition of Karora Resources. Westgold is listed on both the Australian Securities Exchange (ASX) and the Toronto Venture Exchange (TSX).
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