Westgold Resources has delivered a strong finish to financial year 2026, exceeding production guidance with 387,354 ounces of gold produced while maintaining cost discipline and building its strongest treasury position in company history. The achievement reflects a maturing operational strategy focused on higher-return assets and disciplined capital allocation, positioning the business well for future growth.
Production of 387,354 ounces for the full year came in above the company’s guidance range, while all-in sustaining costs of $2,841 per ounce remained within cost guidance. During the final quarter, Westgold produced 98,854 ounces at an AISC of $2,802 per ounce, with the Bluebird South-Junction hub achieving record mining rates beyond 1 million tonnes per annum. Both the Meekatharra and Fortnum hubs posted record annual gold production under Westgold ownership, demonstrating the value of the portfolio simplification strategy pursued over the past two years.
The treasury position represents perhaps the most compelling aspect of the results. Westgold generated an underlying cash build of $233 million during the quarter and closed the year with $939 million in cash, bullion, and liquid investments, up $575 million for the full year. This was achieved while investing $142 million in growth and optimisation projects, returning $22 million to shareholders through on-market buybacks, and investing $11 million in exploration. The company remains entirely debt free and maintains no gold hedging, characteristics that afford substantial strategic flexibility.
Management has systematically simplified the portfolio by divesting non-core assets including Peak Hill and Chalice Gold Projects, creating a more focused operation. The completion of these divestments removes complexity and allows capital to concentrate on higher-return opportunities within the core mining hubs across the Murchison and Southern Goldfields regions.
Investors should monitor the company’s FY27 production guidance and three-year outlook, scheduled for release in August 2026. The strong cash generation capability combined with a debt-free balance sheet positions Westgold to fund organic growth initiatives, support exploration programs, and continue returning capital to shareholders. The operational momentum evident in recent quarterly results, coupled with record production rates and cost discipline, suggests management’s strategy is translating into tangible shareholder value. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
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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