Westgold Resources has outlined a fully funded organic growth pathway that would increase Group gold production from 385 to 425 kiloounces of gold in FY27 to between 460 and 510 kiloounces by FY29, supported by capital investments totaling $450 million to $480 million in FY27 alone. The company’s updated three-year outlook prioritizes expansion across its largest underground mines and brownfield processing hub enhancements at Cue and Meekatharra, underpinned by increased ore availability from the Murchison region.
The production growth is coupled with an expected improvement in unit economics. Westgold forecasts its all-in sustaining costs will fall to between $2,640 and $3,000 per ounce by FY29 on an FY27 real-cost basis, down from the FY27 guidance range of $2,980 to $3,380 per ounce. This cost reduction reflects optimized mill utilization and the company’s plan to expand total processing capacity beyond 7 million tonnes per annum by FY29. These metrics demonstrate that Westgold intends to grow production while simultaneously improving operational efficiency, a combination that should benefit profitability and returns on incremental capital.
The outlook rests on a solid foundation of mineral resources, with the production target supported approximately 86 percent by ore reserves in FY27, declining to 74 percent by FY29 as the company draws on measured and indicated resources and inferred material. Westgold is also committing more than $150 million to exploration and resource definition drilling across the three-year period, focused on converting resources to reserves and extending ore inventory across the Murchison and Southern Goldfields. For investors, this signals management confidence in the durability of the mining operations and a deliberate strategy to extend reserve life while building production capacity.
Beyond the formal outlook, Westgold identifies several upside opportunities not yet reflected in guidance. The Fletcher Zone at Beta Hunt represents the most material unmodeled opportunity, with internal studies suggesting it could contribute approximately 140 kiloounces of gold annually and position the company to deliver more than 600,000 ounces per year once developed and supported by a larger Southern Goldfields processing hub. Investors should monitor progress against these capital milestones, cost guidance, and resource conversion rates in quarterly updates. The board’s approval of the planned capital expenditure and any delays in major project commissioning will be key indicators of execution quality. 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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