Westgold (ASX / TSX: WGX)

Announced a maiden Mineral Resource for the Fletcher Zone of 2.3 million ounces of gold.

This doubles the current resource at Beta Hunt, declared in 2024.

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Beta Hunt Mine at night – Credits Westgold

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Westgold Announce Fletcher Zone Maiden Mineral Resource of 2.3Moz

Stage 1 Fletcher Resource almost doubles the current Beta Hunt Resource

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Perth, Western Australia, 23 June 2025: Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) is pleased to announce its maiden Mineral Resource Estimate (MRE) for the Fletcher Zone at the Beta Hunt mine in the Southern Goldfields of Western Australia.

Stage 1 drilling only tested 1 kilometre of the 2 kilometres of known strike of the Fletcher Zone, with a Stage 2 programme now being planned to test strike and depth extensions.

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Highlights

Maiden MRE for Fletcher Zone of 31Mt @ 2.3g/t Au for 2.3Moz Au Inclusion of Stage 1 Fletcher MRE effectively doubles the September 2024 Beta Hunt Mineral Resource.

Stage 1 Fletcher Zone mineralisation extends over a zone up to 500m in width – and 2 km in strike length with a vertical extent in excess of 800m Significant opportunity for resource extensions
 MRE drilling tested Stage 1 – the first 1km of the known 2km strike of Fletcher
 Stage 1 Mineral Resource remains open at depth
Stage 1 Mineral Resource conversion drilling commenced at Fletcher – targeting a maiden Ore Reserve in FY26

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Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold is rapidly unlocking the value we identified at Beta Hunt.

 

“This is a circa 7km long, multi-lode mineralised system that is under-drilled and the Company has delivered a maiden Mineral Resource of 2.3Moz from the Fletcher Zone, from just 1km of Fletcher’s apparent strike.

“This result points to the growth potential of Beta Hunt, and while this is a material milestone for Westgold, it is simply the first step on what is likely to be a multi-decade journey for Fletcher in an expanded Beta Hunt mine plan.

 

“Critically, mine life at Beta Hunt today exceeds ten years without any contribution from Fletcher.

 

“Mine outputs are lifting from the existing Western Flanks and A Zone mining areas and this improvement provides scope to evaluate the optimum mining and processing strategy for Fletcher, as it represents a transformational opportunity to further expand the scale of Beta Hunt outputs.

 

“Our drill teams are not slowing down. They have commenced drilling to upgrade the current Stage 1 Mineral Resource, targeting a maiden Ore Reserve during FY26 and in addition, are preparing to commence testing the northern ~1km extension of Fletcher in the Stage 2 programme.” 

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To read the full news release please click HERE

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.To View Westgold’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Westgold.

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Westgold Resources (ASX | TSX: WGX)

Provided an update on resource development drilling activities at the Beta Hunt mine at Kambalda, Western Australia.

This includes further results from Westgold’s inaugural drilling program at the Fletcher Zone and details of planned drilling of the potential southern extension of Fletcher (the Mason Zone target).

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Westgold Beta Hunt Drilling Update – Fletcher Drilling Continues to Impress while Mason Zone Emerges

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Perth, Western Australia, 18 February 2025: Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) is pleased to provide an update on resource development drilling activities at the Beta Hunt mine at Kambalda, Western Australia.

This includes further results from Westgold’s inaugural drilling program at the Fletcher Zone and details of planned drilling of the potential southern extension of Fletcher (the Mason Zone target).

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Highlights

BETA HUNT (Fletcher Zone)
■ Additional large, high-grade drilling intervals returned at Fletcher including:
• 41.00m at 7.99 g/t Au and 19.00m at 5.95 g/t Au in hole FF475SP-62AE; and
• 38.00m at 6.80 g/t Au in hole WF440VD-55AE.
■ Five drill rigs operating at Fletcher
■ Maiden Mineral Resource Estimate – to be released to the market late Q4,FY25.
BETA HUNT (Mason Zone)
■ Mason zone target interpreted as the southern fault offset extension of the Fletcher
zone with the combined strike length of the two zones (Mason + Fletcher) now ~4km
• Mason drill programs expected to commence in Q4 FY25

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Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold is mining two zones at Beta Hunt now – Fletcher will be the third.

 

“We already have access into Fletcher and once drilled, it will be an additional and independent source of ore production.

 

“At Mason, it is too early to speculate on its scale and significance. The historical drilling results here are encouraging, with some of the better results including 19.00m @ 10.73g/t Au, 35.35m @ 3.50g/t Au, 38.00m @ 2.87g/t Au and 5.20m @ 20.67g/t Au.

 

“Our early interpretation is Mason is the faulted offset of the Fletcher Zone, and if so would take the combined strike length to circa 4km.

 

“Unlocking value at Beta Hunt requires building a robust understanding of the various Beta Hunt orebodies with a long term mine plan focussed on maximising cash flow.

 

“The next step is to deliver a mineral resource estimate for Fletcher which we expect to announce to the market late in Q4 FY25.”

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To read the full news release please click HERE

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.To View Westgold’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Westgold.

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Westgold Resources (ASX / TSX: WGX)

Provided preliminary production results for Q2, FY25, where Westgold produced 80,886 oz of gold (up from 77,369 oz in Q1, FY25.

Total production for the first half was 158,255 oz with production expected to further increase in H2, FY25, consistent with guidance.

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Westgold – Bluebird Spouth Junction

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 Westgold Group Production Lifts in Q2 FY25

Perth, Western Australia, 9 January 2025: Westgold Resources Limited (ASX/TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to provide preliminary production results for Q2, FY25.

Since merging with Karora Resources in August 2024, Westgold continues to invest in the expanded business and increase quarter on quarter gold production.

In Q2, FY25, Westgold produced 80,886 oz of gold (up from 77,369 oz in Q1, FY25.

Total production for the first half was 158,255 oz with production expected to further increase in H2, FY25, consistent with guidance.

Ramp up at both the Bluebird and Beta-Hunt underground mines continues.

At Bluebird-South Junction, efforts were focussed on increasing grade and consistency of mine production, while a modified ground support regime was implemented.

At Beta Hunt mine infrastructure upgrades critical to increasing mine outputs (including water, power reticulation and ventilation circuits) are being implemented and are due for completion at the end of Q3, FY25.

Development at the Great Fingall mine near Cue remains on track, with first ore anticipated in Q4, FY25. 

Westgold’s quarterly gold production (koz) As of 31 December 2024, the Company’s cash, bullion and liquid investments was $152M and together with $250M undrawn from its $300M Corporate Facility, the Company had financial liquidity of $402M at hand.

Q2, FY25 operational and cost details will be available in the full December 2024 Quarterly Report to be issued on 30 January 2025.

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Westgold Managing Director and CEO Wayne Bramwell commented:

 

“Q2, FY25 saw Westgold continue to optimise its expanded, post-merger business. Production increased whilst we continued to heavily invest in the long-term capacity of our mines in the Murchison and Southern Goldfields.

 

“Investment to support increased and sustainable production from our principal mines was the key focus of our activities over H1, with multiple growth projects advancing in parallel across the expanded group.

 

“Bluebird-South Junction and Beta Hunt are our key drivers of growth in H2, FY25 with operational changes being implemented to see outputs lift and become more consistent into H2, FY25.

 

“In addition, the Great Fingall Mine is scheduled to begin production in late Q4, FY25.

 

“To drive our long-term cost base down, plant expansion studies at Higginsville, Bluebird and Fortnum are advancing with initial capital estimates to be reported shortly.

 

“To extend mine lives, our underground drilling fleet is fully deployed across the group and surface drill contractors are active at Peak Hill and Higginsville.

 

“All these elements are beginning to coalesce with the stage now set for Westgold to demonstrate the enhanced capability of our expanded asset base during H2, FY25.” 

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To read the full news release please click HERE

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.To View Westgold’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Westgold.

.

Karora Resources (TSX: KRR)

Announced financial and operating results for the Q1 2024. The Company’s unaudited condensed interim financial statements and MD&A are posted on SEDAR.

The company recorded record revenue despite a rain affected quarter causing production to fall 9%. AISC remain on track for 2024 guidance.

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KARORA REPORTS RECORD REVENUE AND STRONG CASH FLOW FOR Q1 2024

TORONTO, May 13, 2024 /CNW/ –Karora Resources Inc.(TSX: KRR) (“Karora” or the “Company”) today announced financial and operating results for the first quarter of 2024 (“Q1 2024”).

The Company’s unaudited condensed interim financial statements and management discussion & analysis (“MD&A) are available on SEDAR at www.sedarplus.ca and on the Company’s website at www.karoraresources.com. All dollar amounts are in Canadian dollars, unless otherwise noted.

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FIRST QUARTER 2024 HIGHLIGHTS

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GOLD PRODUCTION AND SALES

• Pre reported Q1 2024 production of 36,147 gold ounces decreased 9% from 39,827 ounces in the first quarter of 2023, and 10% compared to production of 40,295 ounces in the fourth quarter of 2023 (“the previous quarter”). Production was negatively impacted by wet weather experienced across all three operating sites during the quarter and a regional interruption to state grid power impacting the Lakewood mill and Beta Hunt mine, affecting gold ounces produced. Gold sales for Q1 2024 were strong at 40,343 ounces, an increase of 12% compared to Q1 2023 and 8% higher than the previous quarter.

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COSTS ON TRACK TO ACHEIVE WITH 2024 GUIDANCE

• Cash operating costs¹ and AISC¹ per ounce sold for Q1 2024 averaged US$1,193 and US$1,285, respectively, versus US$1,272 and US$1,435, respectively, for Q4 2023. The lower costs compared to the prior quarter primarily reflects the impact of higher nickel by-product credits ($2.91 million or US$54/oz nickel by-product credits in the current quarter compared to $0.3 million US$5/oz for the final quarter of 2023). The higher by-product credits reflect recommencement of nickel sales in the first quarter.

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RECORD QUARTERLY REVENUE

• Revenue in Q1 2024 totaled $115.5 million, a new quarterly record for the Company and 19% higher than the first quarter of 2023 and 14% from the previous quarter. The increase compared to both prior quarters reflected higher realized gold price and higher sales volumes.

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SOLID OPERATING CASH FLOW GENERATION

• Q1 2024 cash flow provided by operating activities of $42.6 million versus $20.9 million in the first quarter of 2023 and $32.1 million the previous quarter, driven by the improved gold sales volume and realized price.
• Cash at March 31, 2024 of $87.3 million was an increase of $4.8 million or 6% from $82.5 million at December 31, 2023.

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EARNINGS PERFORMANCE

• Net earnings for Q1 2024 of $2.1 million ($0.01 per share) compared to net loss of $2.9 million ($0.02 per share) for the same period in 2023 and net loss of $1.7 million ($0.01 per share) in the fourth quarter of 2023. The first quarter of 2024 was impacted by a non-cash $6.3 million loss on derivatives and $5.0 million foreign exchange loss.
• Adjusted earnings¹ for Q1 2024 of $13.3 million ($0.07 per share) compared to $4.8 million (0.03 per share) in the first quarter of 2023 and $3.3 million ($0.02 per share) for the previous quarter, reflecting higher sales volumes and prices as noted above.
• Adjusted EBITDA^1,2 for Q1 2024 of $40.5 million ($0.23 per share) was an increase of 42% from $28.6 million in the first quarter of 2023 and 63% higher than the $24.9 million in the fourth quarter of 2023.

 Karora Resources (TSX: KRR)

Announced financial and operating results for the fourth quarter (“Q4 2023”) and full-year of 2023.

Production was a record 160,492 ounces, increased 20% from 133,887 ounces for 2023, driven by a 37% increase gold produced from the Beta Hunt Mine. The Company exceeded 2023 production guidance.

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Gold in drill core from Beta Hunt mine, Western Australia

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KARORA RESOURCES REPORTS RECORD PRODUCTION, REVENUE AND CASH FLOW FOR 2023

Karora Resources  (TSX: KRR)

Announced updated 2024 gold production guidance of 170,000 – 185,000 ounces and all-in sustaining cost cost guidance of US$1,250–US$1,375 per ounce sold.

Karora’s updated guidance incorporates optimized 2024 mine and development plans across its operations.

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Karora Resources – Beta Hunt Mine Specimen Stone

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Karora Announces Consolidated 2024 Gold Production Guidance Of 170,000 – 185,000 Ounces At AISC Of US$1,250 – US$1,375 Per Ounce Sold

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Karora Resources (TSX: KRR)

Announced further significant results from gold exploration and infill drilling at the Beta Hunt Mine.

Highlights were hole WF380ACC-09AE at 3.8 g/t over 33.0 metres and 5 g/t over 9.0 metres.

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New Sandvik DD422i Twin Boom Jumbo Drill at the Beta Hunt Mine

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Karora Resources Announces New Fletcher Zone Gold Drilling Results of 3.8 g/t over 33.0 metres and 34.6 g/t over 2.0 metres at Beta Hunt

TORONTO, Feb. 22, 2024 /CNW/ – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to announce further significant results from gold exploration and infill drilling at the Beta Hunt Mine:

• The first set of assay results from the Stage 2 infill program targeting the north end of Fletcher South produced high grade mineralized intersections that support the interpretation of a significant mineralized system west of the Western Flanks Mineral Resource.
• Fletcher results highlighted by drill hole WF380ACC-09AE which intersected 3.8 g/t over 33.0 metres.
• At Larkin, infill drilling targeting both gold and nickel mineralization delivered results that support the recently updated Larkin Gold Mineral Resource.

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Intersection highlights are summarised below:

Fletcher²

• WF380ACC-09AE: 3.8 g/t over 33.0 metres and 5 g/t over 9.0 m
• WF380ACC-12AE: 15.2 g/t over 3.3 metres and 3.8 g/t over 6.8 m
• WF380ACC-16AE: 34.6 g/t over 2.0 metres

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Larkin Central

• B30-19-34NR¹: 6.7 g/t over 9.4 metres
• B20-1826-08NR²: 13.7 g/t over 3.5 metres
• B30-19-41NR¹: 4.0 g/t over 4.7metres

1. Estimated True Widths
2. Interval lengths are downhole widths. Estimated true widths cannot be determined with available information.

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Paul Andre Huet, Karora Resources Chairman & CEO, commented:

“The aggressive drilling program at our flagship Beta Hunt mine, designed to add gold ounces and upgrade resources, continues to yield results from the growing Fletcher Zone as well as the Larkin zone.

 

“Today’s results from the Fletcher Zone include a very long intercept of 3.8 g/t over 33.0 metres and high-grade intercepts of 34.6 g/t over 2.0 metres and 15.2 g/t over 3.3 metres.

 

“These results support both extending and increasing confidence in the Fletcher South Zone with the ultimate goal of completing sufficient drilling to produce a maiden Mineral Resource for the Fletcher Zone.

 

“At Larkin, new drilling returned 6.7 g/t over 9.4 metres and 13.7 g/t over 3.5 metres from the central portion of the zone which will support the 2023 update of the Mineral Resource Model.

 

“On the development and mining front, I am very encouraged with the continued productivity gains since the completion of the second decline and primary ventilation upgrades.

 

“This has been further bolstered by the delivery of two new twin boom jumbo Sandvik DD4422i drills in December 2023 and the recent delivery of two new CAT AD63 underground trucks and a new CAT R2900 underground loader during second half of 2023.

 

“Our expansion work in 2024 at Beta Hunt is focused on increasing development rates to deliver the additional mining faces required for us to reach 2.0M tpa by the end of the year, including new mining areas in the Larkin and Mason zones on top of the current established mining areas of Western Flanks and A Zone.

 

“Our new equipment and ventilation upgrades have us in excellent position to achieve our targets.

 

“Overall, exploration and development work underway at Beta Hunt is progressing on track with our plans to reach an annualized 2.0 M tpa by the end of 2024, demonstrating the tremendous potential we saw in this asset several years ago.

 

“While we are executing on this plan, we will continue to drill test new areas such as Fletcher in order to add potential ounces and flexibility to our mining plan.”

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To read the full news release, please click HERE

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Karora Resources (TSX: KRR)

Announced the second set of results from the nine-hole drill program aimed to test and infill the southern extension of the Fletcher Shear Zone over 500 m of strike north of the Alpha Island Fault.

Assays from the final five holes of the program were received, highlighted by broad, high grade intersections. 

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Karora Reports Results From Fletcher South Infill Drill Program Showing Strong Continuity With Intersections Of 15.9 G/T Over 6.0 Metres And 4.8 G/T Over 32.0 Metres.