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	ASX / TSX: WGX
	Stage	Production + development
	Metals	Gold
	Market cap	A$2.5 Billion @ A$2.64
	Location	Western Australia
	Website	www.westgold.com.au

 

 

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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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Disclosure

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

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