Westgold (ASX / TSX: WGX)

Posted Record half-year results with record production.

The high gold price enabled the company to declare record revenue of A$1.238 billion.

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Beta Hunt Mine at night – Credits Westgold

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Westgold Post Record Half-Year Results

Westgold (ASX / TSX: WGX) posted Record half-year results with record production.

The high gold price enabled the company to declare record revenue of A$1.238 billion.

A corporate presentation featuring the results can be read HERE

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To view the latest share price and stock chart, please click HERE

.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)

Reported record results for the period ending 31 December 2025 (Q2 FY26), with record gold production, higher volume third-party ore purchase, and a record achieved gold price effectively doubling the underlying cash build compared to Q1 FY26.

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Beta Hunt Mine at night – Credits Westgold

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Westgold’s Underlying Quarterly Cash Build Doubled to a Record $365M

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Perth, Western Australia, 21 January 2026: Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) is pleased to report results for the period ending 31 December 2025 (Q2 FY26), with record gold production, higher volume third-party ore purchase, and a record achieved gold price effectively doubling the underlying cash build compared to Q1 FY26.

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HIGHLIGHTS

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PRODUCTION

Record Group gold production of 111,418oz Au @ AISC of
$3,500/oz – excluding ore purchases, Westgold produced
89,101oz at AISC of $2,945/oz
• 33% increase in gold produced quarter on quarter
• Reef mining recommenced at Great Fingall Mine
• Higher volume of HG oxide ore purchased from NMG

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TREASURY

Gold sales of 115,200oz – at an average price of A$6,356/oz
generating revenue of A$732M

Underlying cash build of $365M – before outflows of stamp
duty on Karora transaction ($76M), debt repayments ($50M),
investments in growth ($48M), dividends and buybacks ($29M)
and exploration ($6M) and inflows from asset sales of $26M

$654M in closing cash, bullion, and liquid investments @
31 December 2025 – a $182M increase Q on Q

Westgold is 100% debt free and remains unhedged

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CORPORATE

Ongoing portfolio optimisation to unlock shareholder value:
• Mt Henry-Selene divested for $64.6M
• Reedy’s and Comet assets to demerge into a new
ASX‑listed company, Valiant Gold Limited
FY25 dividends paid and FY26 share buyback continues
FY26 Guidance Maintained

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Westgold Managing Director and CEO Wayne Bramwell commented:

“In Q2, FY26 Westgold delivered record quarterly cash build of $365M and production of 111,418 ounces.

 

“Continued operational improvement from our assets continued and we had the opportunity to super charge our cash build by purchasing a higher volume of third-party ore. This third party ore delivered 22,317 ounces and monetising it further strengthened our balance sheet.

 

“These factors culminated in the Group closing the quarter with a treasury of $654M.

 

“Costs this quarter, reflected deliberate choices made to maximise value.

 

“Operational outputs continued to improve in the Murchison, whilst the Southern Goldfields were stable. The election to process higher volumes of softer, higher-grade oxide in the Murchison allowed us to significantly increase milling throughput at Meekatharra and accelerated cash generation, even though this third‑party ore carries a higher unit cost.

 

“Looking ahead, our 3‑Year Outlook (3YO) clearly maps a pathway to structurally lower our cost base. The ramp up of our Bluebird–South Junction mine at Meekatharra, Great Fingall at Cue and increasing outputs from Beta Hunt in Kambalda will underpin higher grade ore replacing the low‑grade stockpiles milled to maintain processing throughputs at our largest processing hubs.

 

“In parallel we are actively advancing a range of Westgold owned open pit targets to bring value forward in the 3YO. 

 

“As we enter the second half of FY26 our focus remains on more consistent operational delivery. Our key growth projects are advancing to plan and alongside a non-core divestment programme, the planned demerger and IPO of Valiant Gold during H2, FY26 can create additional ore supply for our Murchison processing hubs and unlock latent value for our shareholders.

 

“Westgold’s momentum continues to build. The business has scale, is debt free, unhedged and with a clear plan to reduce our cost structure, this team is committed to unlocking greater value from our portfolio.”

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To read the full news release please click HERE

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To view the latest share price and stock chart, please click HERE

.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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Mining Review 21st December 2025

The big news of the week was Equinox Gold’s Brazilian asset sale to reduce debt.

Great Boulder, Ora Banda Mining, and Pacgold all announced exploration successes.

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Aerial view of the White Dam Project – Courtesy of Pacgold Ltd.

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City Investors Circle Mining Review 21st December 2025

The big news of the week was Equinox Gold’s Brazilian asset sale to reduce debt.

Great Boulder, Ora Banda Mining, and Pacgold all announced exploration successes.

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A list of all the significant news releases from our watchlist companies last week is below, please click on the link to be taken to the full story. Arc

   Ora Banda Confirms Significant Extension at Sand King

  Great Boulder +1 M Oz High-Grade Gold Resources at Side Well

  Pacgold’s St George Defines 14km Gold and Antimony Anomaly

  Kaiser Reef Completes Union Hill Waste Dump Drilling

  Westgold Sells Mt. Henry to Alicanto Minerals

  Westgold to Spin-Out Non-Core Assets to Valiant

  Equinox Gold Sale of Brazil Operations, Reduces Debt

  Mining Review 14th December 2025

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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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Westgold Resources (ASX / TSX: WGX)

Announced that  it has agreed to sell the Mt Henry Gold Project to Alicanto Minerals for an upfront consideration of $15 million cash and ~357.1 million shares, plus $30m in performance-based contingent payments.

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Westgold Sells Mt. Henry to Alicanto Minerals

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Alicanto Minerals Limited (ASX: AQI) (“Alicanto” or the “Company”) is pleased to announce it has agreed to acquire the Mt Henry Gold Project (“Project”) from Westgold Resources Limited (ASX/TSX: WGX) (“Westgold”) for upfront consideration of $15 million cash and ~357.1 million shares, plus $30m in performance-based contingent payments (“Acquisition”).

On completion of the Acquisition and Placement, Westgold will become a 19.9% shareholder in Alicanto, establishing strong long-term alignment as the Project advances.

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Key Points

• Alicanto has entered into a binding agreement with Westgold to acquire 100% of the Mt Henry Gold Project in Western Australia
• Mt Henry hosts a Mineral Resource of 0.9Moz and sits within a 16km mineralised corridor; The mineralisation remains completely open along strike and down dip with clear potential for rapid Resource growth and broader district-scale upside
• Mt Henry was last mined in 2019; Current Mineral Resource are reported inside pit shells completed at an assumed price of ~A$2,169/oz; With gold now above A$6000/oz, there is clear potential for larger pit shells and evaluation of broader development scenarios
• Prior drilling returned substantial widths and grades from unmined areas highlighting the scale and continuity of mineralisation, results include:
o 18.0m @ 16.4g/t gold from 14m (hole MHRD0121)
o 19.0m @ 9.0g/t gold from 29m (hole NMC005)
o 64.0m @ 3.9g/t gold from 65m (hole 5HENC068)
o 39.0m @ 5.2g/t gold from 100m (hole NHC122)
o 18.0m @ 9.8g/t gold from 1m (including 5m @ 33.1g/t from 8m) (hole

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Alicanto Interim Executive Chair, Ray Shorrocks, said:

“The Mt Henry acquisition is an exceptional company making opportunity for Alicanto.

 

“It provides immediate scale, a high-quality, near-surface Resource and a clear platform for rapid growth and development.

 

“The 0.9Moz resource and pit shells were calculated when the gold price was one-quarter of its current level and the historic drilling data shows most holes ended in mineralisation.

 

“Given the wide-open nature of the mineralisation and the huge increase in the gold price, the upside at MtHenry is immense on every level.

 

“We will waste no time in unlocking this potential, with a 50,000m drilling program already scheduled to start in the first quarter of 2026.

 

“We are pleased to welcome Westgold as a 19.9% shareholder from completion of the Acquisition. This commitment reflects their confidence in the quality of the Mt Henry Gold Project and in Alicanto’s strategy to build a meaningful Western Australian gold business”.

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To read the full news release please click HERE

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To view the latest share price and stock chart, please click HERE

.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)

Confirmed that, subject to approval from the Australian Securities Exchange (ASX), it is proceeding with the demerger and an initial public offering of its non-core Reedy’s and Comet assets (Demerger Assets) in the Murchison region of Western Australia to Valiant Gold Limited (Valiant).

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Beta Hunt Mine at night – Credits Westgold

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Westgold to Spin-Out Non-Core Assets to Valiant

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Ore purchase agreement to provide fast track opportunity to cash flow
Highlights

Perth, Western Australia, 15 December 2025: Westgold Resources Limited (ASX | TSX: WGX) (Westgold or the Company), is pleased to confirm that, subject to approval from the Australian Securities Exchange (ASX), it is proceeding with the demerger and an initial public offering of its non-core Reedy’s and Comet assets (Demerger Assets) in the Murchison region of Western Australia to Valiant Gold Limited (Valiant).

Highlights

■ Westgold non-core assets to be spun out via a demerger and concurrent IPO in Q3, FY26 to Valiant Gold Limited (Valiant) – a new standalone ASX-listed gold company.
■ Valiant to acquire the Reedy and Comet Projects – an exploration and development
package including four small historic underground mines with recent production history and a combined Mineral Resources of 15.6 Mt @ 2.4 g/t Au for 1.2 Moz.
■ Demerger and IPO unlocks value from assets not included in Westgold’s 3 year outlook – via a dedicated, well-funded exploration and development team focused on generating early cashflow via an Ore Purchase Agreement to be entered into with Westgold.
■ Valiant Board and Management team established – Derek La Ferla appointed as Non-Executive Chairman, Brendan Tritton as Managing Director and Anthony Chamberlain as a Non-Executive Director. Westgold’s Chief Growth Officer, Simon Rigby, to join the Valiant Board as a Non-Executive Director and as Westgold’s nominee.
■ Valiant to be well funded – as part of the concurrent IPO, Valiant intends to raise $65 -$75 million (before costs), with eligible Westgold shareholders entitled to participate in a $20 million priority offer.
■ Westgold to retain upside to exploration and production success – through a substantial equity holding in Valiant.

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Wayne Bramwell, Managing Director and CEO of Westgold commented:

“Westgold is focused on expansion of our larger, core operating assets.

 

“By establishing Valiant, we create an independent, well-funded gold company that can bring forward value from smaller assets such as the Comet and South Emu-Triton underground mines and unlock the exploration potential across the Reedy and Comet packages.

 

“Valiant will have a fast-track to cashflow with an Ore Purchase Agreement (OPA) to be entered into with Westgold.

 

“This collaborative, capital efficient model is proven, as demonstrated by Westgold’s investment and OPA with New Murchison Gold (ASX: NMG).

 

“This model saw NMG transition from explorer to producer, with gold production from NMG’s Crown Prince deposit now delivering high grade oxide ore to Westgold’s Meekatharra processing hub.

 

“Valiant can replicate this success. With several small underground mines in care and maintenance, a range of open pit opportunities, and exploration upside, the Valiant team has multiple near-term restart and growth options to deliver near term cashflow.”

 

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To read the full news release please click HERE

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To view the latest share price and stock chart, please click HERE

.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.

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Westgold Resources (ASX | TSX: WGX)

Has successfully fired the first high-grade stope at its iconic Great Fingall Mine – now accessing virgin areas of the famous gold reef last mined more than a century ago.

Located near the town of Cue in Western Australia, the Great Fingall mine produced an astonishing 1.2Moz of gold between 1891 and 1918.

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Westgold Recommences Mining at Great Fingall

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Perth, Western Australia, 11 December 2025: Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) confirms it has successfully fired the first high-grade stope at its iconic Great Fingall Mine – now accessing virgin areas of the famous gold reef last mined more than a century ago.

Located near the town of Cue in Western Australia, the Great Fingall mine produced an
astonishing 1.2Moz of gold between 1891 and 1918 − from just 1.9Mt of ore, notably without the benefit of modern mining technology.

At steady state production from 2027, Great Fingall will deliver ~0.5Mtpa of high-grade ore to Westgold’s Cue processing hub, supplementing ore feed from its nearby +1Mtpa Big Bell mine.

Highlights

• Reef mining has recommenced at the historically significant Great Fingall
  Mine near Cue.
  First stope firing delivered grades averaging between 3-4 g/t Au.
  Great Fingall high-grade ore to boost production at Cue processing hub –
  complementing Big Bell’s volume contribution.
  Ramp-up underway toward steady-state production of ≈ 40ktpm from Great
  Fingall and Golden Crown by late FY27.
  Underground drilling continues – targeting mine life extensions and new targets
  beyond the current six-year plan.

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To read the full news release please click HERE

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To view the latest share price and stock chart, please click HERE

.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.

.

New Murchison Gold  (ASX: NMG) 

Announced that the first gold bearing ore has been crushed, assayed, and stockpiled at Crown Prince Gold Mine.

The first 10kt parcel of product is being trucked to Westgold Resources’ Bluebird gold processing facility 36km by road.

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Crown Prince – Courtesy of New Murchison Gold

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MURCHISON GOLD’S CROWN PRINCE GOLD MINE COMMENCES PRODUCTION

New Murchison Gold Limited (ASX:NMG) (“NMG” or the “Company”) is pleased to announce that the first gold bearing ore has been crushed, assayed, and stockpiled at Crown Prince Gold Mine (Crown Prince).

The first 10kt parcel of product is being trucked to Westgold Resources Limited’s (ASX:WGX)) Bluebird gold processing facility 36km by road south of Crown Prince.

This major Company milestone sees the evolution of the Company into a gold producer following the decision to develop Crown Prince in late June 2025.

The Company issued its first Collection Notice for Crown Prince, in accordance with the Ore Purchase Agreement with Big Bell Gold Operations Pty Ltd (a Westgold subsidiary), triggering the Commencement Date in that Agreement.

The Company expects to ramp up to its target of 40,000 tonne of ore per month run rate during September / October.

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Alex Passmore NMG’s CEO commented:

“After executing the OPA in December 2024, the Company is very pleased to bring the Crown Prince Gold Mine into production at record Australian dollar gold prices and ahead of the 30 September 2025 Anticipated Commencement Date established in the OPA.

 

“We look forward to further growth from both Crown Prince Gold Mine and the Company’s regional portfolio.”

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To read the full news release please click HERE

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..

.To View New Murchison Gold’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 New Murchison Gold.

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Mining Review 7th September 2025

G Mining Ventures received the final permit for the Oko West project in Guyana.

Westgold issued an updated MRE and Ore reserve calculation, and New Murchison Gold reported some high-grade exploration hits.

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New Murchison Gold vista – Credits New Murchison Gold

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City Investors Circle Mining Review 7th September 2025

Mining Review 7th September 2025

G Mining Ventures received the final permit for the Oko West project in Guyana. The company have already started to order long lead items, and the development phase has now commenced.

This starts an exciting phase for the company, and I wonder if the time is ripe for it to make a bid for G2 Goldfields, their northern neighbour whose project abuts Oko West? A combination looks to make sense, there are two other predators, Anglogold and Zijin, so locking up the land now would make sense in my opinion.

Westgold issued an updated MRE and Ore reserve calculation, and the share price finally gained some traction as a result.

New Murchison Gold reported high-grade gold hits at Abbots.

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Generally my portfolio of producing gold stocks had a strong week, whereas the explorers were more mixed. Fortunately I focus on producers rather than explorers, so last week was probably my best of the year so far.

Will the FED rate cut, which looks rock solid for next week be the catalyst for a further run up in the price of gold, or is it already factored in?

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Gold is running strongly at the moment, buoyed by the seemingly imminent US rate cut, now estimated to be a half percent. Silver is also rising strongly on the back of rising industrial demand.

The price of lithium is falling back after a brief spurt on the back or China closing some lithium mines to cut the over supply in the markets and boost the price. The sale of EVs in Europe is still weak, price being a main factor in my opinion.

Copper is also falling back after the panic over trump’s tariffs and the rush to export into the USA before they became effective.

  Westgold 2025 Mineral Resources Estimate and Ore Reserves

  New Murchison Gold Reported High-Grade Gold Hits At Abbotts

  Capricorn’s Karlawinda Expansion Project Siteworks Underway

  G Mining Ventures Received the  Final Permit for Oko West Gold Project

  Kaiser Reef started a strategic review of its A1 Gold Mine

  Galiano Gold Reported Q2 2025 Results

  Market Review August 2025 Published

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Market Data

Weekly Price Changes

(US$ unless stated)

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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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

Westgold Resources (ASX / TSX: WGX)

Westgold or the Company) is pleased to provide its updated Mineral Resource Estimate and Ore Reserve Statement calculated as at 30 June 2025.

With current milling capacity of 5.7 Mtpa, Westgold has an estimated Reserve life of approximately 10 years.

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Beta Hunt Mine at night – Credits Westgold

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WESTGOLD 2025 MINERAL RESOURCE ESTIMATE AND ORE RESERVES

Westgold Resources Limited (ASX | TSX: WGX) Westgold or the Company) is pleased to provide its updated Mineral Resource Estimate and Ore Reserve Statement calculated as at 30 June 2025.

With current milling capacity of 5.7 Mtpa, Westgold has an estimated Reserve life of approximately 10 years.

Group Gold Mineral Resource Estimate and Ore Reserves

At 30 June 2025
Total Mineral Resource Estimate 231 Mt at 2.18 g/t Au for 16.3 Moz of gold
Total Ore Reserves 56 Mt at 1.93 g/t Au for 3.5 Moz of gold

Highlights

24% increase in Mineral Resource – growing to 16.3 Moz post mining depletion (up from 13.2 Moz in FY24)
5% increase in Ore Reserves – lifting to 3.5 Moz post mining depletion.

Southern Goldfields Milestone – 2.3 Moz Stage 1 Fletcher Zone Maiden Mineral
Resource Estimate (at Beta Hunt)

Murchison Milestones – Bluebird – South Junction’s Mineral Resource grows to 1.3 Moz
(up 35% year-on-year post mining depletion).

Starlight’s Mineral Resource grows to 866 koz (a 46% increase year-on-year post-depletion.)

Ore Reserves Increase at Major Murchison mines:

Bluebird – South Junctions Ore Reserve up 90% to 528 koz and Starlight up 94% to 250 koz post mining depletion.

Reserve life continues to grow – with a total milling capacity of 5.7 Mtpa, Westgold has
an estimated Reserve life of approximately 10 years.

Nineteen drill rigs operating – on surface and underground across the 3,200km2 portfolio, $50M to be invested in exploration and resource development in FY26.

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Westgold Managing Director and CEO Wayne Bramwell commented:

“In FY25 Westgold invested $43M in resource development and exploration across our portfolio.

 

“This investment delivered significant growth in Group Mineral Resources, most notably with the maiden Fletcher Mineral Resource of 2.3 Moz, and a material uplift in Group Ore Reserves.

 

“Importantly, our Mineral Resource and Ore Reserve growth has been created whilst concurrently investing in critical mine infrastructure across our Murchison and Southern Goldfields mines.

 

“This investment has now established a sustainable platform for long term cashflow generation over a 10-year Group Ore Reserve life.

 

“Westgold will continue to drill and invest in organic growth through exploration, resource definition and Mineral Resource conversion across our portfolio.

 

“We unlocked value for our shareholders and stakeholders in FY25 and are confident in our team’s ability to create additional value from two of Western Australia’s most productive goldfields.”

.

——-

To read the full news release please click HERE

.

.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.

.

Mining Review 29th June 2025

Westgold doubled the resource at Beta Hunt, in Western Australia.

West Red Lake Gold Mines published an update on progress as mining ramps up at their Madsen Gold mine.

.

City Investors Circle Mining Review 29th June 2025.

Mining Review 29th June 2025

Westgold doubled the resource at the Beta Hunt gold and nickel mine, in Western Australia.

West Red Lake Gold Mines published an update on progress as mining ramps up at their Madsen Gold mine.

——-

  Horizon Minerals Drilling Underway at Burbanks

  Wesdome Provided a Kiena Exploration Update

  Capricorn Metals Mining Contract Awards

  West Red Lake Gold Mines Provided a Madsen Mine Operations Update

  Equinox Gold’s Acquisition Of Calibre Mining Completed

  Westgold Doubled the Beta Hunt Gold Resource

  Mining Review 22nd June 2025

.——-

.

Market Data

Monthly Price Changes

(US$ unless stated).

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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

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.

.

Beta Hunt Mine at night – Credits Westgold

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.

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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.

.
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

.

.
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.” 

.

——-

To read the full news release please click HERE

.

.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.

.

Westgold (WGX:  ASX / TSX)

Has responded to media speculation regarding potential corporate activity in the Murchison region of Western Australia.

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.

.

.

Westgold Responds to Media Speculation

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ASX Announcement
Westgold Resources Limited

Response to Media Speculation

Perth, Western Australia, 26 May 2025: Westgold Resources Limited (ASX | TSX: WGX –

.
Westgold or the Company) notes recent media speculation regarding potential corporate activity in the Murchison.

The Company advises that there is no basis to this speculation and confirms that it is in compliance with ASX Listing Rule 3.1 (Continuous Disclosure).

This announcement is authorised for release to the ASX by the Board.

.

——-

To read the full news release please click HERE

.

.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.

.

Westgold Resources (ASX | TSX: WGX)

Reported record results for the period ending 31 March 2025 (Q3 FY25).

Gold production in Q3 FY25 of 80,107oz Au @ AISC of A$2,829/oz, consistent with the Q2 FY25 production of 80,886oz Au @ A$2,703/oz Gold sales of 78,398oz at an average price of A$4,630/oz, generating revenue of A$363M.

.

Gold in drill core from Beta Hunt mine, Western Australia. – Credits Karora Resources

.

.

.

Westgold Report Results For The Period Ending 31 March 2025

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Record quarterly operational cash build

Perth, Western Australia, 30 April 2025 Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) is pleased to report results for the period ending 31 March 2025 (Q3 FY25).

HIGHLIGHTS

OPERATIONS

Gold production in Q3 FY25 of 80,107oz Au @ AISC of A$2,829/oz, consistent with the Q2 FY25 production of 80,886oz Au @ A$2,703/oz Gold sales of 78,398oz at an average price of A$4,630/oz, generating revenue of A$363M

DRILLING

Exciting drilling results returned at Fletcher, Bluebird-South Junction and Nightfall -continue to demonstrate the quality of these assets.

CORPORATE

Divestment of non-core Lakewood mill for $85M completed – comprising $70M in cash and $15M in Black Cat Syndicate (ASX:BC8) scrip.

FINANCE

Closing cash, bullion, and liquid investments @ 31 March 2025
of $232M, an $80M increase Q on Q, comprising:
■ Cash build of $107M from operations – before investing $74M
in growth and exploration
■ Additional $22M from corporate activities – comprising $25M
in proceeds from Lakewood divestment offset by a $3M
investment in ASX: NMG equity
■ $11M increase in bullion – with a $13M increase in liquid
investments

Westgold remains 100% unhedged – offering full exposure to escalating gold price

Westgold remains on track to deliver FY25 production and cost guidance

——-

Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold continues to reconfigure the larger portfolio to be more productive and to boost free cash flows into FY26. It has taken two quarters in FY25 to stabilise the larger business and in Q3 we delivered a record $80M build in cash, bullion and liquid investments.

 

“Strong treasury management is key to delivering our growth strategy. Being unhedged and with our growing cash balance and $250M in our undrawn corporate facility, Westgold has available liquidity of ~$480M – a solid foundation from which to execute our growth plans.

 

“As expected, production and cost results in Q3 FY25 were in line with in Q2 FY25 results. These will improve in Q4 FY25 with mining outputs improve at the Bluebird South-Junction mine and the infrastructure upgrades at the Beta Hunt mine due to complete mid-2025.

 

“Production from the Southern Goldfields continues to increase due to improved head grade and recovery rates achieved for the quarter. Beta Hunt mine infrastructure upgrades continue with key projects expected to be complete during Q4, FY25.

 

“In the Murchison, the slower than planned ramp up of Bluebird-South Junction required higher tonnages of low-grade stocks to be hauled to and processed at Meekatharra. This escalated the Murchison costs this quarter and with mining expected to commence in South Junction during Q4, FY25 costs should reduce.

 

“With a view to lowering our costs in the Southern Goldfields, Westgold divested the non-core and high-cost Lakewood Mill near Kalgoorlie for $70M in cash and $15M in scrip. The sale simplifies our Southern Goldfields business and from April sees all Beta Hunt ore being processed at the larger, lower cost Higginsville processing plant.

 

“Optimisation of this plant is the next step, with a scoping study evaluating the expansion of the 1.6Mtpa Higginsville to 2.6Mtpa showcasing the value modest capital investment could deliver.

 

“Drilling creates long term value in the portfolio and Westgold continues to invest in drilling. Results at the Nightfall Lode at Fortnum, Bluebird-South Junction and the Fletcher Zone at Beta Hunt, continue to show the quality of the mineral endowment we control and I encourage you to peruse our quarterly exploration report released today for more details.

 

“After two quarters of integration, Q3 FY25 has delivered record quarter on quarter cash build for Westgold.

 

 

“Westgold is well funded and continues to focus on lifting our mine outputs and optimising our largest mines and mills for greater free cash flow and expanded margins into FY26.”

.

——-

To read the full news release please click HERE

.

.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.

.

Mining Review 23rd February 2025

Calibre Mining announced record gold production and looked forward to commencing production at their Valentine mine this year.

Westgold issued a drilling update for the Beta Hunt mine in Western Australia.

.

Calibre Mining  –  The Valentine Mine in Newfoundland nears completion.

City Investors Circle Mining Review 23rd February 2025

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——-

..

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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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

——-

Other news releases from companies on our watchlists were

Westgold responded to press speculation

.

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

,

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).

.
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

.
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.”

.

To read the full news release please click HERE

.

.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.

.

Mining Review 26th January 2025

Westgold increased production in Q2 2025.  

Gold Road Resources, West Red Lake Gold Mines, and Wesdome made positive news announcements

Catalyst Metals

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City Investors Circle Mining Review 26th January 2025

.

Westgold increased production in Q2 2025, but the AISC of A$2,725 look very high to me. Luckily the current gold price in Australian dollar is A$4,390, so still a healthy margin, but the market has taken note of the high AISC.

Capricorn Metals acquired the Deadman Flat gold project that adjoins their Karlawinda gold project, consolidating the area, which clearly makes sense. Better to acquire early rather than have to pay more later, and perhaps have competition. I expect the same to happen to BPM Minerals if they succeed at Mt. Gibson, Capricorn’s other gold project.

Gold Road Resources, West Red Lake Gold Mines, and Wesdome made positive news announcements.

——-

rchives

——-

Other news releases from companies on our watchlists were

Ora Banda Mining sees a major shareholder lower their stake

Zacks select Orla Mining for outstanding growth in 2025

RBC Capital maintains its buy rating for Orla Mining

G Mining interview with VP IR at Metals Investor Forum

G Mining Ventures price target raised at CIBC

.

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.

.

.DDeclaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

Westgold Resources (ASX / TSX: WGX )

Reported results for the period ending 31 December 2024 (Q2 FY25).

Westgold had record gold production in Q2 FY25 of 80,886oz Au @ AISC of A$2,703/oz with increased net mine cashflow of $45M funding the Company’s operational and growth capital requirements.

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.

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CORPORATE

“Q2, FY25 was the first full quarter of Westgold stewardship of the Southern Goldfields assets.

 

“Outputs continue to lift with a record group gold production of 80,886oz – increasing net mine cash flows to $45M and funding the Company’s operational and growth capital requirements. Westgold also drew down $50M from the corporate facility during the period to balance the working capital requirements of our much larger business.

 

“The FY25 strategy is to systematically reconfigure the larger portfolio to generate higher levels of free cashflow with capital investment in critical mine infrastructure at Beta Hunt and Bluebird-South Junction, and resource development drilling key to achieving this.

 

“In the Southern Goldfields we have rapidly demonstrated the ability to lift mine outputs. We are investing for the next decade of operations at Beta Hunt with the key enablers to higher mine productivity including a clean mine water supply, upgrades to underground pumping, power, ventilation and facilities for our workforce. All of these projects are underway and on completion will set this mine up to consistently deliver >2Mtpa run rates during 2025.

 

“In the Murchison, we are steadily expanding the Bluebird-South Junction mine to lift outputs to 1-1.5Mtpa run rates in 2025, ultimately sustaining the Bluebird mill from a single source. A change in ground support methodology to support the expansion and transition to a larger transverse open stoping mining method slowed the progress of this ramp up in Q2, and with those changes now implemented, Bluebird-South Junction mine output is increasing again.

 

“Seventeen drill rigs are operational today. At South Junction, intersections such as 68.00m at 5.48g/t Au and 45.00m at 4.18g/t Au highlight the quality and thickness of the mineral endowment. At the Fletcher Zone, five rigs are operational, with highly encouraging results including 6.6m at 41.84g/t and 24.6m at 6.9g/t Au building our confidence in a third mining front.

 

Building a simpler, yet larger scale and more profitable business requires investment and time.

 

Six months on post-merger, Westgold now has the portfolio that can deliver increased levels of free cash flow. Our capital investments are focussed on higher mine productivity and lowering our all in sustaining costs with the Group’s Q4, FY25 exit run rate the measure of our success.”

.

.

To read the full news release please click HERE

.

.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.

.

Mining Review 19th January 2025

Orla Mining announced results that beat the improved guidance for the year by 19%.

Westgold is set to increase production in Q1. Meeka Metals announced a high-grade gold dicovery at Turnberry, Murchison.

Archives

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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.

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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.

.

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.” 

.

To read the full news release please click HERE

.

.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)

Advised it has executed a gold ore purchase agreement between its subsidiary, Big Bell Gold Operations Pty Ltd, and Zeus Mining Pty Ltd, an entity owned by New Murchison Gold Limited (ASX: NMG).

Under the terms of the OPA, Westgold has agreed to purchase between 30,000 and 50,000 tonnes of gold ore per month from NMG’s planned open pit operation at Crown Prince.

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Westgold Announce Crown Prince Ore to Increase Production at Meekatharra

Perth, Western Australia, 12 December 2024: Westgold Resources Limited (ASX/ TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to advise it has executed a gold ore purchase agreement (OPA or Agreement) between its subsidiary, Big Bell Gold Operations Pty Ltd, and Zeus Mining Pty Ltd, an entity owned by New Murchison Gold Limited (ASX: NMG).

The OPA remains subject to NMG shareholder approval as Westgold owns 18.7% of NMG and is therefore deemed a related party under the ASX Listing Rules. NMG will seek the requisite approval from its shareholders at a general meeting which will be called in January/February 2025.

Crown Prince, which is located 33kms by road from Westgold’s 1.6-1.8Mtpa Bluebird processing plant, has a current JORC (2012) Indicated and Inferred Mineral Resource of 2.21Mt @ 3.9g/t Au for 279Koz Au (refer NMG ASX Release of 28 November 2024 for details).

Under the terms of the OPA, Westgold has agreed to purchase between 30,000 and 50,000 tonnes of gold ore per month from NMG’s planned open pit operation at Crown Prince.

Subject to final regulatory permitting, NMG are targeting the commencement of open pit mining, and hence the OPA, in mid-2025. It is envisaged that most of the Crown Prince ore will be processed in the first two years of the Agreement (being FY26 and FY27), with potential ongoing terms to be agreed on a rolling, quarter-by-quarter basis following the two-year initial term.

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Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold is delighted to have achieved a mutually beneficial outcome for both the New Murchison Gold and Westgold shareholders.

 

“This type of commercial arrangement is capital efficient for both companies as it leverages the existing processing infrastructure Westgold has at Meekatharra.

“The introduction of softer oxide ore from Crown Prince in FY26 effectively increases throughput at the Westgold’s Bluebird plant – growing production and reducing our cost per ounce.

 

“At the same time, NMG realise value for its shareholders by unlocking a pathway to production for its Crown Prince deposit without the capital impost and execution risk of building a processing plant.

 

“As such this is a win-win for all shareholders and Westgold looks forward to working with New Murchison Gold in the development of the Crown Prince deposit.”

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To read the full news release please click HERE

.

.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.

.