Western Gold Resources (WGR) H2 2025 earnings summary

Executive summary

• Advanced Gold Duke Project towards production, securing a 24-month toll milling agreement with Wiluna Mining Corporation, and completed key exploration and permitting milestones.

• Divested four Swedish assets for CAD $180,000 and a 2% NSR royalty, focusing resources on core Australian projects.

• Updated Scoping Study for Gold Duke Project, reflecting higher gold prices and improved project economics.

Financial highlights

• Net loss for the year ended 30 June 2025 was $2,496,028, an improvement from the prior year's net loss of $3,107,436.

• Total revenue for the year was $66,639, primarily from interest and other income.

• Cash and cash equivalents at year-end were $608,396, down from $751,317 at the previous year-end.

• Net assets increased to $1,380,162 from $1,327,889 year-over-year.

• Exploration and evaluation expenditure for the year was $1,269,869.

Outlook and guidance

• Gold Duke Project is positioned for near-term production, with grade control and infill drilling underway and further resource growth targeted.

• Secured a $3 million, 12-month loan facility post year-end to fund ongoing project development and drilling.

• Updated Scoping Study underway to reflect strengthened gold prices and revised project economics.