Western Gold Resources (WGR) H2 2026 earnings summary

Executive summary

• Advanced the Gold Duke Project with extensive drilling, updated Mineral Resource Estimate, and an Expanded Scoping Study, increasing project scale and confidence in mine planning.

• Secured key mining approvals, appointed a mining contractor, and developed site infrastructure and water supply.

• Extended Toll Milling Agreement, but Wiluna plant breakdown led to evaluation of alternative processing pathways.

• Continued engagement with native title holders and completed required heritage surveys for Stage 1 mining.

• Limited exploration in Sweden; discussions ongoing for potential asset divestment.

Financial highlights

• Net loss for the year ended 30 June 2026 was $8,965,120, compared to $2,496,028 in 2025.

• Exploration and evaluation expenditures increased to $5,764,456 from $1,269,869 year-over-year.

• Net assets at year-end were $475,477, down from $1,380,162 in 2025.

• Cash and cash equivalents rose to $2,863,380 from $608,396 year-over-year.

• Share-based payment expense of $502,671 recognized; net credit of $58,329 after reversals.

Outlook and guidance

• Focus remains on finalizing development requirements and establishing a pathway to production at Gold Duke.

• Ongoing evaluation of alternative processing solutions and continued mine planning.

• Continued engagement with heritage and native title stakeholders to enable mining commencement.