Westgold Resources (WGX) Diggers & Dealers Mining Forum 2025 summary

Financial and Operational Highlights

• Achieved record FY25 gold production of 326,384 ounces at an AISC of $2,666/oz, with Q4 output of 88,022 ounces and June production of 34,000 ounces.

• Built a record quarterly treasury of $132 million, closing FY25 with $364 million in cash, bullion, and liquid investments, and generated strong free cash flow.

• Remained unhedged, providing full exposure to gold price upside and underpinning financial strength.

• Focused on increasing operating margins through higher grade mine outputs and reduced low-grade stockpile processing.

• Outperformed peer group average share price movement through consistent operational delivery.

Growth Projects and Asset Development

• Advanced Bluebird–South Junction, Beta Hunt, and Great Fingall as key growth assets, with major infrastructure and development underway.

• Bluebird–South Junction mine expanded, now with a five to six-year mine life and seen as a multi-decade asset, with majority of FY26 plan already grade control drilled.

• Great Fingall mine commenced mining, with first ore from virgin stopes and delivery to Bluebird mill expected in Q2 FY26.

• Beta Hunt infrastructure upgrades to expand output above 2Mtpa, with commissioning in August 2025; Fletcher zone maiden resource of 2.3 million ounces announced.

• Ongoing expansion and drilling at multiple long-life mines in the Murchison and Southern Goldfields.

Strategic Initiatives and Partnerships

• Leveraged regional partnerships, including divestment of the Lakewood plant and new ore delivery from New Murchison Gold’s Crown Prince pit to Bluebird mill.

• Debottlenecked and planned expansion of Higginsville mill to support Southern Goldfields growth.

• Continued rationalisation of tenure and divestment of non-core assets to focus on core portfolio.

• Ongoing drilling investment, with $47 million spent last year and 17 underground drill rigs active, nearly half at Beta Hunt.

• Open to further regional collaborations that create win-win outcomes for stakeholders.