Westgold Resources (WGX) Diggers & Dealers Mining Forum 2026 summary

Strategic direction and operational highlights

• Achieved record gold production of 387,000 ounces in FY26, exceeding guidance and marking a ~20% increase over FY25, with all-in sustaining cost (AISC) at AUD 2,841/oz.

• Treasury increased from AUD 575 million to AUD 939 million, supported by AUD 1.2 billion in capital investment, mainly in mine infrastructure and drilling.

• Maintains four profitable processing hubs in Western Australia, with a total capacity of ~5.7Mtpa and significant stockpiles.

• Southern Goldfields assets, acquired two years ago, have rapidly contributed to resource growth, notably at Beta Hunt and Higginsville.

• Strong balance sheet with over $1.5B in available liquidity and no debt as of June 2026.

Growth initiatives and asset development

• Cue hub processing plant to be expanded from 1.3–1.4 to 1.7 million tons per annum, with commissioning expected late FY27 and uplift from FY28.

• Bluebird-South Junction mine achieved a 1 million-ton per annum exit rate in June, with ongoing drilling expected to further increase resources.

• Beta Hunt saw a 2.3 million ounce resource addition within 12 months of acquisition, with a maiden reserve pending.

• Ongoing investment in drilling, with 22 rigs operating at the end of FY26.

• Conservative, fully self-funded plan targets 470koz gold production by FY28.

Resource management and project portfolio

• Ore Reserves stand at 3.5Moz as of June 2025, underpinned by ongoing drilling and exploration.

• Divested several projects (Mt Henry-Selene, Reedy and Comet, Peak Hill, Chalice) to streamline portfolio and focus on core assets.

• Group Reserves and Resources statement expected in Q1 FY27.

• Mineral Resource and Ore Reserve estimates prepared in accordance with JORC Code and NI 43-101 standards.

• Significant resource growth at Beta Hunt, with 2.3Moz added from Fletcher in under 12 months.