Westgold Resources (WGX) H2 2025 earnings summary

Executive summary

• Achieved record Q4 production of 88,000 oz and full-year output of 326,000 oz, up 112,000 oz year-over-year, reflecting strong momentum and successful integration of acquired assets.

• Southern Goldfields operations have become more efficient, driving higher output and cash flows, while the Murchison region is ramping up more slowly.

• Strategic focus is on becoming a leading Australian gold producer, with a conservative FY 2026 production guidance midpoint of 370,000–380,000 oz and a multi-year plan to be released in September.

Financial highlights

• Record production in June quarter and full year, with significant year-over-year growth following asset integration.

• Consistent increases in throughput, grade, and recovery at Higginsville mill post-merger.

• Missed lower end of FY 2025 guidance by 1% due to trucking issues and development delays at Beta Hunt.

Outlook and guidance

• FY 2026 production guidance set at 370,000–380,000 oz, considered conservative.

• Multi-year outlook and updated resource/reserve statement to be released in September.

• All-in sustaining cost (AISC) guidance for FY 2026 is A$2,600–A$2,900/oz, reflecting ongoing inflationary pressures.