Westgold Resources (WGX) Noosa Mining Conference 2026 summary

Capital management and shareholder returns

• Paid a fully franked interim dividend of AUD 0.03 and completed AUD 30 million in share buybacks, totaling over AUD 140 million, or 56% of the announced program.

• Plans to maintain returns in FY 2026 and FY 2027 at FY 2025 levels, with growth targeted from FY 2028 as expansion projects complete.

• Westgold returned AUD 10 million in dividends in FY 2024, AUD 28 million in FY 2025, and AUD 27 million in share buybacks in FY 2026, with further dividends to be reported in August.

Project development and operational progress

• Dalgaranga mining ramp-up is on track, with a paste plant set for September commissioning and an underground pump station already operational.

• Road upgrades enable daily hauling of 2,500 tons between Dalgaranga and Mount Magnet, with plans to seal the road this year.

• Mount Magnet camp expansion nearly doubles capacity to 500 rooms; major mill upgrade site works to begin this quarter.

• Hybrid power solution at Mount Magnet enhanced with new wind turbine foundations, rounding out a 46-MW system.

Exploration and resource growth

• Significant exploration upside identified at Mount Magnet, with a strategy to replace low-grade mill feed with high-grade ounces from FY 2028 to FY 2030.

• Extensions likely at Cue and Galaxy mines; Gilbey's underground shows strong promise and is not yet included in mine plans.

• Drilling at Lena and Break of Day targets depth extensions, with improved access expected after pit cutback completion.

• Galaxy mine life extended beyond FY 2030 due to extensive drilling; further strike length increases anticipated.

• Eridanus cutback at Mount Magnet to start in November, providing 18 million tons of lower grade feed over five years.

• High-grade drilling results at Franks Tower and ongoing success at Dalgaranga's Gilbey's and Never Never areas.

• Plan to convert nearly 600,000 oz at Gilbey's to reserves in the next 12 months; Rebecca-Roe underground potential being explored.