Westgold Resources (WGX) Q1 2027 earnings summary

Executive summary

• Q1 FY27 production was 98,393 oz at AISC of $2,912/oz, with FY27 production and cost guidance on track.

• Cash, bullion and liquid investments rose $101M to $1,040M; underlying treasury build was $251M.

• Ore Reserves increased 41% to 4.1 Moz; the growth plan targets 460,000–510,000 oz in FY29, with Fletcher potential beyond 600,000 ozpa.

Financial highlights

• Gold sales were 99,900 oz for $602M revenue at an achieved price of $6,029/oz.

• AISC was $2,912/oz, below FY27 guidance of $2,980–$3,380/oz; AISC margin was $3,117/oz.

• Mine operating cash flow was $292M and net mine cash flow was $157M.

• Q1 non-sustaining capital was $111M and exploration/resource-definition spend was $24M; FY27 guidance is $450M–$480M and $50M–$75M, respectively.

• Q1 AISC increased from $2,802/oz in Q4 due to open-pit waste movement, planned maintenance, annual labour increases and Lakewood toll milling.

Outlook and guidance

• FY27 guidance remains 385,000–425,000 oz at AISC of $2,980–$3,380/oz.

• FY28 production outlook is 425,000–470,000 oz at AISC of $3,000–$3,400/oz; FY29 outlook is 460,000–510,000 oz at $2,640–$3,000/oz.

• Processing capacity is expected to rise from 5.7 Mtpa to more than 7 Mtpa by FY29 through Cue and Meekatharra expansions.

• Cue expansion targets commissioning in FY27 and capacity of 1.7 Mtpa from FY28; Meekatharra expansion targets commissioning in FY28 and capacity of 2.9 Mtpa.

• FY27 non-sustaining capital guidance is $450M–$480M; exploration and resource-definition guidance is $50M–$75M.