Westgold Resources (WGX) Q3 2026 earnings summary

Executive summary

• Q3 FY26 gold production was 93,145oz, with AISC at $2,931/oz (excluding OPA) and $3,338/oz (including OPA), and underlying cash build of $285M, closing treasury at $856M.

• Year-to-date production reached 288,500oz, with FY26 guidance reaffirmed at 345,000–385,000oz and a three-year outlook targeting 470,000oz by FY28.

• Treasury increased by $202M in Q3, with robust operational cash flow and margin expansion supported by strong gold prices.

• The business remains unhedged, fully exposed to gold price movements, and entered the ASX 100 during the quarter.

Financial highlights

• Net mine operating cash flow for Q3 was $348M, with $326M from mined production and $22M from third-party ore.

• Realized gold price reached a record $7,080/oz in Q3, supporting robust margins and net mine cash flow.

• Closing cash, bullion, and investments rose to $856M, with available liquidity of $1.45B including a $600M credit facility.

• Portfolio optimization and asset divestments delivered ~$140M immediate value and up to $30M deferred.

• Share buybacks totaled $3M in Q3, with up to 5% buyback program commenced in FY26.

Outlook and guidance

• FY26 production guidance maintained at 345,000–385,000oz, with AISC expected at the top end of $2,600–2,900/oz (excluding OPA) due to inflation and operational decisions.

• Three-year outlook targets 470,000oz gold production by FY28, with AISC projected to decrease to $2,456/oz.

• Higginsville Expansion Plan approved, increasing processing capacity by 62.5% and gold output by ~60kozpa from mid-FY28.

• Key growth assets, Bluebird South Junction and Beta Hunt, are on track to reach targeted run rates by year-end.