Westgold Resources (WGX) Q4 2026 earnings summary

Executive summary

• FY26 gold production reached 387,354 ounces, exceeding guidance and marking a ~20% increase year-over-year from FY25's 326,000 ounces, with Q4 output at 98,854 ounces.

• All-in sustaining cost (AISC) for FY26 was AUD 2,841/oz, within the guided range.

• Q4 underlying cash build was AUD 233 million, closing FY26 with AUD 939 million in cash, bullion, and liquid investments, up AUD 575 million year-over-year.

• Operational flexibility across four hubs enabled consistent group performance and record outputs at key mines, including record mining rates at Bluebird-South Junction and Big Bell.

• The company remains debt free, fully unhedged, and completed divestments of non-core assets, simplifying its portfolio.

Financial highlights

• Q4 gold sales exceeded 110,000 ounces at a realized price of AUD 6,391/oz, generating Q4 revenue of AUD 705 million.

• Q4 AISC was AUD 2,802/oz, down from AUD 2,931/oz in Q3; FY26 AISC was AUD 2,841/oz, within guidance.

• Net mine cash flows of AUD 159 million in Q4, with AUD 83 million added to cash, bullion, and liquid investments; FY26 net mine cashflow totaled AUD 811 million.

• Year-end treasury reached AUD 939 million; total available liquidity including undrawn credit facility is AUD 1.5 billion.

• AUD 142 million invested in non-sustaining capital and AUD 11 million in exploration during Q4; share buybacks totaled AUD 27 million in FY26.

Outlook and guidance

• FY27 guidance, updated three-year outlook, and dividend update to be released in August 2026.

• Organic growth plan targets gold production above 470,000 ounces, with ongoing investment in growth projects and infrastructure.

• Exploration spend to continue, focusing on resource growth and reserve conversion, especially at Beta Hunt and Bluebird-South Junction.

• Cost control, mill feed grade improvement, and productivity gains are key focus areas for FY27 to offset sector cost inflation.

• Dividend update expected following board review at month-end.