Westgold on track for guidance after production lift
Make us a preferred source
Make us a preferred source on Google
The news: Westgold Resources has reported a lift in production for the September quarter at its projects in Western Australia and reaffirmed its full-year guidance.
The numbers: The dual-listed gold miner produced 77,369 ounces of gold from its expanded portfolio, up from 52,795 ounces reported in the June quarter. It achieved an average sale price of $3,723 per ounce.
The company said it is on track for FY25 production guidance of 400,000 to 420,000 ounces, nearly double its 227,000 ounces output in FY24.
The context: Westgold increased production follows the completion of its takeover of Canada’s Karora Resources in August, for $1.2 billion, with the combined entity also listed on the Toronto stock exchange.
The company said it remains on-track to achieve full-year production guidance, with production back-ended in the second half of the financial year as Bluebird South-Junction expands to the 1.2 million tonnes per annum run rate, Beta Hunt reaches expected run rate of over 2 Mtpa and mining commences at Great Fingall.
What they said: “Q1 FY25 delivered our highest quarterly gold production yet, with the results only reflecting two months’ production from our Southern Goldfields operations,” Westgold chief executive Wayne Bramwell said.
The source: ASX announcement
