Westgold Resources shares lift on record quarterly production
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The news: Shares in Westgold Resources lifted in afternoon trade after the gold miner announced a production record in the fourth quarter of financial year 2025.
The numbers: At 2:49pm AEST, Westgold's share price had increased by 2.6% to $2.94.
Westgold reported quarterly records of 88 kilo ounces of gold production and a $132 million increase in cash, bullion and liquid investment holdings in Q4.
Full-year production also hit a record at 326,384 ounces at an all-in sustaining cost guidance of $2,666 per ounce. This was outside of the FY25 production guidance range of 330 and 2350 kilo ounces and the all-in sustaining cost guidance of between $2,400 to $2,600 per ounce.
The context: Westgold managing director and chief executive Wayne Bramwell said investment in drilling, mine infrastructure and fleet replacement “lifted the business during Q4, FY25”. Smaller mines, including Starlight and Two Boys, also played a “key supporting role”.
He said that trucking availability at the Beta Hunt mine and development delays at Bluebird-South Junction partly explained the full-year production guidance miss.
What they said: “FY25 was transformational for Westgold. The business has growing scale and with our capital investments lifting productivity, in FY26 we now have a portfolio we can leverage for enhanced cashflows,” Bramwell said.
The source: ASX
