Westgold Resources has released its preliminary production results for the second quarter of 2023-24.
Westgold produced 59,238oz of gold from its operations, achieving an average gold sale price of $3,041 per ounce.
The company’s cash, bullion and liquid assets increased by $21 million at the end of Q2 FY24, taking the group total to $238 million (up from $217 million in the first quarter).
Westgold has said that it remains debt free, unhedged and on track to deliver 2023-24 production guidance of 245,000-265,000oz.
Westgold Managing Director, Wayne Bramwell, said that this is the fourth consecutive quarter of positive cash build.
“In what was a challenging quarter, these results depict the inherent operational flexibility Westgold has within its portfolio of assets,” Mr Bramwell said.
“Weaker outputs from Paddy’s Flat at Meekatharra, our smallest mine, were offset by stronger outputs from the resurgent Starlight underground mine at Bryah.
“Even with intermittent COVID-19 cases affecting productivity across the group, our teams delivered.”
