Westgold Resources has closed out FY25 with a record-breaking quarter, delivering standout production and a sharp increase in cash reserves.
The cash, bullion, and liquid investments totalled $364 million with the company producing a record 88,022 ounces of gold in Q4 at an all-in sustaining cost (AISC) of $2,688 per ounce.
This result pushed full-year production to a new high of 326,384 ounces at an AISC of $2,666 per ounce – slightly below guidance of 330,000–350,000 ounces but still a standout performance.
Westgold managing director and CEO Wayne Bramwell said the group’s Q4 performance demonstrates the business’s increasing cash flow capability.
“Westgold’s Q4, FY25 results of 88koz of production and $132M in treasury build were group records,” he said.
“These results propelled the group to a full year production record of 326,384oz (at AISC of $2666oz) and closing cash, bullion and liquid investments of $364M – demonstrating the growing free cash flow capability of our business.”
Improvements in mine productivity and milling output were seen across all operations. While trucking constraints at Beta Hunt and development delays at Bluebird-South Junction impacted the annual target, June alone delivered 34,000 ounces – underscoring the portfolio’s potential.
Westgold also announced a maiden Mineral Resource Estimate of 2.3 million ounces at the Fletcher Zone within Beta Hunt. This was achieved from only one kilometre of the known 2-kilometre strike length, signalling significant upside for future growth.
“FY25 was transformational for Westgold,” Bramwell said. “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.”
Other key developments include the commencement of mining at Great Fingall Flats, a three-year mining contract awarded to Barminco, and the continued outperformance of smaller mines such as Starlight and Two Boys.
FY26 guidance will be released in August, followed by a three-year outlook in September once the company updates its Resource and Reserve base.
