Westgold outlines ambitious growth, aims for 470koz annual gold production

Westgold Resources Limited announced an amended 3-Year Outlook, forecasting a substantial increase in annual gold production to over 470koz by FY28, up from 326koz in FY25. All-In Sustaining Costs (AISC) are expected to fall to circa A$2,500/oz by FY28. This growth is underpinned by the company's 2025 Ore Reserves of 56 Mt at 1.93 g/t Au for 3.5Moz of gold, and will be funded through balance sheet strength and forecast cash flow, with growth capital peaking in FY27.

The plan involves fully utilizing and expanding Westgold's existing ~6Mtpa processing capacity across four hubs (Meekatharra, Higginsville, Cue, and Fortnum), increasing high-grade mine outputs, and reducing reliance on lower-grade stockpiles. The Higginsville mill capacity is slated to expand from 1.6Mtpa to 2.6Mtpa by FY28, with construction commencing in FY27. The Meekatharra hub will see its milling capacity increase to 2Mtpa in FY28.

Key drivers include the expansion of the Bluebird-South Junction underground mine to 1.2Mtpa by FY28, Great Fingall ramping up to 0.6Mtpa by FY28, and Beta Hunt infrastructure upgrades supporting a 2Mtpa run rate by H2 FY26. The outlook focuses on organic growth from existing assets.