Westgold's transformational year: record gold output, revenue surge after merger

Westgold Resources Limited announced a transformational year, achieving record gold production of 326,384oz at an All-In Sustaining Cost (AISC) of A$2,666/oz for FY25. This significant increase was driven by the merger with Karora Resources Inc. in August 2024, which expanded Westgold's portfolio across the Murchison and Southern Goldfields. The company's financial performance reflects this growth, with consolidated revenue increasing by 90% to A$1,360 million and net cash from operations rising to A$357 million.

The merger integrated Karora's Beta Hunt and Two Boys underground mines and the Higginsville processing hub into Westgold’s operations. The company also divested the non-core Lakewood mill for A$85 million, retaining priority toll-treating access, to focus on larger, lower-cost assets. This strategic consolidation resulted in an expanded landholding of approximately 3,200km² and a strengthened balance sheet, closing the year with A$364 million in cash, bullion, and liquid investments.

Exploration and resource development remained a key focus, with A$43 million invested in FY25, leading to a 24% increase in Mineral Resources to 16.3 Moz and a 5% increase in Ore Reserves to 3.5 Moz. Westgold remains unhedged, providing full exposure to the record-high Australian gold price. The company also proposed a final unfranked dividend of 3 cents per share for FY25.