Westgold Resources builds cash reserve to $1.04B

Full story: https://grafa.com/en/news/australia/westgold-resources-builds-cash-reserve-to-1-04b

Westgold Resources recorded first-quarter FY27 gold production of 98.4 thousand ounces with an all-in sustaining cost of $2,912 per ounce.
Cash, bullion, and liquid investments increased by $101 million to $1.04 billion while maintaining zero debt.
The business remains on track to achieve full-year FY27 guidance of 385 to 425 thousand ounces.

Westgold Resources (ASX:WGX) reported first-quarter FY27 gold production of 98.4 thousand ounces while expanding its underlying cash, bullion, and liquid investment reserves by $101 million to reach $1.04 billion.

This performance follows gold production of 98.9 thousand ounces in the prior quarter, during which all-in sustaining costs rose from $2,802 per ounce to $2,912 per ounce.

"Legacy ventilation issues at Beta Hunt resolved with the installation of an interim primary ventilation system," the company said in a statement.

During the quarter, the gold miner spent $111 million on non-sustaining capital, allocated $24 million to exploration and resource definition, and returned $20 million through share buy-backs.

Following the announcement, the Westgold Resources share price was down at $4.97.

The business stated that group ore reserves increased by 41% to 4.1 million ounces after accounting for depletion and asset sales.

The company stated that its updated three-year outlook underpins a growth strategy targeting annual production of approximately 500 thousand ounces by FY29.

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$1.04B","html":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ac7c10377f26eb53f8416e38ae221dd9\" tg-width=\"1456\" tg-height=\"816\"></p>\n<p>Full story: https://grafa.com/en/news/australia/westgold-resources-builds-cash-reserve-to-1-04b</p>\n<ul>\n <li>\n  <p>Westgold Resources recorded first-quarter FY27 gold production of 98.4 thousand ounces with an all-in sustaining cost of $2,912 per ounce.</p></li>\n <li>\n  <p>Cash, bullion, and liquid investments increased by $101 million to $1.04 billion while maintaining zero debt.</p></li>\n <li>\n  <p>The business remains on track to achieve full-year FY27 guidance of 385 to 425 thousand ounces.</p></li>\n</ul>\n<p style=\"text-align: start;\">Westgold Resources (ASX:WGX) reported first-quarter FY27 gold production of 98.4 thousand ounces while expanding its underlying cash, bullion, and liquid investment reserves by $101 million to reach $1.04 billion.</p>\n<p style=\"text-align: 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and liquid investment reserves by $101 million to reach $1.04 billion.</p>\n<p style=\"text-align: start;\">This performance follows gold production of 98.9 thousand ounces in the prior quarter, during which all-in sustaining costs rose from $2,802 per ounce to $2,912 per ounce.</p>\n<p style=\"text-align: start;\">\"Legacy ventilation issues at Beta Hunt resolved with the installation of an interim primary ventilation system,\" the company said in a statement.</p>\n<p style=\"text-align: start;\">During the quarter, the gold miner spent $111 million on non-sustaining capital, allocated $24 million to exploration and resource definition, and returned $20 million through share buy-backs.</p>\n<p style=\"text-align: start;\">Following the announcement, the Westgold Resources share price was down at $4.97.</p>\n<p style=\"text-align: start;\">The business stated that group ore reserves increased by 41% to 4.1 million ounces after accounting for depletion and asset sales.</p>\n<p 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Cash, bullion, and liquid investments increased by $101 million to $1.04 billion while maintaining zero debt. The business remains on track to achieve full-year FY27 guidance of 385 to 425 thousand ounces. Westgold Resources (ASX:WGX) reported first-quarter FY27 gold production of 98.4 thousand ounces while expanding its underlying cash, bullion, and liquid investment reserves by $101 million to reach $1.04 billion. This performance follows gold production of 98.9 thousand ounces in the prior quarter, during which all-in sustaining costs rose from $2,802 per ounce to $2,912 per ounce. \"Legacy ventilation issues at Beta Hunt resolved with the installation of an interim primary ventilation system,\" the company said in a statement. During the quarter, the gold miner spent $111 million on non-sustaining capital, allocated $24 million to exploration and resource definition, and returned $20 million through share buy-backs. Following the announcement, the Westgold Resources share price was down at $4.97. The business stated that group ore reserves increased by 41% to 4.1 million ounces after accounting for depletion and asset sales. 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