Westgold reaps record post-merger results

Westgold Resources (ASX: WGX) produced a record 77,369oz of gold from its expanded portfolio, achieving an average sale price of $3,723/oz for Q1 FY25.

The Q1 FY25 result is based on three months of production from the Murchison (52,889oz) operations, but only two months of production from the Southern Goldfields operations (24,480oz).

This follows the company’s move to increase FY25 production guidance to 400,000-420,000oz, a substantial increase from its 220,000-235,000oz FY24 guidance.

Westgold managing director and chief executive Wayne Bramwell says Q1 FY25 delivered the company’s highest quarterly gold production yet.

“In August Westgold successfully completed a $1.4b merger that created a top five ASX and top 10 TSX listed gold producer and propelled the company into the ranks of the ASX200,” he said.

“Westgold remains on-track to achieve our stated full-year production guidance, with production back-ended in the second half of the financial year as Bluebird South-Junction expands to the 1.2mtpa run rate, Beta Hunt reaches expected run rate of greater than 2mtpa and mining commences at Great Fingall.

“We look forward to delivering more quarterly production records and cash-build as we optimise, then expand our extended portfolio of assets in two of Australia’s most prolific gold-producing regions.”