Westgold Resources' quarterly achievements

Westgold Resources (ASX:WGX) has announced its quarterly results for the period ending 30 September 2024. The company has completed a $1.4 billion merger with Karora Resources, elevating it into the ASX 200 and positioning it as a top five Australian gold producer. During the first quarter of FY25, Westgold reported record gold production of 77,369 ounces at an all-in sustaining cost (AISC) of $2,422 per ounce, generating a net mine cash flow of $29 million.

Westgold Resources' strategic outlook

Westgold Resources has positioned itself as a leading gold producer in Australia following a significant merger with Karora Resources. The merger, which required no capital raise or debt drawdown, allows the company to remain unhedged and debt-free. Westgold is focusing on integrating operations in the Southern Goldfields and improving mine outputs. The company's strong landholding and increased mineral resources underscore its potential for growth. With a target of producing 400,000 to 420,000 ounces in FY25, Westgold is on track to enhance its production capabilities and shareholder value, all while maintaining a robust cash position of $103 million.

Executive commentary on Westgold's performance

The merger with Karora Resources has been a transformative step for Westgold, providing significant growth in scale and operational capacity. Our record production this quarter demonstrates our ability to deliver on our strategic goals. We are committed to maintaining our momentum and achieving our FY25 production guidance.