Preliminary Production Results for Q3, FY24

Westgold Resources Limited (ASX: $WGX) has reported preliminary production results for Q3, FY24, with the company adding $9 million to its cash and bullion, bringing the total to $247 million at the end of the quarter. Despite operational challenges and inclement weather impacting production, the company remains focused on recovering lost ounces in FY24.

Executive Commentary on Q3, FY24 Results

Westgold Managing Director and CEO Wayne Bramwell stated, 'Westgold has now delivered five consecutive quarters of cash build, adding $9M to our treasury in a very trying quarter. Several factors negatively impacted our physical outputs but corporately our prime driver is free cash flow - not maximising total production at all costs. We remain focused on recovering lost ounces in FY24 but remain unremorseful in pausing mines that cannot deliver the returns our shareholders expect.'

Summary of Q3, FY24 Results

Westgold Resources Limited (ASX: $WGX) reported a $9 million increase in cash and bullion in Q3, FY24, bringing the total to $247 million. The company revised its full year FY24 production guidance to 220,000 - 230,000 ounces at an all-in sustaining cost of $2,100 - 2,300/oz due to operational challenges. Westgold remains focused on recovering lost ounces in FY24 and is evaluating the early mining of shallow flat structures at Great Fingall with a view to commence mining in Q1, FY25. The full Q3, FY24 operational and financial details will be provided in the Quarterly Report to be released on Wednesday 24 April 2024.