Westgold Resources expands financial capacity

Westgold Resources (ASX:WGX) has increased its Syndicated Facility Agreement to $300 million. The company added a $200 million facility with ING Bank (Australia) Limited and Societe Generale. This move aims to strengthen its balance sheet and support its growth strategy for FY25.

Westgold's strategic financial expansion

Westgold Resources has expanded its financial capacity by increasing its Syndicated Facility Agreement to $300 million. This includes a new $200 million facility funded equally by ING Bank (Australia) Limited and Societe Generale. The facility is intended for general corporate purposes and will be available until June 2025, with repayments starting in September 2025. Notably, it does not require mandatory gold hedging, aligning with Westgold's strategy to remain unhedged. This development is part of Westgold's ambition to enhance financial flexibility and support its growth strategy across Australia's gold regions.

Executive insights on Westgold's financial strategy

The increased facility provides Westgold with the financial agility needed to execute our growth strategy. The ongoing support from our lenders demonstrates their confidence in our vision and ability to create value from our assets.