Westgold Delivers Top End of Production Guidance
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
5 July 2023
WESTGOLD DELIVERS TOP END OF FY23 PRODUCTION GUIDANCE
Q4 Cash, Bullion and Liquid Assets Increase $24M
Westgold Resources Limited (ASX: WGX) (Westgold or the Company) is pleased to advise that the Company has
achieved the top end of full financial year (FY23) production guidance 1 of 257,116 oz of gold and continues to
generate free cash flow from its operations in Q4.
Highlights
Top end of full year Group production of 257,116 oz (guidance 240,000-260,000 oz)
Full year Group all in sustaining cost (AISC) expected to be mid-range of guidance ($1,900/oz – $2,100/oz)
Q4 production of 68,377 oz – with record ounce output from the Bluebird mill at Meekatharra
Q4 increase in cash, bullion, and liquid assets of $24M (Q3 $9M)
FY23 closing cash, bullion and liquid assets increased to $192M (FY22 closing position - $190M)
Westgold Managing Director Wayne Bramwell commented:
“Westgold has delivered safe and profitable ounces for its shareholders in FY23.
Over the last 12 months we have improved our operational discipline, built balance sheet strength, and
invested in our future through exploration and resource development. This turnaround is evidenced by two
consecutive quarters of cash flow generation.
Westgold commences FY24 debt free and can internally fund organic growth opportunities such as the
expansion of Big Bell and commencement of the iconic Great Fingall underground mine. Importantly our
fixed forward hedges are complete in July and the Company will be fully leveraged to the gold price from
August, further enhancing our profitability in FY24.”
THIS ANNOUNCEMENT IS AUTHORISED FOR RELEASE TO THE ASX BY THE BOARD.
INVESTOR RELATIONS
MEDIA AND INVESTOR RELATIONS ENQUIRIES
Kasun Liyanaarachchi| Investor Relations Manager
Investor.Relations@westgold.com.au
+61 458 564 483
MEDIA
Peter Knight | Communications Advisor
Peter.Knight@westgold.com.au
+61 459 980 481
1 ASX Announcement - Production Guidance, 26 August 2022
Westgold Resources Limited (ASX: WGX)
ACN 009 260 306
Level 6, 200 St Georges Terrace, Perth WA 6000
+61 8 9462 3400
perth.reception@westgold.com.au
www.westgold.com.au
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