Appendix 4D
Released
Released
Announcement PDF
ASX Announcement
14 February 2025
APPENDIX 4D - RESULTS FOR ANNOUNCEMENT TO THE ASX
Perth, Western Australia14 February 2025: Westgold Resources Limited (ASX | TSX: WGX – Westgold or
the Company) is pleased to present this Appendix 4D which is to be read in conjunction with the 2024
Annual Financial Report, the 31 December 2024 Half-year Financial Report and Directors’ Report.
DIVIDEND INFORMATION
During the period a fully franked dividend of 1.25 cents per share was declared and paid.
CONSOLIDATED RESULTS
Consolidated
Revenue
Cost of sales
Profit before tax attributable to
members
Net (loss)/profit attributable to
members
Cash inflow from operating activities
Cash outflow used in investing activities
Cash inflow/(outflow) used in financing
activities
Cash costs per ounce
All-in sustaining costs per ounce
Gold produced
Consolidated
Assets
Liabilities
Net Assets
Cash and cash equivalents
Financial assets at fair value through
profit and loss
Net tangible assets per share 1
31 December
2024
$623,951,939
($497,711,270)
31 December
2023
$363,098,988
($291,032,565)
Movement
$
$260,852,951
($206,678,705)
Movement
%
72%
71%
$4,626,902
$64,302,636
($59,675,734)
(93%)
($27,561,171)
$125,365,722
($256,677,758)
$43,788,666
$161,237,951
($102,824,764)
($71,349,837)
($35,872,229)
($153,852,994)
(163%)
(22%)
150%
$18,194,567
$2,311
$2,562
158,255 oz
31 December
2024
$2,948,684,578
$1,040,739,367
$1,907,945,211
$122,815,208
($10,251,738)
$1,767
$2,093
122,342 oz
30 June
2024
$1,052,499,899
$360,698,793
$691,801,106
$236,039,162
$28,446,305
$544
$468
35,913 oz
Movement
$
$1,896,184,679
$680,040,574
$1,216,144,105
($113,223,954)
(277%)
31%
22%
29%
Movement
%
180%
189%
176%
(48%)
$12,193,522
$8,010,952
$4,182,570
52%
$2.03
$1.46
$0.57
39%
Net tangible assets include right-of-use assets.
ANALYSIS OF CONSOLIDATED RESULTS
Revenue: Reflects the increase in the achieved gold price to $3,910/oz compared to $2,963/oz in the
comparative period and the acquisition of Karora Resources Inc. (“Karora”), with the transaction being
effective on 1 August 2024. This resulted in five months’ worth of gold sales during the period from the
Southern Goldfields, which was not the case for the prior period.
Cost of sales: The increase was a result of the acquisition of Karora and the new enlarged Westgold Group,
with gold produced increasing by 35,913oz.
All-in sustaining cost per ounce: The increase of $468/oz was mainly attributable to the lower than
anticipated production from Bluebird-South Junction and Beta Hunt combined with the impact of the new
enlarged Westgold Group including five months of Southern Goldfields operating costs.
Westgold Resources Limited
ABN 60 009 260 306
ASX | TSX: WGX
T: +61 8 9462 3400
E: perth.reception@westgold.com.au
W: westgold.com.au
Level 6, 200 St Georges Terrace
Perth WA 6000
PO Box 7068, Cloisters Square WA 6850
Assets: the increase is mainly a result of the acquisition of Karora and the new enlarged Westgold Group.
Cash and cash equivalents: The decrease in cash and cash equivalents was predominantly driven by the
cash payments made in relation to the acquisition offset by the higher achieved gold price.
CHANGES IN CONTROLLED ENTITIES
During the period, Westgold Personnel Pty Ltd was incorporated on 7 November 2024.
In addition, as part of the acquisition of Karora, the below subsidiaries became part of the Westgold Group.
Name of Subsidiary
Beneficial Ownership
Karora Resources Inc.
100%
Karora (Beta Hunt) Pty Ltd.
100%
Karora (Higginsville) Pty Ltd.
100%
Karora (Lakewood) Pty Ltd.
100%
Avoca Resources Pty Ltd.
100%
Corona Minerals Pty Ltd.
100%
Hill 51 Pty Ltd.
100%
Karora Australia Pty Ltd.
100%
Karora Resources Pty Ltd.
100%
Polar Metals Pty Ltd.
100%
Red Hill Gold USA Corp.
100%
VMS Ventures Inc. (Dissolved 20 December 2024)
100%
25657171 Ontario Inc. (Dissolved 19 December 2024)
100%
This announcement is authorised for release to the ASX by the Board.
Investor and media relations enquiries
Investor Relations
Kasun Liyanaarachchi | Investor Relations Manager
investor.relations@westgold.com.au
+61 458 564 483
Appendix 4D – Results for Announcement to the ASX
14 February 2025
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