Westgold's FY26 was a year of doing what we said we'd do. We produced a record 387,354 ounces of gold, ahead of the top end of our guidance, at an all-in sustaining cost of $2,841 per ounce, within the range we set out at the start of the year. Revenue grew to $2,441 million and net profit after tax lifted to $443 million.

The balance sheet is the standout. We finished the year debt free, fully unhedged, and with $939 million in cash, bullion and liquid investments, an increase of $575 million over the year. In March 2026 we also put in place a new $600 million unsecured debt facility, which remained undrawn at year end, giving us $1.5 billion in available capacity.

We simplified the portfolio this year, spinning out our Reedy and Comet assets into the newly listed Valiant Gold while keeping a shareholding, and selling three other non-core projects. Together these moves brought forward more than $200 million in value while keeping some exposure to their future upside. We also continued an on-market share buyback and, after year end, declared a record final dividend of 10 cents per share.

Growth remains organic and self-funded. Our Ore Reserves grew to more than 4 million ounces, roughly 10 years of production at current processing rates, and exploration at Beta Hunt's Fletcher zone delivered a maiden 1.1 million ounce Ore Reserve. Subsequent to year end we announced expansion studies at our Cue and Meekatharra hubs, aimed at lifting production from 385,000-425,000 ounces in FY27 to 460,000-510,000 ounces in FY29. These plans are subject to further feasibility work, Board approval and final investment decisions.

It wasn't all upside: we set a higher bar for safety incident reporting this year, which shows up as a weaker short-term safety result, and we didn't meet our total recordable injury frequency rate target.

If you have questions about this announcement, we'd encourage you to use the question box on this page.

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