Westgold will simplify the business and test all options to improve productivity and operational efficiencies and build on our balance sheet strength. The reset of our operating model is well advanced with the key to delivering shareholder value being to mine ‘profitable ounces’ not just ounces. Industry wide cost inflation is forcing a granular cost assessment andWestgold has commenced this deep dive into opportunities that can reduce waste and improve the ability of the business to generate stronger cash flows. There are opportunities to leverage our operating footprint, scale and internal capability with the optimisation of these key factors critical to increasing the profitability and sustainability of the business. The non-cash impairment, alongside a more disciplined approach to capital and operating expenditure, positions Westgold with the opportunity to deliver larger financial returns to our shareholders. Our vision for Westgold 2.0 is to continue to evolve to become a safer, inclusive, socially responsible and highly profitable gold miner. Our workforce is innovative, committed and focussed and with the continued support of our shareholders, stakeholders, communities and staff we are confident that the business can deliver on our FY23 objectives. Hon. Cheryl Edwardes AM Non-Executive Chair 3 Westgold Resources Limited Annual Report 2022
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