for the year ended 30 June 2025 FINANCIAL REPORT DIRECTORS’ REPORT SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS On 1 August 2024 Westgold completed a $1.4B merger with Karora, transforming the Company into a top five Australian gold producer and a member of the ASX 200. Refer to Note 35 within the Financial Report. In March 2025, the Group divested its non-core Lakewood Milling Operation to Black Cat Syndicate Limited (ASX: BC8). Refer to Note 36 within the Financial Report. Total equity increased to $1,969 million (2024: $692 million). SIGNIFICANT EVENTS AFTER THE BALANCE DATE Dividends Subsequent to period end, the Company declared an unfranked dividend of 3 cents (AUD) per share. The total amount of the dividend has not been provided for in the 30 June 2025 Financial Statements. Apart from the above, no matters or circumstances have arisen since the end of the year which significantly affected or may significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial periods. LIKELY DEVELOPMENTS AND EXPECTED RESULTS The Group is expected to continue exploration, development, operations and production and marketing of gold bullion in Australia and will continue the development of its gold exploration projects. ENVIRONMENTAL REGULATION AND PERFORMANCE The Group conducts its operations in accordance with all applicable Commonwealth and State environmental legislation. Activities are guided by a comprehensive framework of environmental licences and management plans that cover the full project lifecycle, from exploration through to mining and processing. These regulatory approvals establish specific conditions for key activities such as water abstraction, waste management, and the storage of hazardous materials. Detailed Mining Proposals and Mine Closure Plans for all project areas, approved by the regulatory authority, outline our mining methods, environmental management strategies, and the specific actions for post-mining rehabilitation to ensure the long-term stability and safety of our sites. The Board of Directors maintains direct oversight of our environmental obligations and performance. To ensure transparency and accountability, our operations are also subject to regular audits and inspections by government regulatory authorities. PERFORMANCE RIGHTS Employee rights During the year ended 30 June 2025, the Company granted 4,127,031 unlisted Performance Rights to senior management under the Employee Performance Rights Plan. Included in this issue were 500,483 Performance Rights granted to the Managing Director. The principal terms of the Employee Rights are: – The Performance Rights have been issued for nil consideration; – Each Performance Right carries an entitlement to one fully paid ordinary share in the Company for each Performance Right vested; – Vesting only occurs after the end of the Performance Periods and the number of Performance Rights that vest (if any) will depend on: – Relative Total Shareholder Return; – Absolute Total Shareholder Return; – Absolute Earnings Per Share; – Ore Reserve Growth; – Any Performance Rights that do not vest after the end of the Performance Periods will automatically lapse; and – No amount is payable by a holder of Performance Rights in respect of the shares allocated upon vesting. 52 WESTGOLD RESOURCES LIMITED
RkJQdWJsaXNoZXIy MjE2NDg3