Westgold achieves top end of revised FY24 guidance
Western Australia-focused Westgold has achieved the top-end of its 2024 production guidance, with 227 237 oz of gold produced during the year ended June 30.
The ASX-listed company’s guidance was to produce between 220 000 oz and 230 000 oz in the 12 months.
Westgold MD and CEO Wayne Bramwell notes that, even with substantial investments into growth projects, the miner increased its cash and bullion position by A$16-million in the fourth quarter, bringing its group total to A$263-million.
The growth capital invested across the assets in the past year will start delivering increased production and margin improvement in the second half of the 2025 financial year and beyond, says Bramwell.
Westgold expects to complete its merger with Karora at the end of the month.
“The expanded Westgold 3.0 will be a unique prospect in the Australian gold space – an unhedged, well-funded owner operator that is fully leveraged to the gold price. With an extensive pipeline of organic expansion, development and exploration opportunities, Westgold 3.0 will have unparalleled growth potential and offer an unrivalled value proposition to a much wider investment market,” says Bramwell.
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