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Westgold scales up production

On Friday, Westgold MD and CEO Wayne Bramwell and his team celebrated the company’s new listing on the TSX, opening the market.

On Friday, Westgold MD and CEO Wayne Bramwell and his team celebrated the company’s new listing on the TSX, opening the market.

Photo by Westgold via X

16th September 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Precious metals miner Westgold Resources, which on Friday celebrated its new listing on the Toronto exchange, has bolstered its production guidance for 2025.

The Perth-based miner is forecasting gold production of between 400 000 oz and 420 000 oz for the 2025 financial year, an increase from 220 000 oz to 235 000 oz in the 2024 financial year.

Westgold recently took ownership of Karora Resources’ Australian Beta Hunt and Higginsville gold mines in a A$1.23-billion deal.

“FY25 sees a substantial step change in scale of operation for Westgold,” commented MD and CEO Wayne Bramwell on Monday.

He said integrating and optimising the Southern Golfields assets would be its focus in the first half of the year, with Beta Hunt expected to begin delivering increased output in the second half of the year.

“Murchison production lifts in the second half also as Bluebird-South Junction’s run rate hits 1.2-million tonnes a year and our Great Fingall mine comes online in the third or fourth quarter,” said Bramwell.

Westgold expects its all-in sustaining costs to be higher in the first half of 2025 and reduce in the second half. Its cost guidance is between A$2 000/oz and A$2 300/oz for 2025.

Further, Westgold expects 2025 to be the peak investment year for growth capital expenditure as it seeks to complete key projects, including Great Fingall, Big Bell, South Junction and the Beta Hunt mine. The miner has a guidance of A$235-million for growth capital.

“Growth capital into our largest and highest-grade mines establishes a business capable of delivering significantly higher outputs in FY26. Exploration investment in FY25 extends the lives of those mines,” stated Bramwell.

On Friday, Bramwell and his team joined the TSX’s chief commercial officer Rob Peterman to celebrate the company’s new listing on the TSX and open the market.

On Monday, Bramwell will be presenting at the Gold Forum Americas in Colorado Springs, Denver.

Edited by Creamer Media Reporter

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