Australian miner Westgold achieves record full-year production, cash position
ASX-listed gold producer Westgold Resources achieved record mining rates at the Bluebird South-Junction area in the quarter ended June 30, with annualised mining rates above one-million tonnes a year having been reached at the end of the quarter.
In a statement sharing its results for the last quarter of its 2026 financial year, Westgold says record yearly production was also achieved at the Meekatharra and Fortnum Hubs under Westgold's ownership.
Westgold's principal assets are the Southern Gold Fields and Murchison operations, in Australia.
The company produced 98 854 oz of gold in the quarter and 387 354 oz in the full-year, which is above its yearly guidance that was set at between 345 000 and 385 000 oz.
Westgold closed the financial year with $939-million in cash, bullion and liquid investments, which marked an increase of $575-million year-on-year and $83-million quarter-on-quarter. The underlying cash build in the fourth quarter alone was $233-million before investments in growth of $142-million, shareholder returns through buybacks of $22-million and exploration spend of $11-million.
The company remains fully debt free and unhedged, particularly after starting a process to divest its noncore Peak Hill and Chalice gold assets, which aims to simplify the project portfolio.
For Westgold MD and CEO Wayne Bramwell, the 2026 financial year was a defining year for the company that showed the company's strategy is delivering results.
Not only did the year deliver record yearly production, it placed Westgold in the strongest treasury position in its history.
"Westgold enters the 2027 financial year with a committed team, increasing operational momentum, a robust balance sheet and confidence in our long-term strategy. These factors enhance the resilience of our business and with our four processing hubs being optimised, cornerstone mines ramping up and our internal financial capacity to support organic growth, Westgold is well placed to continue to deliver sustainable returns to our shareholders," Bramwell concludes.
