Westgold Resources Set to Achieve New Production Targets

Westgold Resources Elevates Production Guidance for FY25

Westgold Resources Limited is excited to announce a significant elevation in their production guidance for the fiscal year 2025. The company now forecasts production to range between 400,000 and 420,000 ounces, an impressive increase from the previous year's guidance of approximately 220,000 to 235,000 ounces.

Key Highlights for FY25

The fiscal year is poised for remarkable advancements. Westgold expects production improvements to intensify in the second half of FY25. With operations at Beta Hunt, Bluebird at South Junction, and Great Fingall ramping up, the company is well-positioned to boost output significantly.

All-In Sustaining Cost Adjustments

Westgold has also revised its all-in sustaining cost (AISC) guidance downward to between A$2,000 and A$2,300 per ounce. This marks a reduction from the A$2,100 to A$2,300 range reported last year, reflecting increased operational efficiencies and cost management.

Strategic Investments and Growth Initiatives

Moreover, FY25 is projected to be a pivotal investment year for Westgold. The company plans to integrate and optimize its Southern Goldfields assets while expanding operations in the Murchison region. The commencement of production at the Great Fingall mine is also anticipated in the latter part of the fiscal year.

Exploration Guidance Enhancements

For FY25, Westgold is further committing an exploration budget of A$50 million, targeting resource definition programs at multiple sites including the Fletcher Zone at Beta Hunt. This investment encompasses greenfields exploration in the Southern Goldfields and Murchison regions.

Statements from Leadership

Westgold's Managing Director and CEO, Wayne Bramwell, expressed enthusiasm about the upcoming fiscal year: "FY25 represents a significant scaling-up of operations for Westgold. Our focus in the first half will be on integrating the Southern Goldfields assets, while we anticipate better output from Beta Hunt and other sites as we progress into the second half. This growth will position us favorably for FY26. Our commitment to sustainable practices will not only enhance our production capacity but also extend the longevity of our projects through strategic exploration investments."

Guidance Summary and Expectations

The guidance for FY25 signifies a transformative phase for Westgold, backed by substantial capital investments aimed at enhancing operational capabilities and resource productivity. With increasing production forecasts and reduced AISC, the company is on a trajectory to realize its ambitious mining objectives.

Frequently Asked Questions

What is the new production guidance for FY25?

Westgold Resources Limited has increased its production guidance for FY25 to between 400,000 and 420,000 ounces.

How does the new guidance compare to FY24?

The new guidance represents a significant increase from the FY24 production target, which was set between 220,000 and 235,000 ounces.

What are the expected AISC figures for FY25?

Westgold expects the all-in sustaining cost to be between A$2,000 and A$2,300 per ounce, a reduction from the previous year's AISC range.

How much is Westgold investing in exploration in FY25?

The company is allocating A$50 million for exploration in FY25, focusing on resource definition and greenfields exploration initiatives.

What comments did the CEO make about future growth?

Wayne Bramwell stated that FY25 will be critical for Westgold, emphasizing the integration of Southern Goldfields assets and the anticipated increased production output from various mines.

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