Perth-based Westgold Resources has increased its production guidance for 2025 financial year to 400 000 - 420 000 ounces of gold, compared to 220,000 - 235,000 ounces a year earlier.
The substantial increase is partly due to the recent acquisition of Beta Hunt and Higginsville gold mines in Australia from Karora Resources for AUD1.23 billion ($832 million).
Production for the financial year will be back ended as in the second half of the 2025 financial year, the South Junction, Big Bell Deeps and Great Fingall projects are expected to commence production ramp up and Beta Hunt is expected to reach a 2Mtpa run rate.
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 AUD2,000/oz and AUD2,300/oz for 2025.
“FY25 sees a substantial step change in scale of operation for Westgold. Integrating and optimising the Southern Goldfields assets will be the focus in H1, FY25 with Beta Hunt beginning to deliver increased output in H2,” said Westgold managing director and CEO Wayne Bramwell.
“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. Westgold is building a long term, sustainable Australian gold company with an enviable pipeline of internal growth opportunities and FY25 will be pivotal in establishing our future.”
Westgold’s profit in 2024 financial year amounted to $95 million and produced 227,237 ounces of gold. Just recently, the company celebrated its new listing on the Toronto stock exchange.
Theodor Lisovoy, Managing Editor, Rough&Polished
