• Expansion from 1.6Mtpa to 2.6Mtpa to boost production and margin
• Pre-tax NPV of $1.4B at gold price of $4,905/oz, increasing to $2.7B at spot of $7,305/oz
• Pre-tax IRR of 43% at $4,905/oz gold price, increasing to 140% at spot

Westgold Resources Limited (ASX | TSX: WGX) has announced that its Board has approved the Final Investment Decision (FID) to expand the Higginsville Processing Hub from 1.6Mtpa to nominally 2.6Mtpa (the HXP). The decision follows completion of a Definitive Feasibility Study (DFS) which confirms the technical and financial veracity of the HXP. The $145M capital investment will increase ore processing capacity in the Southern Goldfields by ~62.5%, lift Westgold's Southern Goldfields gold production by ~60kozpa, and reduce processing costs by 24% to $34/t. The DFS highlights the strength of the business case, with a pre-tax NPV of $1.4B at a gold price of $4,905/oz, increasing to $2.7B at the current spot price of $7,305/oz. The pre-tax IRR is 43% at $4,905/oz, increasing to 140% at spot. The expansion is designed with future growth in mind, with the capability to support further expansion to 4Mtpa. The timing of the HXP aligns with the anticipated growth in mining rates from the Southern Goldfields, ensuring that expanded processing capacity is ready to accommodate increased ore delivery from the Beta Hunt mine.

The HXP is expected to increase Westgold's Southern Goldfields gold production by ~60kozpa to 160kozpa, and reduce processing unit costs to ~$34/t (from ~$45/t currently).

The HXP has been intentionally engineered with the potential to expand to 4Mtpa, enabling Westgold to rapidly capitalise on growth opportunities should the Fletcher Zone at Beta Hunt ultimately support sustained, higher ore delivery rates. Westgold continues to advance drilling in the Fletcher Zone, and expects to refine the long-term portfolio plan and ensure that Higginsville remains a core, scalable, low-cost processing hub for the Southern Goldfields.