• Record gold production of 80,886oz at AISC of A$2,703/oz
• Increased net mine cashflow of A$45M funding operational and growth capital
• Seventeen drill rigs operating across portfolio, growing resources and reserves

Westgold Resources Limited (ASX | TSX: WGX) reported results for the quarter ending 31 December 2024 (Q2 FY25), achieving its highest quarterly gold production of 80,886oz at an AISC of A$2,703/oz. This included 46,461oz from the Murchison and 34,425oz from the Southern Goldfields operations. The increased production and net mine cashflow of A$45M funded the company's operational and growth capital requirements. Westgold also drew down A$50M from its expanded A$300M corporate facility to support the working capital needs of the larger merged business. The company continued to advance key capital growth projects, including infrastructure upgrades at Beta Hunt and expansions at Bluebird-South Junction. Exploration and resource development activities across the portfolio were also a focus, with seventeen drill rigs operating and delivering positive results that grew the Bluebird-South Junction and Starlight resources. In the Southern Goldfields, Westgold rapidly demonstrated its ability to lift mine outputs, though the ramp-up at Bluebird-South Junction and Beta Hunt was slower than planned, impacting AISC for the quarter. The company remains committed to systematically reconfiguring the larger portfolio to generate higher levels of free cashflow.

Westgold's FY25 strategy is to reconfigure the larger portfolio to generate higher levels of free cashflow, with capital investment in critical mine infrastructure at Beta Hunt and Bluebird-South Junction, and resource development drilling key to achieving this. The company is investing to set up Beta Hunt to consistently deliver >2Mtpa run rates during 2025, and is steadily expanding Bluebird-South Junction to lift outputs to 1-1.5Mtpa run rates in 2025.