• FY25 production guidance revised to 330,000-350,000 oz
• AISC guidance revised to A$2,400-A$2,600/oz
• Growth capital reduced to A$200M, prioritizing highest return projects

Westgold Resources Limited (ASX/TSX: WGX) has provided an update to its FY25 Production, All-In Sustaining Cost (AISC) and Capital Guidance. The company's corporate strategy is to systematically recalibrate the business for long-term sustainable growth and higher levels of free cash generation. The Beta Hunt and Bluebird-South Junction mines are the major drivers of growth, with capital investment and resource drilling in both assets key to leveraging this new scale and reducing Group operating costs. However, during H1 FY25, the ramp-ups of both assets were slower than planned, predominantly due to engineering, not mineral resource issues. At Beta Hunt, production was adversely affected by the need to undertake significant upgrades of primary ventilation, mine pumping systems (dewatering) and clean water supply. At Bluebird-South Junction, the transition to a much larger tonnage, transverse stoping mining method in the South Junction lodes was slower than planned as a result of upgrading the ground support regime. As a result of these delays, Westgold is revising its full year FY25 Production Guidance to 330-350koz, with AISC Guidance now adjusted to $2,400 - $2,600/oz. Growth capital for the full year has reduced to $200M with the prioritization to projects delivering the highest return on investment (Beta Hunt, Bluebird-South Junction and Great Fingall).

FY25 Production Guidance: 330,000 - 350,000 oz FY25 AISC Guidance: A$2,400 - A$2,600/oz

Westgold's output will continue to improve across H2 FY25, with production in Q4 FY25 expected to reflect an annualized run rate of +400kozpa. The company is confident in the optionality its expanded portfolio now provides to deliver much higher levels of safe and profitable production into FY26 and beyond.