Group mine and milling outputs to lift, delivering improved free cash flow in FY26
Highlights
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Production guidance of 345-385koz - at AISC of
$2,600-$2,900 /oz -
Non-sustaining capex guidance of
$270M - investing predominantly in Bluebird-South Junction and Great Fingall mines
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Exploration and resource definition guidance of
$50M -
Multi - year outlook expected in September
- following release of FY25 Mineral Resource Estimate and Ore Reserve
Westgold Managing Director and CEO
"Westgold is now leveraging our expanded scale and continuing to optimise our largest mines and mills for grade and enhanced free cash flow in FY26. Consistency in delivery is key – driven by continued investment in drilling, improving operational efficiency and prudently allocating capital where it delivers the greatest return.
This strategy is already bearing fruit with a
Our team remains focussed on delivering enhanced shareholder returns through the delivery of safe and profitable ounces. With a robust balance sheet, full exposure to the gold price and a clear path to organic growth, Westgold is committed to becoming the leading Australian gold company."
Westgold FY26 Guidance
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FY25 Actual |
FY26 Guidance |
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Production (oz) 1 |
326,384 |
345,000 – 385,000 |
|
AISC (A$/oz)2 |
2,666 |
2,600 – 2,900 |
|
Non-sustaining capital (A$M) |
199 |
270 |
|
Exploration (A$M) |
43 |
50 |
Group Production
Within the FY26 production guidance of 345-385koz, Westgold forecasts 330-355koz being produced from Westgold assets and circa 15-30koz from the processing of purchased ores. Group production is back-end weighted to H2, FY26 due to the timing of mine ramp ups at Bluebird-South Junction, Great Fingall and from ore sourced from third parties.
Murchison
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Fortnum Processing Hub
Milled grade at the Fortnum Processing Hub is expected to lift across FY26, underpinned by ore from the Starlight underground mine. Mine performance is expected to remain consistent year-on-year, supported by high-grade ore from the Galaxy and Nightfall zones within the Starlight complex. -
Bluebird Processing Hub
Milled grade at the Bluebird Processing Hub at Meekatharra is expected to lift across FY26 as run of mine stocks build and higher-grade ore sources displace lower grade stocks. Those opportunities include:- Bluebird-
South Junction mine - the establishing of additional work areas and introduction of paste fill in this mine will result in lower production rates in H1 FY263, with the asset expected to reach a steady-state run rate of 1-1.2Mtpa by the end of FY26. - Great Fingall mine - first ore from higher grade virgin stopes at Great Fingall is expected in Q2 FY26, ramping up through FY26 with the asset reaching commercial production in FY27.
- Third party ore supply – from opportunities within trucking distance of Westgold processing hubs.
- Bluebird-
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1 Westgold's FY26 production guidance assumes ~15,000 – 30,000 ounces of production from purchased third party ore. |
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2 Included in Westgold's AISC/oz guidance are indicative costs for third party purchased ore. |
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3 Refer to ASX announcement titled " |
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Tuckabianna Processing Hub
Milled grade at the Tuckabianna Processing Hub near Cue is expected to remain consistent across FY26 with increasing outputs from the lower grade Upper Cave at Big Bell, offsetting a planned reduction in mined output from the higher-gradeLower Cave . This shift in ore sourcing is anticipated to deliver a more favourable cost profile for several years, deferring the capital-intensive development of the Big Bell Deeps.
Southern Goldfields
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Higginsville Processing Hub
In the Southern Goldfields, Westgold continues to debottleneck and optimise the Higginsville Processing Hub and anticipates milled throughputs and grades to lift across FY26 as run of mine stocks build and greater volumes of higher-grade ore from Beta Hunt and Two Boys is processed.
At Beta Hunt (the primary ore source for Higginsville), the completion of key infrastructure projects at Beta Hunt is expected to unlock higher productivity and support a ramp-up towards a 2Mtpa mining rate.
AISC
Westgold forecasts FY26 AISC between
Westgold's non-sustaining capital investment of
At Fortnum, Westgold is investing
In the Southern Goldfields, Westgold is closing out capital projects relating to Beta Hunt mine infrastructure and investing in TSF expansions and processing plant debottlenecking opportunities at Higginsville (
The FY26 non-sustaining capex estimated breakdown is shown below:
Exploration
Westgold plans to invest
Resource definition and conversion drilling will primarily focus on Bluebird-South Junction and Beta Hunt. Westgold has 17 underground drill rigs operating across the package currently with 3 additional surface drill rigs provided by third parties.
This announcement is authorised for release to the ASX by the Board.
Compliance Statements
Forward Looking Statements
These materials prepared by
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.
Although the Company attempts, and has attempted, to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. In addition, the Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section of the Company's continuous disclosure filings available on SEDAR+ or the ASX, including, in the Company's current annual report, half year report or most recent management discussion and analysis.
Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances.
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