By Digifin Pty Ltd · About this coverage
Key Points
- Revenue up 79% to $2,441m on record gold production of 387,354oz, up 19%
- Underlying NPAT up 452% to $480m; statutory NPAT $443m after $122m of adjustments and an $85m tax impact
- Closing treasury balance $939m, a build of $575m; 100% debt free and fully unhedged
- Fully franked final dividend of 10cps, about $95m; FY26 shareholder returns about $122m
- $50m on-market buy-back approved for FY27; FY27 production and cost guidance expected 9 September
About Westgold (ASX:WGX)
Westgold Resources Limited is a gold producer headquartered in Perth and listed on the ASX and the Toronto Stock Exchange. It owns and operates underground and open pit gold mines together with its own processing hubs in the Murchison and Southern Goldfields regions of Western Australia. It is an owner-operator, running its own mining fleets through its Australian Contract Mining business rather than relying on external contractors.
Westgold Resources Limited (ASX:WGX) reported revenue of $2,441 million for the year ended 30 June 2026, up 79 per cent on FY25, on record annual gold production of 387,354 ounces, up 19 per cent, and gold sales of 390,358 ounces, up 26 per cent, at an achieved gold price of $6,238 an ounce, up 42 per cent. All-in sustaining costs were $2,841 an ounce, up 7 per cent. Underlying EBITDA was $1,104 million at a margin of 45 per cent, against $498 million and 37 per cent in FY25, and underlying NPAT was $480 million, up 452 per cent. The company's reconciliation shows statutory NPAT of $443 million after a $119 million loss on asset sales, a $5 million loss on assets held for sale, $1 million of exploration and evaluation expenditure written off, a $3 million reversal of an impairment of an associate and an $85 million tax impact of those adjustments. All financial metrics are reported in Australian dollars unless otherwise specified.
Net cash flow from operations rose 170 per cent to $964 million and free cash flow was $602 million against $5 million in FY25. Westgold said it invested approximately $362 million in growth, development and exploration activities during FY26 while also funding $76 million of stamp duty payments for the Karora acquisition, repaying $50 million of outstanding debt, and meeting shareholder returns and portfolio optimisation initiatives, and finished the year with a closing treasury balance of $939 million, a build of $575 million, while remaining 100 per cent debt free and fully unhedged. The board declared a fully franked final dividend of 10 cents per share, representing approximately $95 million, which together with approximately $27 million invested in on-market share buybacks during FY26 took shareholder returns for the year to approximately $122 million. The company has adopted a new Shareholder Capital Return Policy and approved a $50 million on-market share buy-back program for FY27, and said it expects to provide further updates in the coming weeks, including the release of FY27 production and cost guidance and an updated Strategic Outlook on 9 September 2026.
Source: Westgold Resources Limited (ASX:WGX), 28 August 2026. Summary content supplied by Digifin Pty Ltd.
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