Westgold Resources (WGX) Mining Forum Americas 2026 summary

Strategic Overview and Growth Plan

• The 4-5-6 strategy targets 500,000 ounces of gold production by FY 2029, with a pathway to exceed 600,000 ounces through organic growth and brownfield expansions.

• Operates four processing hubs in Western Australia, supported by a 10-year reserve life and a $100 million drilling commitment over three years.

• Production is set to rise from 387,000 ounces in FY 2026 to over 500,000 ounces by FY 2029, with brownfields expansions at Cue and Meekatharra adding 1.4 million tonnes of capacity.

• The plan is fully funded, with over $600 million in cash and liquids as of June 30, and a market cap near $4 billion.

• Major investments in exploration and resource definition, exceeding US $103M, are planned to support reserve growth and future mining fronts.

Key Projects and Operational Highlights

• Fletcher, part of the Beta Hunt mine, is a major growth lever, with potential for another 2 million tons of output and 1.1 million ounces of maiden reserve.

• Bluebird at Meekatharra is ramping up, with potential to double output to 2 million tons per annum, mirroring growth seen at Beta Hunt.

• Third-party ore supply from spin-outs like Valiant and Great Boulder is expected to leverage existing mill capacity without mining risk.

• Exploration spend will focus on both reserve conversion and greenfields targets to grow the reserve base above 4 million ounces.

• Key projects such as Polar Star, Big Bell Deeps, and the Fletcher Zone are scheduled to drive production growth and operational flexibility through FY29.

Financial Performance and Shareholder Returns

• Record gold production of 387koz in FY26 exceeded guidance, with treasury growing to US $645M and a 49% annual increase in cash and liquid investments.

• FY26 saw US $83M in shareholder capital returns, including a 6.9cps fully franked dividend and a US $34M share buyback program for FY27.

• The company maintains a strong liquidity position with US $1.1B available and a market capitalization of US $3.7B as of September 2026.

• Forecast free cash flow yield for FY29 is sector-leading at 14%, positioning the company attractively among ASX and TSX gold peers.

• Emphasized sustainable shareholder returns, with $83 million returned last year and $40 million in buybacks already this year.