Westgold Resources (WGXR.F) Conference Transcript

Westgold Resources (WGXR.F) Conference Summary Industry and Company Overview - Company: Westgold Resources - Industry: Mining, specifically gold production Key Points and Arguments 1. Safety Performance: The Total Recordable Injury Frequency Rate (TRIFR) decreased by 10% in Q4 FY '25 to 0.5, emphasizing safety as a key enabler for business performance [2][24] 2. Transformative Year: FY '25 was transformative due to the completion of the Carolla merger, significantly increasing the scale and geographic footprint of Westgold [3][24] 3. Record Production: The company achieved a record annual production of 326,000 ounces in FY '25, with Q4 production reaching 88,000 ounces, including 34,000 ounces in June [4][5] 4. Financial Strength: The treasury grew by $132 million, reflecting improved operational execution and financial strength [5] 5. Strategic Focus: The strategy for FY '26 includes stabilizing operations, investing in growth, and building cash, with a stronger base from the Southern Goldfields assets [6][24] 6. Murchison Operations: The Blue Bird South Junction mine is pivotal for future production, with plans to ramp up to 1,200,000 tonnes per annum by late FY '26 [9][22] 7. Big Bell Mine: The focus shifted to prebroken rock in the upper cave, resulting in 60% of Q4 ore coming from this area, extending the mine's life and optimizing future development [11][12] 8. Great Fingle Development: Progress in decline development and mining in the Fingle Flats area is expected to enhance margins and recoveries [13][14] 9. Beta Hunt Mine Potential: Significant infrastructure upgrades at Beta Hunt are aimed at increasing reliability and production capacity, with a maiden mineral resource estimate of 31 million tonnes at 2.3 grams per tonne for the Fletcher Zone [16][18] 10. Two Boys Mine Success: The Two Boys underground mine has shown promising results, contributing positively to production after initial concerns [20][22] Additional Important Content 1. Operational Challenges: Integration of the Carolla merger posed operational difficulties, leading to revised expectations midyear [4] 2. Future Focus: The FY '26 strategy emphasizes consistent delivery, production expansion, cost reduction, and increased free cash flow [22][24] 3. Resource Conversion: The company is focused on converting resources to reserves, particularly in the Fletcher Zone, to establish a third mining front [23][24] 4. Well-Funded Position: Westgold is well-funded with a clear plan and a capable team to execute its strategy in FY '26 [24]