The Westgold Resources Ltd (ASX: WGX) share price is in focus today after the company reported a $285 million underlying cash build for March 2026, increasing its treasury to $856 million and keeping FY26 gold production guidance on track.
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What did Westgold Resources report?
- Gold production of 93,145 ounces in Q3 FY26 (288,500oz YTD)
- Gold sales of 69,900 ounces at a record $7,080/oz, delivering $495 million in revenue
- All-In Sustaining Cost (AISC) ex-OPA of $2,931/oz; AISC including OPA of $3,338/oz
- Underlying quarterly cash build of $285 million; net mine cash inflow $254 million
- Closing cash, bullion, and liquid investments of $856 million, up $202 million over the quarter
- Westgold remains 100% debt free, fully unhedged, and in the ASX 100
What else do investors need to know?
Westgold maintained its FY26 gold production guidance of 345,000–385,000 ounces despite slightly lower quarterly grades and volumes. The company noted production was supported by improvements in key mining assets, with developments at Bluebird–South Junction and Beta Hunt expected to accelerate mining rates by year-end.
Operationally, Westgold brought forward open pit mining in the Murchison region by three months, enhancing ore blends and mill utilisation. The company continued to invest in growth, spending $81 million on development projects and $13 million on exploration during the quarter.
Westgold approved the expansion of its Higginsville mill, a $145 million investment to lift capacity from 1.6Mtpa to 2.6Mtpa, supporting long-term growth in the Southern Goldfields. The company further streamlined its portfolio with the divestment of the Mt Henry–Selene and spin-out of Reedy and Comet, unlocking about $140 million in immediate shareholder value.
What did Westgold Resources management say?
Managing Director & CEO said Wayne Bramwell said:
Westgold delivered another strong quarter in Q3 FY26, with cash generation lifting treasury to $856M. Underlying quarterly cash build of $285M underpins a business that is continually building strength to internally fund growth and return capital to shareholders.
What's next for Westgold Resources?
Westgold expects production rates to ramp up in Q4 FY26, with ventilation upgrades at Beta Hunt and Big Bell now complete and no major shutdowns planned. Management expects Bluebird–South Junction to reach mining rates of 1.0–1.2Mtpa and Beta Hunt to hit 2.0Mtpa by year-end, underpinning production targets.
The Higginsville Expansion Plan is underway, aiming to increase processing capacity and reduce unit costs from mid-FY28. The company's strengthened balance sheet, new $600 million credit facility, and portfolio optimisation are expected to support both future growth and returns to shareholders.
Westgold Resources share price snapshot
Over the past 12 months, Westgold Resources shares have risen 102%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 8% over the same period.
