The Westgold Resources Ltd (ASX: WGX) share price is in focus today after the company delivered record FY26 gold production of 387,354 ounces, exceeding its own guidance, and closed the year with $939 million in cash, bullion, and liquid investments.
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What did Westgold Resources report?
- FY26 gold production: 387,354 ounces – above guidance range of 345,000–385,000oz
- Q4 FY26 gold production: 98,854 ounces at an all-in sustaining cost (AISC) of $2,802 per ounce
- FY26 AISC: $2,841/oz, within cost guidance ($2,600–$2,900/oz)
- Q4 underlying cash build: $233 million (before investments and other items)
- FY26 closing cash, bullion & investments: $939 million, up $575 million year on year
- No debt; fully unhedged gold production
What else do investors need to know?
Westgold achieved record annual production from both its Meekatharra and Fortnum mining hubs. The company delivered a strong Q4 performance, with growth driven by higher-grade ore and expanded mining rates at key assets such as Bluebird-South Junction and Great Fingall.
During the quarter, Westgold completed divestments of the Peak Hill and Chalice Gold Projects, simplifying its portfolio and realising around $68 million in immediate value. It also executed a $27 million on-market share buyback and continued to invest in growth and infrastructure, with $142 million directed to key projects during the quarter.
What did Westgold Resources management say?
Managing Director & CEO Wayne Bramwell said:
FY26 was a defining year for Westgold and showed our strategy is delivering results. Over the past two years, we have simplified our portfolio, focused on our highest return assets and prudently allocated capital on key projects and infrastructure that enables future growth. In FY26, this strategy delivered record annual production of 387,354oz, above our guidance range, achieved our cost guidance, and placed Westgold in the strongest treasury position in its history.
What's next for Westgold Resources?
Westgold will provide its full FY26 financial results, dividend update, and FY27 guidance in August 2026. The company intends to update its three-year outlook at the same time, incorporating new organic growth initiatives and its evolving production profile.
Management highlighted ongoing investments in resource development and infrastructure, including expanding processing capacity and progressing growth projects. Cost control, improved mill feed grades, and operational efficiency will remain a focus as Westgold seeks to offset sector-wide cost inflation and deliver sustainable shareholder returns.
Westgold Resources share price snapshot
Over the past 12 months, Westgold Resources shares have risen 60%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.
