Westgold Resources Posts Record Half-Year Profits on Gold Price Surge
Event summary
- Revenue surged 98% to $1.24B in H1 FY26, driven by higher gold prices and increased production.
- Underlying NPAT reached $314M, up from $57M in the prior year period.
- Gold production increased 23% to 195,355oz, including 24,919oz from purchased ore agreements.
- Company built $550M in treasury, becoming 100% debt-free after repaying $50M in December 2025.
- Mt Henry-Selene transaction generated $15M in cash and $65M in Alicanto shares.
The big picture
Westgold's record results reflect the broader gold mining sector's strong performance in 2025, with gold prices reaching $5,877/oz. The company's strategic focus on core asset optimization and non-core divestments positions it to capitalize on current market conditions while strengthening its balance sheet. The $654M treasury build demonstrates financial discipline amid volatile commodity markets.
What we're watching
- Production Growth
- Whether Westgold can sustain its 23% production increase through H2 FY26 as it expands key mines in Murchison and Southern Goldfields regions.
- Cost Management
- How the company will control rising AISC (up 12% excluding OPA) amid increased development activity across its core assets.
- Portfolio Optimization
- The pace at which Westgold can execute planned divestments of Chalice and Peak Hill assets and the Valiant IPO.
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