Westgold Resources Limited: FY24 Q2 Production Update

Westgold Resources Limited (ASX: WGX) During Q2 of FY24 experienced a notable surge in its cash and bullion reserves, amassing an additional AU$21 million and reaching a total of AU$238 million for the first half of the fiscal year. The company successfully produced 59,238 ounces of gold at an average sale price of AU$3,041/oz. This marks four straight quarters of cash growth, keeping the company debt-free.

Despite operational challenges, particularly at the smaller Paddy's Flat mine in Meekatharra, Westgold demonstrated adaptability by compensating with improved outputs from the revitalized Starlight underground mine at Bryah. Wayne Bramwell, Westgold's Managing Director, emphasized the company's operational flexibility and affirmed their progress toward meeting the FY24 production target of 245,000 to 265,000 ounces.

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