Northwire Canada EditionTuesday, November 10, 2026
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Earnings

Half Year Financial Results Summary - H1 FY26

By The Northwire Desk — AI Analysis Feb 25, 2026 · 18:13 WGX · 7.62 Westgold Resources Limited
WGX · Price

Executive Summary

  • Westgold Resources reported record H1 FY26 results: revenue $1,238 M (up 98%), underlying EBITDA $612 M and underlying NPAT $314 M.
  • Gold production rose 23% to 195,355 oz, with AISC of $2,871/oz (ex‑OPA) and $3,225/oz (incl. OPA).
  • Treasury balance reached a record $654 M after a $550 M underlying cash build and repayment of all debt.

Key Details

  • Revenue: $1,238 M (H1 FY25: $624 M) – 98% increase.
  • Underlying EBITDA: $612 M (up $388 M YoY), margin 49%.
  • Underlying NPAT: $314 M (up $257 M YoY).
  • Gold Production: 195,355 oz total (incl. 24,919 oz purchased ore); own‑mine production 170 koz at AISC $2,871/oz.
  • AISC: $2,871/oz excl. OPA; $3,225/oz incl. OPA (up from $2,562/oz YoY).
  • Treasury Build: $550 M underlying cash generated in H1; after $50 M debt repayment, closing balance $654 M (H1 FY25: $152 M).
  • Debt Position: 100% debt‑free after $50 M repayment in Dec 2025.
  • Guidance: FY26 production guidance unchanged at 345–385 k oz; AISC guidance $2,600–$2,900/oz maintained.
  • OPA Contribution: 24,919 oz from New Murchison Gold OPA at AISC $5,644/oz, adding $15 M cash inflow.
  • Capital Allocation: $136 M invested in mine development, property, plant & equipment, and exploration during H1.
  • Dividends & Share Buy‑backs: No interim dividend declared; board maintains policy of minimum 2¢ per share up to 30% of free cash flow. Ongoing share buy‑back program continues.
  • M&A Update: Mt Henry–Selene transaction: share consideration increased from $64.6 M to $110 M, generating $15 M cash and ~$65 M in Alicanto shares; up to $30 M deferred consideration pending milestones.
  • Upcoming Projects: Expansion of Bluebird‑South Junction (Murchison), commercial production at Great Fingall, Beta Hunt expansion, Higginsville processing hub. Valiant IPO slated for March 2026; Chalice and Peak Hill divestments progressing.

Notable Quotes

“Our H1 FY26 results demonstrate robust performance…record returns for shareholders…we remain focused on consistently delivering against our objectives.” – Wayne Bramwell, Managing Director & CEO

All figures are presented in Australian dollars unless otherwise noted.

Read the original news release →

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