Board Approves Higginsville Expansion Plan

The most recent news (March 10, 2026) announces the Board’s Final Investment Decision (FID) to expand the Higginsville Processing Hub from 1.6Mtpa to 2.6Mtpa. This $145M capital project is expected to increase gold production by 60kozpa and reduce unit processing costs by 24% to $34/t. The project boasts a pre-tax NPV of $1.4B and an IRR of 43% based on a gold price of $4,905/oz. Construction is slated for completion by mid-FY28. This follows a record H1 FY26 financial result where the company reported $1.2B in revenue, $612M in EBITDA, and a closing treasury of $654M.

The expansion of Higginsville is a Material - Positive development that formalizes the growth strategy outlined in the 3-Year Outlook. - Financial Strength: The company is 100% debt-free after repaying $50M in December 2025. The $145M expansion cost is easily covered by the existing $654M cash/bullion reserve, requiring no external financing. - Operational Efficiency: A 24% reduction in processing costs at the hub significantly protects margins if gold prices retreat from current record highs (recently achieved at $6,356/oz). - Portfolio Rationalization: The company is successfully shedding non-core assets (Mt Henry-Selene, Valiant Gold demerger) to focus on high-margin "hubs." The Mt Henry sale value increased from $64.6M to $110M due to share price appreciation of the acquirer, Alicanto. - Production Growth: The expansion is a key pillar to reaching the FY28 target of 470kozpa.

Westgold is a Western Australian gold producer operating four processing hubs: Meekatharra, Cue, Fortnum, and Higginsville. - Flagship Project: The Murchison Operations (Bluebird-South Junction and Big Bell) and the Southern Goldfields (Beta Hunt). - Beta Hunt/Higginsville: This is the current growth engine. Beta Hunt is ramping toward 2Mtpa mining rates, which necessitates the Higginsville mill expansion to 2.6Mtpa.