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Westgold Resources Limited (ASX:WGX)

ALERT: Price-sensitive ASX Announcement for WGX
Current share price for WGX : $5.080 -1.17 (-18.72%)+
Announcement
Release
10 Mar 2026 8:22AM
Price at Release
$6.250
Full Release
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Summary
Westgold Resources Limited has approved the Higginsville Expansion Plan (HXP), a significant investment of $145 million to enhance the Higginsville Processing Hub from 1.6Mtpa to a nominal 2.6Mtpa capacity, with plans for future-proofing to 4.0Mtpa. This expansion aims to increase annual gold production by approximately 60,000 ounces and reduce processing costs by 24% to $34 per tonne. The project, which capitalizes on the Southern Goldfields' existing resources, carries a pre-tax Net Present Value (NPV) of $1.4 billion at a gold price of $4,905 per ounce and a higher NPV at spot prices. Key infrastructure upgrades include a new primary crusher, a 5.8MW SAG mill, and expanded leach circuits. The expansion is projected to start generating increased production and cash flow by mid-FY28. The Definitive Feasibility Study underpins the project’s economic viability, with a payback period of 21 months. Westgold's strategic focus is on reducing costs and boosting free cash flow while preparing for higher ore delivery from its Beta Hunt mine.
Key Points
  • Westgold approves $145M Higginsville expansion to 2.6Mtpa.
  • Expected increase in annual gold production by 60koz.
  • Processing costs reduced by 24% to $34/t.
  • Project NPV at $1.4B with pre-tax IRR of 43%.
  • Future-proofing for expansion to 4.0Mtpa.
  • Completion and increased production expected by mid-FY28.
  • Strategic alignment with Southern Goldfields growth.
  • Significant infrastructure upgrades planned.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.