InvestSMART

Westgold Resources Limited (ASX:WGX)

ALERT: Price-sensitive ASX Announcement for WGX
Current share price for WGX : $4.860 0.01 (0.21%)+
Announcement
Release
5 Aug 2026 8:18AM
Price at Release
$4.850
Full Release
download
Summary
The Cue Expansion Project (CXP) by Westgold Resources Limited aims to increase the throughput of the Cue processing hub from 1.4Mtpa to 1.7Mtpa by fiscal year 2028. This expansion will involve upgrading the mill motor power and enhancing system components to support higher operational duty, designed to boost the milling circuit throughput. Scheduled for completion by late fiscal year 2027, the expansion is projected to add approximately 15,000 ounces per annum to production from the Cue hub starting FY28. The project is capital-light, costing about $22 million with an expected payback period of ten months, and it seeks to leverage existing infrastructure, minimizing risk and capital expenditure. The CXP also plans further brownfields drilling to define future ore sources and optimize resource definition.
Key Points
  • CXP aims to increase Cue processing hub throughput from 1.4Mtpa to 1.7Mtpa by FY28.
  • Mill motor power will be upgraded from 2.9MW to 4.2MW to support higher throughput.
  • Process plant upgrade will raise milling circuit throughput from 170 t/h to 200 t/h.
  • Expansion scheduled for completion in late FY27, with full capacity increase by FY28.
  • CXP expected to add around 15kozpa of gold production from FY28 onwards.
  • Expansion will cost approximately $22M with a payback period of 10 months.
  • Life of Mine gold production is estimated between 1.1 – 1.3 Moz at AISC range of $2,916 - $3,564/oz.
  • CXP Scoping Study indicates an NPV improvement of approximately $400M at a gold price of $5,500/oz.
  • The expansion leverages existing infrastructure, reducing the need for new plant construction and minimizing risk.
  • Brownfields resource definition drilling is underway to support future ore optionality.
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.