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Westgold Resources Limited (ASX:WGX)

ALERT: Price-sensitive ASX Announcement for WGX
Current share price for WGX : $5.530 -0.19 (-3.32%)+
Announcement
Release
20 Aug 2026 7:59AM
Price at Release
$5.720
Full Release
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Summary
Westgold Resources Limited (WGX) has reported a significant increase in its 2026 Mineral Resource and Ore Reserves. As of June 30, 2026, the total gold Mineral Resource Estimate is 194 million tonnes at 2.30 grams per tonne (g/t) Au, equating to 14.4 million ounces (Moz) of gold, an 8% increase year-on-year after divesting non-core assets. The total Ore Reserves have grown by 41% to 4.1Moz with a 15% increase in grade to 2.22 g/t. This growth was achieved at a modest cost of approximately $27/oz. Westgold plans to invest $50-75 million in FY27 in exploration and resource development, aiming to convert more Mineral Resources into higher-confidence Reserves and extend mine lives. The company's efforts focus on its Murchison and Southern Goldfields projects, with 26 drill rigs currently active to support these goals.
Key Points
  • 41% increase in Ore Reserve to 4.1Moz.
  • 15% increase in Ore Reserve grade to 2.22g/t.
  • 8% growth in Mineral Resource to 14.4Moz.
  • Measured and Indicated Resources increased to 62.6% of total Resource inventory.
  • 10-year Reserve life maintained at current processing capacity.
  • $50–75M planned investment in FY27 exploration and resource development.
  • 26 drill rigs operating across the portfolio.
  • Focus on converting Mineral Resources to Ore Reserves and extending mine lives.
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.