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Westgold Resources Ltd

www: www.westgold.com.au   email: reception@westgold.com.au
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
ASX:WGX AUD
OTCMKTS:WGXRF USD
TSE:WGX CAD

Description

Westgold Resources Ltd are a gold focused mid-tier producer with two producing mines in Australia and USA, one mine in development in Australia and four exploration properties. Currently they produce roughly 365koz. of gold per year. They have approximately 12Moz. of gold in the reserves and resources category of which 8Moz. are in the measured and indicated category. They have a market capitalisation of ~A$4616.27M which is a rise of roughly 150% over the last six months. As of 01/20/2026 they have no debt and ~A$442.72M cash. They have 943M shares outstanding and trade on

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General Details

Financial 08/13/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $1,843.77M $4,616.27M 08/13/2025
MCap (OS): $1,826.56M $4,573.16M 08/13/2025
Total Assets: $424.58M $557.76M 01/20/2026
Total Liabilities: $150.24M $160.36M 08/13/2025
Current Assets: $237.76M $442.72M 01/20/2026
Current Liabilities: $70.55M $75.30M 08/13/2025
Total Debt: $32.66M $0.00M 01/20/2026
Cash: $237.76M $442.72M 01/20/2026
Debt (Net): $-205.10M $-442.72M
Enterprise Value: $1,638.67M $4,173.55M
Cash Flow: $348.53M $851.99M never
Cash Flow Multiple: 5.29 5.42 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: 08/13/2025
Misc 08/13/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 943,109,690 943,109,690 08/13/2025
Shares (FD): 952,000,000 952,000,000 08/13/2025
Insider Ownership: n/a n/a never
Dividend (Annual): n/a n/a 01/20/2026
Company Type: Mostly Gold Mostly Gold never
Group: Producer Producer never
Production ETA: n/a n/a 08/13/2025
Production (Gold Eq Oz.): (guess) 
365,000		 (guess) 
365,000		 09/04/2025
Production (Silver Eq Oz.): (guess) 
31,955,407		 (guess) 
22,425,435		 09/04/2025
Development Phase: none Producer (Single Mine) 01/20/2026
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 20
Producer: Growth Potential
 20
Producer: Growth Potential
 08/15/2024
Cash Flow Multiple: 15 20 01/20/2026

Resource Data

GOLD 08/13/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 3.20M 3.20M 08/13/2025
Measured & Indicated: 8.00M 8.00M 08/13/2025
Inferred: 4.00M 4.00M 08/13/2025
Reserves & Resources: 12.00M 12.00M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 2.88M 2.88M 08/13/2025
Measured & Indicated: 6.34M 6.34M 08/13/2025
Inferred: 1.80M 1.80M 08/13/2025
Reserves & Resources: 8.14M 8.14M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
365,000oz.		 (guess) 
365,000oz.		 09/04/2025
Cash Cost: $1,650 $1,800 01/20/2026
Extra Operating Cost: $750 $800 01/20/2026
Total: $2,400 $2,600 01/20/2026
Margin (Free Cash Flow): $955 (28%) $2,334 (47%)
MCap / Production (AuEq): $5,051.44 $12,647.32
EV / Production (AuEq): $4,489.51 $11,434.39
G
R
A
D
E		 Underground (Avg): 2.30 g/t 2.30 g/t 08/13/2025
Open Pit (Avg): n/a n/a 02/03/2024
Recovery Rate: (CG)  90.00% (CG)  90.00% 01/20/2026
F
U
T
U
R
E		 Proven & Probable: 10.00M 10.00M 08/13/2025
Annual Production: 500,000oz. 470,000oz. 09/30/2025
Cash Cost: $1,750 $1,900 01/20/2026
Extra Operating Cost: $750 $800 01/20/2026
SILVER 08/13/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 08/13/2025
Measured & Indicated: n/a n/a 08/13/2025
Inferred: n/a n/a 08/13/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 08/13/2025
Measured & Indicated: n/a n/a 08/13/2025
Inferred: n/a n/a 08/13/2025
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 08/13/2025
Extra Operating Cost: n/a n/a 08/13/2025
Total: n/a n/a 08/13/2025
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): $57.70 $205.85
EV / Production (AgEq): $51.28 $186.11
G
R
A
D
E		 Underground (Avg): n/a n/a 08/13/2025
Open Pit (Avg): n/a n/a 02/03/2024
Recovery Rate: n/a n/a 08/13/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 08/13/2025
Annual Production: n/a n/a 08/13/2025
Cash Cost: n/a n/a 08/13/2025
Extra Operating Cost: n/a n/a 08/13/2025

Property

Last Analysis Data  (08/13/2025)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Prod Beta Hunt
100 show
Low resources, but significant exploration potential.
Dev Spargos
100 show
150,000 oz, growing in size.
Exp Bryah
100 show
50,000 oz per year.
Exp Higginsville
100 show
Mine and mill.

1+ million oz.

Size: 200,000 ha
Exp Murchison
100 show
200,000 oz of annual production.
Exp Qiqavik
44 show
Early exploration.
Prod Carolina
44 show
Early exploration
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Prod Beta Hunt
100 show
Low resources, but significant exploration potential.
Dev Spargos
100 show
150,000 oz, growing in size.
Exp Bryah
100 show
50,000 oz per year.
Exp Higginsville
100 show
Mine and mill.

1+ million oz.

Size: 200,000 ha
Exp Murchison
100 show
200,000 oz of annual production.
Exp Qiqavik
44 show
Early exploration.
Prod Carolina
44 show
Early exploration

Profitability (by resource)

Proven &
Probable		 08/13/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 3.20M 3.20M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.88M 2.88M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $2,750.05M $6,722.52M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,750.05M $6,722.52M n/a
Max Profit / Current MCap: 1.492 1.456 n/a
Max Profit Per Share (Gold): $2.89 $7.06 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.89 $7.06 n/a
Total Free Profit Per Share: $0.00 $0.11 n/a
FD MCap / Gold Eq.: $640.20 $1,602.87 n/a
FD MCap / Silver Eq.: $7.31 $26.09 n/a
FD MCap / Per Metal
as % Spot Price:		 19.08% 32.48% n/a
EV / Gold Eq.: $568.98 $1,449.15 n/a
EV / Silver Eq.: $6.50 $23.59 n/a
EV / Per Metal
as % Spot Price:		 16.96% 29.37% n/a
Measured &
Indicated		 08/13/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 8.00M 8.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 6.34M 6.34M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $6,050.12M $14,789.55M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $6,050.12M $14,789.55M n/a
Max Profit / Current MCap: 3.281 3.204 n/a
Max Profit Per Share (Gold): $6.36 $15.54 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $6.36 $15.54 n/a
Total Free Profit Per Share: $3.39 $8.58 n/a
FD MCap / Gold Eq.: $291.00 $728.58 n/a
FD MCap / Silver Eq.: $3.32 $11.86 n/a
FD MCap / Per Metal
as % Spot Price:		 8.67% 14.77% n/a
EV / Gold Eq.: $258.63 $658.70 n/a
EV / Silver Eq.: $2.95 $10.72 n/a
EV / Per Metal
as % Spot Price:		 7.71% 13.35% n/a

Reserves &
Resources		 08/13/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 12.00M 12.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 8.14M 8.14M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $7,768.90M $18,991.13M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $7,768.90M $18,991.13M n/a
Max Profit / Current MCap: 4.214 4.114 n/a
Max Profit Per Share (Gold): $8.16 $19.95 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $8.16 $19.95 n/a
Total Free Profit Per Share: $5.20 $12.99 n/a
FD MCap / Gold Eq.: $226.62 $567.39 n/a
FD MCap / Silver Eq.: $2.59 $9.23 n/a
FD MCap / Per Metal
as % Spot Price:		 6.75% 11.50% n/a
EV / Gold Eq.: $201.41 $512.97 n/a
EV / Silver Eq.: $2.30 $8.35 n/a
EV / Per Metal
as % Spot Price:		 6.00% 10.40% n/a

Future Valuation (Cash Flow & Totals)

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