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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$3313.08M which is a rise of roughly 80% over the last three months. As of 08/13/2025 they have ~A$33M debt and ~A$309.34M cash. They have 943M shares outstanding and trade on

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General Details

Financial 08/13/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $1,843.77M $3,313.08M 08/13/2025 $1,469.30M
MCap (OS): $1,826.56M $3,282.14M 08/13/2025 $1,455.58M
Total Assets: $424.58M $426.00M 08/13/2025 $1.42M
Total Liabilities: $150.24M $150.74M 08/13/2025 $0.50M
Current Assets: $237.76M $309.34M 10/27/2025 $71.58M
Current Liabilities: $70.55M $70.78M 08/13/2025 $0.24M
Total Debt: $32.66M $32.77M 08/13/2025 $0.11M
Cash: $237.76M $309.34M 10/27/2025 $71.58M
Debt (Net): $-205.10M $-276.57M $-71.47M
Enterprise Value: $1,638.67M $3,036.50M 03/22/2066 $1,397.83M
Cash Flow: $348.53M $549.58M never $201.05M
Cash Flow Multiple: 5.29 6.03 never 0.74
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 08/13/2025 n/a
Misc 08/13/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 943,109,690 943,109,690 08/13/2025 0
Shares (FD): 952,000,000 952,000,000 08/13/2025 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a 10/27/2025 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Producer Producer never n/a
Production ETA: n/a n/a 08/13/2025 n/a
Production (Gold Eq Oz.): (guess) 
365,000		 (guess) 
365,000		 09/04/2025 0
Production (Silver Eq Oz.): (guess) 
31,955,407		 (guess) 
30,183,255		 09/04/2025 -1,772,153
Development Phase: none Producer (Single Mine) 09/04/2025 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 20
Producer: Growth Potential
 20
Producer: Growth Potential
 08/15/2024 0
Cash Flow Multiple: 15 18 09/30/2025 3.00

Resource Data

GOLD 08/13/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 3.20M 3.20M 08/13/2025 0.00M
Measured & Indicated: 8.00M 8.00M 08/13/2025 0.00M
Inferred: 4.00M 4.00M 08/13/2025 0.00M
Reserves & Resources: 12.00M 12.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 2.88M 2.88M 08/13/2025 0.00M
Measured & Indicated: 6.34M 6.34M 08/13/2025 0.00M
Inferred: 1.80M 1.80M 08/13/2025 0.00M
Reserves & Resources: 8.14M 8.14M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
365,000oz.		 (guess) 
365,000oz.		 09/04/2025 0oz.
Cash Cost: $1,650 $1,750 10/27/2025 $100.00
Extra Operating Cost: $750 $750 08/13/2025 $0.00
Total: $2,400 $2,500 10/27/2025 $100.00
Margin (Free Cash Flow): $955 (28%) $1,506 (38%) $550.81
MCap / Production (AuEq): $5,051.44 $9,076.92 $4,025.48
EV / Production (AuEq): $4,489.51 $8,319.18 $3,829.68
G
R
A
D
E		 Underground (Avg): 2.30 g/t 2.30 g/t 08/13/2025 n/a
Open Pit (Avg): n/a n/a 02/03/2024 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 10/27/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: 10.00M 10.00M 08/13/2025 0.00M
Annual Production: 500,000oz. 470,000oz. 09/30/2025 -30,000oz.
Cash Cost: $1,750 $1,750 08/28/2025 $0
Extra Operating Cost: $750 $750 08/13/2025 $0
SILVER 08/13/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 08/13/2025 0.00M
Measured & Indicated: n/a n/a 08/13/2025 0.00M
Inferred: n/a n/a 08/13/2025 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 08/13/2025 0.00M
Measured & Indicated: n/a n/a 08/13/2025 0.00M
Inferred: n/a n/a 08/13/2025 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 08/13/2025 $0.00
Extra Operating Cost: n/a n/a 08/13/2025 $0.00
Total: n/a n/a 08/13/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): $57.70 $109.77 $52.07
EV / Production (AgEq): $51.28 $100.60 $49.32
G
R
A
D
E		 Underground (Avg): n/a n/a 08/13/2025 n/a
Open Pit (Avg): n/a n/a 02/03/2024 n/a
Recovery Rate: n/a n/a 08/13/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 08/13/2025 0.00M
Annual Production: n/a n/a 08/13/2025 n/a
Cash Cost: n/a n/a 08/13/2025 n/a
Extra Operating Cost: n/a n/a 08/13/2025 n/a

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
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.20M 3.20M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -15.54M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.88M 2.88M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -13.98M
Maximum Profit (Gold): $2,750.05M $4,336.39M n/a $1,586.33M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,750.05M $4,336.39M n/a $1,586.33M
Max Profit / Current MCap: 1.492 1.309 n/a -0.183
Max Profit Per Share (Gold): $2.89 $4.56 n/a $1.67
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.89 $4.56 n/a $1.67
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $640.20 $1,150.37 n/a $510.17
FD MCap / Silver Eq.: $7.31 $13.91 n/a $6.60
FD MCap / Per Metal
as % Spot Price:		 19.08% 28.72% n/a 9.64%
EV / Gold Eq.: $568.98 $1,054.34 n/a $485.36
EV / Silver Eq.: $6.50 $12.75 n/a $6.25
EV / Per Metal
as % Spot Price:		 16.96% 26.32% n/a 9.36%
Measured &
Indicated		 08/13/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 8.00M 8.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -38.84M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 6.34M 6.34M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -30.76M
Maximum Profit (Gold): $6,050.12M $9,540.05M n/a $3,489.93M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,050.12M $9,540.05M n/a $3,489.93M
Max Profit / Current MCap: 3.281 2.880 n/a -0.402
Max Profit Per Share (Gold): $6.36 $10.02 n/a $3.67
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $6.36 $10.02 n/a $3.67
Total Free Profit Per Share: $3.39 $4.71 n/a $1.32
FD MCap / Gold Eq.: $291.00 $522.90 n/a $231.90
FD MCap / Silver Eq.: $3.32 $6.32 n/a $3.00
FD MCap / Per Metal
as % Spot Price:		 8.67% 13.05% n/a 4.38%
EV / Gold Eq.: $258.63 $479.25 n/a $220.62
EV / Silver Eq.: $2.95 $5.80 n/a $2.84
EV / Per Metal
as % Spot Price:		 7.71% 11.96% n/a 4.26%

Reserves &
Resources		 08/13/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 12.00M 12.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -58.26M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 8.14M 8.14M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -39.50M
Maximum Profit (Gold): $7,768.90M $12,250.29M n/a $4,481.39M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $7,768.90M $12,250.29M n/a $4,481.39M
Max Profit / Current MCap: 4.214 3.698 n/a -0.516
Max Profit Per Share (Gold): $8.16 $12.87 n/a $4.71
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $8.16 $12.87 n/a $4.71
Total Free Profit Per Share: $5.20 $7.56 n/a $2.36
FD MCap / Gold Eq.: $226.62 $407.21 n/a $180.59
FD MCap / Silver Eq.: $2.59 $4.92 n/a $2.34
FD MCap / Per Metal
as % Spot Price:		 6.75% 10.17% n/a 3.41%
EV / Gold Eq.: $201.41 $373.22 n/a $171.81
EV / Silver Eq.: $2.30 $4.51 n/a $2.21
EV / Per Metal
as % Spot Price:		 6.00% 9.32% n/a 3.31%

Future Valuation (Cash Flow & Totals)

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