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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$3400.3M which is a rise of roughly 84% over the last three months. As of 08/13/2025 they have ~A$33M debt and ~A$307.08M 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 $3,400.30M 08/13/2025 $1,556.53M
MCap (OS): $1,826.56M $3,368.55M 08/13/2025 $1,541.99M
Total Assets: $424.58M $422.88M 08/13/2025 $-1.70M
Total Liabilities: $150.24M $149.64M 08/13/2025 $-0.60M
Current Assets: $237.76M $307.08M 10/27/2025 $69.31M
Current Liabilities: $70.55M $70.26M 08/13/2025 $-0.28M
Total Debt: $32.66M $32.53M 08/13/2025 $-0.13M
Cash: $237.76M $307.08M 10/27/2025 $69.31M
Debt (Net): $-205.10M $-274.55M $-69.44M
Enterprise Value: $1,638.67M $3,125.75M 01/18/2069 $1,487.08M
Cash Flow: $348.53M $542.72M never $194.19M
Cash Flow Multiple: 5.29 6.27 never 0.98
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) 
30,361,405		 09/04/2025 -1,594,002
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%) $1,487 (37%) $532.03
MCap / Production (AuEq): $5,051.44 $9,315.90 $4,264.46
EV / Production (AuEq): $4,489.51 $8,563.71 $4,074.20
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 $111.99 $54.30
EV / Production (AgEq): $51.28 $102.95 $51.67
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 -13.97M
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 -12.58M
Maximum Profit (Gold): $2,750.05M $4,282.30M n/a $1,532.25M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,750.05M $4,282.30M n/a $1,532.25M
Max Profit / Current MCap: 1.492 1.259 n/a -0.232
Max Profit Per Share (Gold): $2.89 $4.50 n/a $1.61
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.89 $4.50 n/a $1.61
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $640.20 $1,180.66 n/a $540.46
FD MCap / Silver Eq.: $7.31 $14.19 n/a $6.88
FD MCap / Per Metal
as % Spot Price:		 19.08% 29.61% n/a 10.53%
EV / Gold Eq.: $568.98 $1,085.33 n/a $516.35
EV / Silver Eq.: $6.50 $13.05 n/a $6.55
EV / Per Metal
as % Spot Price:		 16.96% 27.22% n/a 10.26%
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 -34.94M
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 -27.67M
Maximum Profit (Gold): $6,050.12M $9,421.06M n/a $3,370.94M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,050.12M $9,421.06M n/a $3,370.94M
Max Profit / Current MCap: 3.281 2.771 n/a -0.511
Max Profit Per Share (Gold): $6.36 $9.90 n/a $3.54
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $6.36 $9.90 n/a $3.54
Total Free Profit Per Share: $3.39 $4.41 n/a $1.02
FD MCap / Gold Eq.: $291.00 $536.66 n/a $245.66
FD MCap / Silver Eq.: $3.32 $6.45 n/a $3.13
FD MCap / Per Metal
as % Spot Price:		 8.67% 13.46% n/a 4.79%
EV / Gold Eq.: $258.63 $493.33 n/a $234.70
EV / Silver Eq.: $2.95 $5.93 n/a $2.98
EV / Per Metal
as % Spot Price:		 7.71% 12.37% n/a 4.66%

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 -52.41M
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 -35.53M
Maximum Profit (Gold): $7,768.90M $12,097.50M n/a $4,328.60M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $7,768.90M $12,097.50M n/a $4,328.60M
Max Profit / Current MCap: 4.214 3.558 n/a -0.656
Max Profit Per Share (Gold): $8.16 $12.71 n/a $4.55
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $8.16 $12.71 n/a $4.55
Total Free Profit Per Share: $5.20 $7.22 n/a $2.02
FD MCap / Gold Eq.: $226.62 $417.93 n/a $191.31
FD MCap / Silver Eq.: $2.59 $5.02 n/a $2.44
FD MCap / Per Metal
as % Spot Price:		 6.75% 10.48% n/a 3.73%
EV / Gold Eq.: $201.41 $384.19 n/a $182.78
EV / Silver Eq.: $2.30 $4.62 n/a $2.32
EV / Per Metal
as % Spot Price:		 6.00% 9.64% n/a 3.63%

Future Valuation (Cash Flow & Totals)

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