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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$2456.85M which is a rise of roughly 33% over the last one months. As of 08/13/2025 they have ~A$33M debt and ~A$243.05M 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 $2,456.85M 08/13/2025 $613.07M
MCap (OS): $1,826.56M $2,433.91M 08/13/2025 $607.35M
Total Assets: $424.58M $434.02M 08/13/2025 $9.44M
Total Liabilities: $150.24M $153.57M 08/13/2025 $3.34M
Current Assets: $237.76M $243.05M 08/13/2025 $5.28M
Current Liabilities: $70.55M $72.11M 08/13/2025 $1.57M
Total Debt: $32.66M $33.39M 08/13/2025 $0.73M
Cash: $237.76M $243.05M 08/13/2025 $5.28M
Debt (Net): $-205.10M $-209.66M $-4.56M
Enterprise Value: $1,638.67M $2,247.19M 03/17/2041 $608.52M
Cash Flow: $348.53M $448.40M never $99.86M
Cash Flow Multiple: 5.29 5.48 never 0.19
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 09/04/2025 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) 
32,044,038		 09/04/2025 88,631
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 15 08/15/2024 0.00

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 $1,700 08/28/2025 $50.00
Extra Operating Cost: $750 $750 08/13/2025 $0.00
Total: $2,400 $2,450 08/28/2025 $50.00
Margin (Free Cash Flow): $955 (28%) $1,228 (33%) $273.60
MCap / Production (AuEq): $5,051.44 $6,731.09 $1,679.66
EV / Production (AuEq): $4,489.51 $6,156.68 $1,667.17
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% 09/04/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: 10.00M 10.00M 08/13/2025 0.00M
Annual Production: 500,000oz. 500,000oz. 08/13/2025 0oz.
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 $76.67 $18.97
EV / Production (AgEq): $51.28 $70.13 $18.85
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 0.78M
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 0.70M
Maximum Profit (Gold): $2,750.05M $3,538.02M n/a $787.97M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,750.05M $3,538.02M n/a $787.97M
Max Profit / Current MCap: 1.492 1.440 n/a -0.051
Max Profit Per Share (Gold): $2.89 $3.72 n/a $0.83
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.89 $3.72 n/a $0.83
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $640.20 $853.07 n/a $212.87
FD MCap / Silver Eq.: $7.31 $9.72 n/a $2.40
FD MCap / Per Metal
as % Spot Price:		 19.08% 23.19% n/a 4.11%
EV / Gold Eq.: $568.98 $780.27 n/a $211.29
EV / Silver Eq.: $6.50 $8.89 n/a $2.39
EV / Per Metal
as % Spot Price:		 16.96% 21.21% n/a 4.25%
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 1.94M
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 1.54M
Maximum Profit (Gold): $6,050.12M $7,783.65M n/a $1,733.53M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,050.12M $7,783.65M n/a $1,733.53M
Max Profit / Current MCap: 3.281 3.168 n/a -0.113
Max Profit Per Share (Gold): $6.36 $8.18 n/a $1.82
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $6.36 $8.18 n/a $1.82
Total Free Profit Per Share: $3.39 $4.31 n/a $0.92
FD MCap / Gold Eq.: $291.00 $387.76 n/a $96.76
FD MCap / Silver Eq.: $3.32 $4.42 n/a $1.09
FD MCap / Per Metal
as % Spot Price:		 8.67% 10.54% n/a 1.87%
EV / Gold Eq.: $258.63 $354.67 n/a $96.04
EV / Silver Eq.: $2.95 $4.04 n/a $1.09
EV / Per Metal
as % Spot Price:		 7.71% 9.64% n/a 1.93%

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 2.91M
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 1.98M
Maximum Profit (Gold): $7,768.90M $9,994.91M n/a $2,226.01M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $7,768.90M $9,994.91M n/a $2,226.01M
Max Profit / Current MCap: 4.214 4.068 n/a -0.145
Max Profit Per Share (Gold): $8.16 $10.50 n/a $2.34
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $8.16 $10.50 n/a $2.34
Total Free Profit Per Share: $5.20 $6.63 n/a $1.44
FD MCap / Gold Eq.: $226.62 $301.97 n/a $75.35
FD MCap / Silver Eq.: $2.59 $3.44 n/a $0.85
FD MCap / Per Metal
as % Spot Price:		 6.75% 8.21% n/a 1.45%
EV / Gold Eq.: $201.41 $276.20 n/a $74.79
EV / Silver Eq.: $2.30 $3.15 n/a $0.85
EV / Per Metal
as % Spot Price:		 6.00% 7.51% n/a 1.51%

Future Valuation (Cash Flow & Totals)

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