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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$3298.32M which is a rise of roughly 79% over the last three months. As of 08/13/2025 they have ~A$33M debt and ~A$308.84M 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 $3,298.32M 08/13/2025 $1,454.55M
MCap (OS): $1,826.56M $3,267.52M 08/13/2025 $1,440.96M
Total Assets: $424.58M $425.31M 08/13/2025 $0.73M
Total Liabilities: $150.24M $150.49M 08/13/2025 $0.26M
Current Assets: $237.76M $308.84M 10/27/2025 $71.07M
Current Liabilities: $70.55M $70.67M 08/13/2025 $0.12M
Total Debt: $32.66M $32.72M 08/13/2025 $0.06M
Cash: $237.76M $308.84M 10/27/2025 $71.07M
Debt (Net): $-205.10M $-276.12M $-71.02M
Enterprise Value: $1,638.67M $3,022.20M 10/07/2065 $1,383.53M
Cash Flow: $348.53M $544.42M never $195.89M
Cash Flow Multiple: 5.29 6.06 never 0.77
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) 
30,239,167		 09/04/2025 -1,716,240
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%) $1,492 (37%) $536.69
MCap / Production (AuEq): $5,051.44 $9,036.50 $3,985.06
EV / Production (AuEq): $4,489.51 $8,279.99 $3,790.49
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 $109.07 $51.38
EV / Production (AgEq): $51.28 $99.94 $48.66
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 -15.05M
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 -13.54M
Maximum Profit (Gold): $2,750.05M $4,295.72M n/a $1,545.67M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,750.05M $4,295.72M n/a $1,545.67M
Max Profit / Current MCap: 1.492 1.302 n/a -0.189
Max Profit Per Share (Gold): $2.89 $4.51 n/a $1.62
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.89 $4.51 n/a $1.62
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $640.20 $1,145.25 n/a $505.05
FD MCap / Silver Eq.: $7.31 $13.82 n/a $6.51
FD MCap / Per Metal
as % Spot Price:		 19.08% 28.69% n/a 9.61%
EV / Gold Eq.: $568.98 $1,049.37 n/a $480.39
EV / Silver Eq.: $6.50 $12.67 n/a $6.17
EV / Per Metal
as % Spot Price:		 16.96% 26.29% n/a 9.33%
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 -37.62M
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 -29.79M
Maximum Profit (Gold): $6,050.12M $9,450.59M n/a $3,400.47M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,050.12M $9,450.59M n/a $3,400.47M
Max Profit / Current MCap: 3.281 2.865 n/a -0.416
Max Profit Per Share (Gold): $6.36 $9.93 n/a $3.57
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $6.36 $9.93 n/a $3.57
Total Free Profit Per Share: $3.39 $4.63 n/a $1.24
FD MCap / Gold Eq.: $291.00 $520.57 n/a $229.57
FD MCap / Silver Eq.: $3.32 $6.28 n/a $2.96
FD MCap / Per Metal
as % Spot Price:		 8.67% 13.04% n/a 4.37%
EV / Gold Eq.: $258.63 $476.99 n/a $218.36
EV / Silver Eq.: $2.95 $5.76 n/a $2.80
EV / Per Metal
as % Spot Price:		 7.71% 11.95% n/a 4.24%

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 -56.42M
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 -38.26M
Maximum Profit (Gold): $7,768.90M $12,135.41M n/a $4,366.51M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $7,768.90M $12,135.41M n/a $4,366.51M
Max Profit / Current MCap: 4.214 3.679 n/a -0.534
Max Profit Per Share (Gold): $8.16 $12.75 n/a $4.59
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $8.16 $12.75 n/a $4.59
Total Free Profit Per Share: $5.20 $7.45 n/a $2.26
FD MCap / Gold Eq.: $226.62 $405.40 n/a $178.78
FD MCap / Silver Eq.: $2.59 $4.89 n/a $2.30
FD MCap / Per Metal
as % Spot Price:		 6.75% 10.16% n/a 3.40%
EV / Gold Eq.: $201.41 $371.46 n/a $170.05
EV / Silver Eq.: $2.30 $4.48 n/a $2.18
EV / Per Metal
as % Spot Price:		 6.00% 9.31% n/a 3.30%

Future Valuation (Cash Flow & Totals)

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