Westgold Resources Limited has updated its Mineral Resource Estimate and Mineral Reserve Statement as at 30 June 2026, delivering a 41% increase in Proven and Probable Mineral Reserves to 4.1 million ounces of gold across its Murchison and Southern Goldfields operations in Western Australia, post-mining depletion and non-core asset divestments.

The updated reserve position stands at 57 million tonnes at an average grade of 2.22 grams per tonne gold, compared to 1.93 grams per tonne in fiscal 2025. This 15% increase in average reserve grade marks the third consecutive year of mineral reserve growth after mining depletion, supported by gross additions of more than 1.5 million ounces achieved at an addition cost of $27 per ounce. Total group gold Mineral Resources reached 194 million tonnes at 2.30 grams per tonne for 14.4 million ounces, following growth across the streamlined portfolio after accounting for non-core asset divestments.

“Westgold's FY26 Mineral Resources and Mineral Reserves statement reflects the quality of the asset base and the breadth of our portfolio. Focused capital allocation into our largest mines continues to deliver material value, with FY26 marking a third consecutive year of Mineral Reserve growth.”

— Wayne Bramwell, Managing Director and CEO

The latest statement reflects portfolio changes following Westgold’s August 2024 acquisition of the Beta Hunt operation through its merger with Karora Resources Inc., which established the core asset for its Southern Goldfields operations. The company subsequently announced a maiden Ore Reserve of 1.1 million ounces at the emerging Fletcher deposit within Beta Hunt on August 18, 2026.

“But we did not just grow our inventory in FY26; we improved its quality, with both Resource and Reserve grades increasing year-on-year while lifting Resource confidence across the portfolio by increasing the proportion of the Measured and Indicated Resource category. Importantly, this growth was generated organically at a cost of circa $27/oz and resulted in more than 1.5Moz of gross Mineral Reserve additions.”

— Wayne Bramwell, Managing Director and CEO

To maintain inventory and extend mine lives across its existing operations, Westgold plans to invest between $50 million and $75 million in fiscal 2027 exploration and resource development drilling, backed by 26 active drill rigs deployed across the portfolio. Near-term work will target open-pit and underground conversion opportunities, alongside an underground mass-haulage study for the Fletcher deposit at Beta Hunt.

Read the full announcement: 2026 MINERAL RESOURCE ESTIMATE AND MINERAL RESERVES