Westgold Resources Limited has updated its Mineral Resource Estimate and Ore Reserves as at 30 June 2026, delivering a 41% increase in total Ore Reserves to 4.1 million ounces at a reserve addition cost of $27 per ounce, following mining depletion and adjustments for non-core asset divestments.

The latest statement marks the third consecutive year of Reserve growth for Westgold. The company lifted its Ore Reserve grade by 15% to 2.22g/t Au compared to 1.93g/t Au in FY25. Total group gold Mineral Resources grew by 8% year-on-year to reach 14.4 million ounces across 194 million tonnes at 2.30g/t Au, after accounting for the divestment of non-core assets including Peak Hill, Reedy’s, Comet, Chalice, and Mount Henry.

Resource quality also improved across the portfolio. Measured and Indicated Resources increased to 62.6% of the total resource inventory, up from 56.6% in the previous financial year. Average resource grades rose from 2.18g/t Au in FY25 to 2.30g/t Au in FY26, maintaining approximately 10 years of reserve inventory at current group processing capacity.

“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 Ore Reserve additions.”

— Wayne Bramwell, Managing Director and CEO

The portfolio changes follow Westgold's board-approved Final Investment Decision in March 2026 committing $145 million to expand the Higginsville Processing Hub from 1.6Mtpa to nominally 2.6Mtpa. Westgold is also completing a separate 4Mtpa processing expansion study for the Beta Hunt complex.

To support ongoing conversion and growth, Westgold has 26 drill rigs active across its surface and underground operations. The company plans an investment of $50 million to $75 million in FY27 exploration and resource development, subject to board approval and operational priorities.

Managing Director and CEO Wayne Bramwell noted that the planned FY27 exploration investment and active drill fleets are designed to convert the company's large resource base into higher-confidence reserves while extending mine life.

Read the full announcement: 2026 Mineral Resource Estimate and Ore Reserves