Westgold Resources Limited has updated its Mineral Resource Estimate and Ore Reserve Statement as of 30 June 2026, delivering a 41% increase in total Ore Reserves to 57 million tonnes at 2.22 grams per tonne gold for 4.1 million ounces.

The latest statement marks the third consecutive year of Reserve growth after mining depletion. Average Ore Reserve grades rose 15% from 1.93 grams per tonne in fiscal 2025. Westgold generated more than 1.5 million ounces of gross Ore Reserve additions organically at an investment cost of $27 per ounce, backed by approximately $42 million in exploration and resource development expenditure.

Total group gold Mineral Resources grew 8% year-on-year to 194 million tonnes at 2.30 grams per tonne gold for 14.4 million ounces, after adjusting for non-core asset divestments totaling 3 million ounces. Resource quality also improved, with Measured and Indicated Resources increasing to 62.6% of the total inventory compared to 56.6% previously.

“Westgold's FY26 Mineral Resources and Ore 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 Ore Reserve growth.”

— Wayne Bramwell, Managing Director and CEO

“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

At the Southern Goldfields project, total Beta Hunt Ore Reserves reached 21.7 million tonnes at 2.34 grams per tonne gold for 1.6 million ounces, representing a 201% increase since the asset was acquired in August 2024. The growing inventory is underpinned by the maiden Fletcher Ore Reserve of 1.1 million ounces, with Westgold currently advancing a 4 million tonnes per annum processing expansion study for Beta Hunt.

To support further conversion and inventory expansion, Westgold is deploying 26 active drill rigs across its portfolio and plans to invest between $50 million and $75 million in fiscal 2027 exploration and resource development drilling, subject to operational priorities, market conditions, and Board approval.

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