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Western Gold Resources Ltd. ( (AU:WGR) ) just unveiled an update.
Western Gold Resources has secured board approval to commence mining at its 100%-owned Gold Duke Project, with mobilisation and site establishment scheduled for the first quarter of 2026. The company is now fully funded through to production after raising $6.75 million in an oversubscribed placement backed by institutional investors and arranging a deferred payment facility with mining contractor SSH Mining. An updated Mineral Resource Estimate for Gold Duke now stands at 4.8 million tonnes at 1.8 grams per tonne gold for 277,000 ounces, while early results from a 35,300-metre grade control and infill drilling program at Eagle South, Gold King and Golden Monarch confirm the accuracy of the geological model and strong grade continuity. The Golden Monarch deposit, which accounts for roughly a third of the ounces in the Scoping Study, continues to return high-grade, consistent intercepts, bolstering confidence in early-stage mine production and financial outcomes. The latest Scoping Study outlines a production target of 42,800 ounces of gold from 686,000 tonnes at 2.1 grams per tonne, with an illustrative undiscounted cash surplus of A$109.7 million at a A$5,800/oz gold price, representing a 64% increase on the previous estimate and materially enhancing the project’s value proposition for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
More about Western Gold Resources Ltd.
Western Gold Resources Ltd (ASX: WGR) is an Australian gold exploration and development company focused on advancing its 100%-owned Gold Duke Project, which hosts a growing gold resource in Western Australia. The company targets near-term gold production through open-pit mining, supported by grade control and infill drilling to refine its resource model and underpin mine planning and economic studies.
Average Trading Volume: 988,968
Technical Sentiment Signal: Buy
Current Market Cap: A$70M
Learn more about WGR stock on TipRanks’ Stock Analysis page.