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Western Gold Resources Ltd. ( (AU:WGR) ) just unveiled an announcement.
Western Gold Resources has approved a formal Decision to Mine at its Gold Duke Project in Western Australia, marking a strategic shift from exploration and development to becoming a near-term gold producer. The decision follows completion of a 35,000m close-spaced grade control and infill drilling program, updated geological modelling and mine scheduling across the Stage 1 pits, which have demonstrated strong continuity between new and historical data, supporting accurate ore boundary definition, higher confidence in pit optimisation and the potential for resource upgrades. With all key regulatory approvals in place, a binding toll-milling agreement secured with a nearby processing plant, a preferred mining contractor identified, and funding to production supported by a recent A$6.75 million placement and a planned deferred payment facility, the project is now operationally and financially positioned for mobilisation and site establishment in the first quarter of 2026 and updated mineral resource models expected before the end of 2025.
More about Western Gold Resources Ltd.
Western Gold Resources Ltd. is an Australian gold company focused on advancing its 100%-owned Gold Duke Project in Western Australia from exploration and development into near-term production. The company operates within the gold mining industry, targeting open-pit deposits and leveraging toll-milling agreements to access existing processing infrastructure while maintaining a relatively low-capital development profile.
Average Trading Volume: 760,577
Technical Sentiment Signal: Buy
Current Market Cap: A$53.96M
See more insights into WGR stock on TipRanks’ Stock Analysis page.