Westgold Resources Ltd ( (WGXRF) ) has released its Q4 earnings. Here is a breakdown of the information Westgold Resources Ltd presented to its investors.
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Westgold Resources Ltd, a prominent ASX200 gold producer, operates primarily in Western Australia, focusing on exploration, development, and operation of gold mines. The company recently expanded its portfolio through a merger with Karora Resources, enhancing its position in the Southern Goldfields and Murchison regions.
In its latest earnings report, Westgold Resources Ltd highlighted a transformative year with record gold production of 326,384 ounces and a significant increase in revenue by 90% to $1.36 billion. Despite a decrease in profit after tax by 63% to $35 million, the company maintained a strong balance sheet with $364 million in cash, bullion, and liquid investments.
Key financial metrics showed a rise in consolidated revenue and an increase in total cost of sales by 101%. The company also reported an adjusted EBITDA increase of 83% to $498 million. The merger with Karora Resources was a pivotal move, contributing to the company’s expanded operational footprint and increased production capacity.
Looking forward, Westgold Resources Ltd aims to leverage its expanded asset base for sustainable high-margin production. The company plans to continue investing in exploration to extend mine life and enhance operational efficiency, positioning itself for long-term growth in the gold sector.