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Westgold Resources
(OTC:WGX)
Westgold Resources (WGX) vs. S&P 500 (SPY)
Westgold Resources Business Overview & Revenue Model
Westgold Resources Financial Statement Overview
| Breakdown | ||||
| Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 716.47M | 654.37M | 647.58M | 571.17M | 492.27M | Gross Profit |
| 199.90M | 21.65M | 25.87M | 114.99M | 28.04M | EBIT |
| 129.44M | 7.93M | 16.49M | 106.44M | 20.68M | EBITDA |
| 279.25M | 170.22M | 34.49M | 252.37M | 184.89M | Net Income Common Stockholders |
| 95.23M | 10.00M | -111.12M | 76.75M | 34.61M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 236.04M | 176.41M | 182.70M | 150.68M | 138.71M | Total Assets |
| 1.05B | 854.94M | 869.41M | 928.24M | 796.18M | Total Debt |
| 54.61M | 27.49M | 42.96M | 45.08M | 37.83M | Net Debt |
| -181.43M | -148.92M | -139.74M | -105.61M | -100.89M | Total Liabilities |
| 360.70M | 256.60M | 281.64M | 320.88M | 274.31M | Stockholders Equity |
| 691.80M | 598.34M | 587.77M | 607.36M | 521.86M |
| Cash Flow | Free Cash Flow | |||
| 78.65M | 8.89M | -26.61M | 20.14M | -22.71M | Operating Cash Flow |
| 351.74M | 168.43M | 179.86M | 249.14M | 155.73M | Investing Cash Flow |
| -265.64M | -158.07M | -201.01M | -213.81M | -122.28M | Financing Cash Flow |
| -26.47M | -16.65M | 53.17M | -22.22M | 36.92M |
Westgold Resources Technical Analysis
Westgold Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.26B | 8.58 | 26.42% | 3.19% | 54.37% | 310.22% | |
78 Outperform | $28.52B | 23.29 | 11.01% | 2.57% | 25.11% | 28.88% | |
75 Outperform | $16.97B | 23.37 | 16.97% | 1.50% | 60.56% | 302.20% | |
74 Outperform | $3.51B | ― | -0.38% | ― | 29.83% | 93.23% | |
60 Neutral | AU$2.64B | 35.26 | 1.93% | 0.78% | 39.13% | -42.09% | |
49 Neutral | $1.96B | -1.23 | -21.20% | 3.72% | 0.95% | -28.96% |
Westgold Resources Earnings Call Summary
Westgold Resources Corporate Events
Westgold Resources Ltd, a company involved in the mining industry, has announced a change in its substantial holding in New Murchison Gold Limited. The company has increased its voting power through the acquisition of additional shares, which has implications for its influence in the company. This strategic move reflects Westgold’s ongoing efforts to strengthen its position and influence within the industry.
Westgold Resources Limited has released its Q3 FY25 quarterly results, highlighting the company’s current operational performance. The presentation is intended for informational purposes and does not constitute an offer for securities. The document includes disclaimers about the accuracy and completeness of the information and emphasizes that it should not be considered investment advice. The release also contains forward-looking statements, outlining potential risks and uncertainties that could impact future performance.
Westgold Resources Limited reported a record quarterly cash build of $80 million for Q3 FY25, driven by consistent gold production and strategic divestments. The company remains unhedged, providing full exposure to rising gold prices, and is focused on optimizing its operations and expanding its processing capacity to enhance free cash flow and margins into FY26.
Westgold Resources Limited announced significant exploration results for Q3 FY25, with 83km of drilling and $11 million invested in resource development. The company reported promising drilling outcomes at key sites such as Murchison and Southern Goldfields, indicating potential resource growth. The exploration strategy aims to expand existing mines and define new assets, enhancing Westgold’s production capabilities and cost efficiency.
Westgold Resources Limited has announced a Scoping Study for the expansion of its Higginsville Processing Plant from 1.6Mtpa to 2.6Mtpa. This expansion aims to enhance operating margins by reducing processing costs and increasing gold production from 87kozpa to between 122kozpa and 160kozpa. The study indicates a financially compelling project with a mid-point IRR of 37% and a payback period of 2.1 years, largely funded by the sale of the Lakewood Processing Plant. The expansion is expected to bring forward significant cash flow and improve the company’s competitive positioning in the Southern Goldfields.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in Westgold Resources Ltd, following a series of transactions involving the sale and purchase of securities. This change in substantial holding could impact Westgold’s shareholder structure and potentially influence its market dynamics, as the involvement of major financial entities like Mitsubishi UFJ and Morgan Stanley indicates significant interest and activity in the company’s securities.
Westgold Resources Ltd has announced that First Sentier Investors (Australia) IM Ltd has ceased to be a substantial holder in the company as of April 11, 2025. This change in substantial holding may impact the company’s shareholder structure and could influence future voting outcomes and strategic decisions.
Westgold Resources Limited has reported a change in the substantial holding of its voting securities. State Street Corporation and its subsidiaries, including State Street Bank and Trust Company, have adjusted their relevant interests in the company’s shares. This change in voting power reflects the dynamic nature of investment management and securities lending activities, which can impact the control and influence over company decisions. The announcement highlights the ongoing shifts in shareholder composition, which may affect Westgold Resources’ strategic direction and stakeholder interests.
New Murchison Gold Limited has announced that the conditions for its Ore Purchase Agreement with Westgold Resources have been met, allowing the agreement to come into full effect. This milestone supports the development of the high-grade Crown Prince open pit gold project, with key activities such as acquiring an operational base, receiving necessary permits, and ongoing drilling underway. This development is expected to strengthen NMG’s position in the gold mining industry and enhance its relationship with Westgold Resources.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in Westgold Resources Ltd, acquiring a significant voting power through its interests in Morgan Stanley and First Sentier Investors Holdings Pty Limited. This development indicates a strategic positioning by Mitsubishi UFJ in the mining sector, potentially influencing Westgold Resources’ future operations and market strategies.
Westgold Resources Ltd has announced that First Sentier Investors Holdings Pty Limited, a subsidiary of Mitsubishi UFJ Financial Group, has become a substantial holder in the company as of March 28, 2025. This development indicates a significant investment interest from First Sentier Investors, which now holds voting power over a considerable number of shares, potentially influencing the company’s strategic decisions and market position.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in Westgold Resources Ltd, as indicated in a recent notice. This change involves the sale and purchase of various securities by entities controlled by First Sentier Investors Holdings Pty Ltd and Morgan Stanley, affecting the voting rights and ownership structure within the company.
Westgold Resources Limited has completed the sale of its non-core Lakewood Milling Operation to Black Cat Syndicate Limited for $85 million. This divestment aligns with Westgold’s strategy to focus on larger, lower-cost operations, reducing its cost base and simplifying its Southern Goldfields business. The company retains priority access to process ore at Lakewood for two years, and plans to direct Beta Hunt ore to its Higginsville operation, optimizing processing and lowering costs.
Westgold Resources Limited has announced changes to its reporting structure, discontinuing separate quarterly production and cash position updates to provide simultaneous production and cost results. Additionally, exploration results will be communicated through a dedicated quarterly release. The company maintains its FY25 guidance, with specific production and cost targets for the second half of the fiscal year.
Westgold Resources has announced a change in its substantial holding status, indicating that First Sentier Investors and its associates have ceased to be substantial holders as of March 27, 2025. This change in holding could impact Westgold Resources’ shareholder structure and influence its market dynamics, potentially affecting investor relations and strategic decisions.
Westgold Resources Limited has announced that Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in the company, acquiring a 5.56% voting power through fully paid ordinary shares. This development indicates a significant investment by Mitsubishi UFJ Financial Group, Inc., potentially impacting Westgold’s market position and signaling confidence in its future prospects.
Westgold Resources Limited has released an investor presentation dated March 31, 2025, which provides a summary of the company’s activities and market positioning. The presentation emphasizes that it is not an offer or solicitation for investment but rather informational, highlighting the company’s current operations and market conditions. The document includes disclaimers about the accuracy and completeness of the information presented and notes that it contains forward-looking statements subject to various risks and uncertainties. This release is intended for informational purposes and should be considered alongside Westgold’s other public disclosures.
Westgold Resources has announced a substantial holding notice, indicating that Mitsubishi UFJ Financial Group (MUFG) indirectly holds a significant interest in Westgold through its subsidiary, First Sentier Investors Holdings Pty Limited. This development reflects MUFG’s strategic positioning in the mining sector, potentially impacting Westgold’s shareholder dynamics and market influence.
Van Eck Associates Corporation, a substantial holder in Westgold Resources Limited, has reduced its voting power from 9.21% to 8.04%, as indicated in the latest change of interest notice. This adjustment in shareholding could impact the company’s shareholder dynamics and influence its strategic decisions, reflecting a shift in investment strategy by a major stakeholder.
Westgold Resources Limited has announced a change in the interests of a substantial holder, State Street Bank and Trust Company, which now holds a significant number of voting securities in the company. This change in holdings indicates a shift in the control dynamics of the company’s voting power, potentially impacting its governance and decision-making processes.
Westgold Resources Limited announced a change in the director’s interest as Hon. Cheryl Edwardes AO acquired an additional 11,891 fully paid ordinary shares through an on-market trade, increasing her total holdings to 18,013 shares. This acquisition reflects a strategic move within the company, potentially indicating confidence in its future performance and stability, which may influence stakeholder perceptions positively.
Westgold Resources Limited has announced the sale of its non-core Lakewood Milling Operation to Black Cat Syndicate Limited for $85 million. This transaction, which includes $70 million in cash and $15 million in scrip, allows Westgold to consolidate its processing capacity and focus on expanding its Beta Hunt mine and Higginsville mill. The divestment is part of Westgold’s strategy to enhance operational efficiency and lower costs, with the expansion study results expected in March 2025.
Black Cat Syndicate Limited has entered into a binding agreement to acquire the Lakewood processing facility from Westgold Resources Limited for $85 million. This acquisition will enable Black Cat to increase its gold production capacity by 50% and accelerate its production plans by approximately 15 months, leveraging the high gold price environment. The facility’s proximity to Kalgoorlie provides access to an experienced workforce and local suppliers, reducing risks associated with new construction. The acquisition also opens opportunities for processing third-party ore and consolidating stranded assets, enhancing Black Cat’s position as a significant gold producer in Western Australia.
Westgold Resources Limited is addressing speculation regarding the potential divestment of its non-core assets, in line with its strategic portfolio review. The company is considering selling the Lakewood processing facility to focus on expanding larger, cost-effective operations, which may enhance operational efficiency and cash flow. As the review is ongoing, Westgold commits to informing the market about any definitive agreements reached.
Westgold Resources Limited released an investor presentation on February 18, 2025, providing summary information about the company’s activities. The presentation emphasizes that it is not an offer to buy or sell securities and is intended for informational purposes only. Stakeholders are advised to conduct their own assessment as the presentation does not constitute investment advice and lacks exhaustive details. The document also includes disclaimers about the accuracy and completeness of the information provided, highlighting its non-binding nature and the exclusion of liability for any inaccuracies.
Westgold Resources Limited has announced significant updates on its drilling activities at the Beta Hunt mine in Kambalda, Western Australia, specifically in the Fletcher and Mason zones. The company reported impressive drilling results from the Fletcher Zone and plans to commence drilling at the Mason Zone in the fourth quarter of fiscal year 2025. These activities are part of Westgold’s strategy to enhance its mining operations and maximize cash flow by exploring and expanding its resource base. The combined strike length of the Fletcher and Mason zones is now interpreted to be approximately 4 kilometers, indicating potential growth in ore production. A maiden mineral resource estimate for Fletcher is expected to be released later in the fiscal year.
Westgold Resources, a company operating in the mining sector, focuses on gold production and exploration activities. In its recent management discussion and analysis for the quarter ending December 31, 2024, the company highlighted key growth and corporate developments, along with environmental and social governance practices. The report details the company’s operating performance, exploration activities, and financial results, indicating a stable financial position and a positive outlook for the upcoming quarters. Stakeholders are likely to be interested in the company’s strategic direction and its commitment to sustainability and safety.
Westgold Resources Limited has released its half-year financial report for the period ending December 31, 2024. The report provides insights into the company’s financial performance, highlighting its efforts to maintain a stable financial position and enhance shareholder value. The financial data presented indicates the company’s commitment to operational efficiency and strategic growth in the competitive gold mining sector.
Westgold Resources announced a substantial financial shift for the period ending December 31, 2024. The company’s revenue surged by 72% due to an increased gold price and their acquisition of Karora Resources Inc., which significantly boosted gold production by 29%. However, despite the revenue increase, Westgold reported a net loss attributable to members of $27.56 million, a stark contrast to the previous year’s profit. This loss is largely due to increased costs and investments related to the acquisition and expanded operations. The acquisition resulted in increased assets but also drove a reduction in cash reserves. The acquisition of Karora Resources brought several subsidiaries under Westgold’s control, expanding its operational footprint in the gold mining sector.
Westgold Resources Limited has announced a General Meeting for shareholders to approve a financial assistance resolution following the acquisition of Karora Resources Inc. The meeting’s agenda includes the requirement for Karora’s subsidiaries to become guarantors under an existing financing agreement, essential for compliance with corporate regulations. This development follows the company’s efforts to strengthen its financial position by expanding its revolving corporate facility, indicating a strategic move to enhance its operations and market standing.
Westgold Resources Limited has announced a General Meeting of Shareholders on March 18, 2025, to consider a special resolution for financial assistance related to the acquisition involving Australian Karora Entities. This meeting and resolution could impact the company’s financial strategies and its stakeholders, reflecting Westgold’s potential expansion or restructuring efforts through financial agreements and transactions.
Westgold Resources Limited has announced the availability of proxy materials for its upcoming securityholders’ meeting scheduled for March 18, 2025, in Perth, Australia. The meeting will address a special resolution to approve financial assistance. Shareholders are encouraged to review the detailed information provided online before voting, which can be done via mail or online platforms. The announcement emphasizes the importance of shareholder participation to ensure substantial representation at the meeting. Non-registered shareholders are advised to follow specific instructions provided by their brokers to exercise their voting rights effectively.
Westgold Resources Limited is holding a General Meeting for its shareholders on March 18, 2025, in Perth, Australia, with the primary purpose of soliciting proxies. The company is utilizing ‘notice-and-access’ provisions to reduce costs associated with printing and mailing meeting materials, reflecting a strategic approach to shareholder engagement and resource management.