Westgold Q1 FY27 slides: production on track, reserves jump 41%

Westgold Resources (ASX:WGX | TSX:WGX) reported its Q1 fiscal 2027 results on October 21, 2026, maintaining production levels while boosting its reserve base. The Australian gold producer generated 98,400 ounces with an all-in sustaining cost of $2,912 per ounce, meeting guidance and increasing treasury to over $1 billion. Shares rose 3.42% to $5.14, though still below its 52-week high of $8.16.

The company's reserve base expanded 41% to 4.1 million ounces, including a maiden 1.1 million ounces at the Fletcher Zone. Westgold achieved production consistency across its four Western Australian processing hubs, delivering 98,400 ounces in line with the previous quarter's output. All-in sustaining costs were below the company's guided range of $2,980 to $3,380 per ounce, generating an AISC margin of $3,117 per ounce.

The company's treasury position strengthened to $1.04 billion, while operating cash flow totaled $292 million. Management reiterated its 4-5-6 growth strategy, aiming for 500,000 ounces annual production by FY29 through a fully funded expansion plan built on four operating processing hubs and the potential to increase production to over 600,000 ounces through the Fletcher Zone development.