Westgold Resources Ltd · ASX:WGX
Westgold Resources — FY2024 Earnings Presentation
18 slides from Westgold Resources's earnings presentation, Aug 29, 2024
Slide 1: FY24 Full Year Results
For personal use only Westgold Resources Limited ASX:WGX | TSX:WGX | OTCQX:WGXRF FY24 Full Year Results westgold.com.au
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer Investor Presentation Summary Information This investor presentation is dated 29 August 2024, and has been prepared by Westgold Resources Limited (ASX: By reviewing or retaining these materials, or attending or participating in this presentation, you acknowledge and
Slide 3: Important Notices and Disclaimer
Important Notices and Disclaimer Forward-looking Statements September 2023 and available at www.asx.com.au. The information in this presentation that relates to the Mineral Resources and Ore Reserve of Bluebird-South Junction has been extracted from the ASX announcement This document contains “forwa
Slide 4: Important Notices and Disclaimer
Important Notices and Disclaimer JORC CODE Investment Risk It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia As noted above, an investment in shares in Westgold is subject to investment and other known and unknown comply with the JORC
Slide 5: FY24 – Year in review
FY24 – Year in review Return to meaningful profitability through focus on safe and profitable ounces Westgold delivers $95M Statutory Profit in FY24 ($M) Safety improvement 95 For personal use only Achieved revised production/cost guidance 10 Unhedged and debt free1 2.25 cps dividends declar
Slide 6: Focus on safety and sustainability delivers results
Focus on safety and sustainability delivers results Safety Sustainability Substantial reduction in Total Injury Frequency All Murchison operating mines and mills Rate (TRIFR) running on hybrid power which now can: For personal use only 22.9 Generate 82 MW (gas, battery & solar) Injuries per million
Slide 7: Top end of adjusted FY24 production guidance and bottom end of FY24 cost guidance
Top end of adjusted FY24 production guidance … 1 and bottom end of FY24 cost guidance FY24 Group YoY production down due to FY24 Actual FY23 Actual Paddy’s Flat Guidance underperformance and For personal use only closure Production (oz) 220,000-230,000 227,237 257,116 YoY AISC $/oz higher due to
Slide 8: Substantial improvement in financial metrics
Substantial improvement in financial metrics FY24 FY23 Inc/(Dec) % ($M) ($M) Revenue 716 657 9% Increased gold price and reduced For personal use only YOY hedging exposure EBITDA 271 167 62% Increased margin delivers higher NPAT 95 10 852% EBITDA, profitability and free cash flows Free Cash Flow
Slide 9: Westgold is now fully unhedged
Westgold is now fully unhedged Increased revenue driven by gold price and reduced hedging exposure Consistent increase in revenue ($M) $716M For personal use only $648M $657M Increased gold price $571M and reduced YOY $327M hedging exposure $337M $387M $658M Sales at spot price Completed fixed f
Slide 10: Lower total AISC year on year
Lower total AISC year on year Lower mining costs offset by increased sustaining capital AISC reduced by ~4% to $495M in FY24 Lower total AISC in FY24 ($M) 514 Mining suspended at Paddy’s Flat and the For personal use only completion of ore drives at Big Bell sub-level cave 495 in FY23 (67) 30 In
Slide 11: Delivering meaningful profitability
Delivering meaningful profitability Focus on safe, profitable ounces NPAT growth in FY24 ($M) Increased profit Increased profit margin driven by For personal use only improved gold price exposure (11) and reduction in operating costs (38) 95 134 Increase due to the remuneration and benefits strategy
Slide 12: $157M invested in Growth Capex in FY24
$157M invested in Growth Capex in FY24 Investing in our future FY24 Growth capex breakdown ($M) Ramp up to commercial 157 For personal use only production 10 1 July 2024 11 14 Expansion into South Junction 42 Access into 27 LHOS expansion Nightfall 23 17 Decline development 15 Starlight Capex FY24 P
Slide 13: $71M Cash Build in an investment intensive year
$71M Cash Build in an investment intensive year Six consecutive quarters of Cash, Bullion & Liquids build ($M) +$71M build in FY24 For personal use only +$16M 263 +$9M +$21M 247 238 +$25M 217 +$24M +$104M 192 +$9M 168 159 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY23 FY23 FY23 FY24 FY24 FY24 FY24 1. $100M Corporate Rev
Slide 14: Westgold's operations continue to generate FCF
For personal use only Opening 192 Cash & Bullion 8 Opening Bullion Opening 8 Investments Opening Cash 176 Revenue 714 Operating Cash Costs (429) Sustaining Capital (75) Growth Capital (128) PP&E (48) Exploration (26) $71M cash & bullion build +$71M 18 Stockpiles 68 Working Capital Lease Payments (24
Slide 15: 12% free cash flow payout ratio for FY24
12% free cash flow payout ratio for FY24 2.25 cents per share of dividend declared (1.25 cents per share fully franked) Westgold Dividend Policy1 2.25 For personal use only pay a minimum dividend of 1cps (A$0.01/share) 1.25 each financial year up to a maximum of 30% of free cash flow Subject t
Slide 16: Summary of Financial Results
Summary of Financial Results Trending in the right direction Revenue EBITDA NPAT $716M $271M $95M For personal use only 9% from FY23 62% from FY23 852% from FY23 $95M $716M $271M $77M $648M $657M $252M $571M $209M $10M $167M -$111M FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 16
Slide 17: Our FY25 platform
Our FY25 platform Leading Australian WA is Financial Gold Producer our home Strength For personal use only Among top 5, with Operating in two of Robust balance sheet production over Australia’s most with $165 million in 400,000 ozpa1 abundant gold regions available liquidity Shareholder Strategic Un
Slide 18: Contact Information
Contact Information: For personal use only Investor Relations Kasun Liyanaarachchi | Investor Relations Manager kasun.liyanaarachchi@westgold.com.au Thank you. +61 458 564 483 Media Peter Knight | Communications Manager peter.knight@westgold.com.au +61 459 980 481 ASX: WGX | TSX:WGX | OTCQX: WGXRF w