Westgold Resources Ltd · ASX:WGX
Westgold Resources — Mining Forum Americas 2025
27 slides from Westgold Resources's conference presentation, Sep 15, 2025
Slide 1: Mining Forum Americas 2025
For personal use only Mining Forum Americas 2025 westgold.com.au ASX | TSX : WGX
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer Investor Presentation This presentation is in summary form and does not purpose to be exhaustive. Westgold makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completeness of the information in this presentation. Westg
Slide 3: Important Notices and Disclaimer
Important Notices and Disclaimer Ore Reserves and Mineral Resources The information in this presentation that relates to the Ore Reserves and Mineral Resources of Westgold has been extracted This presentation contains references to estimates of Mineral Resources and Ore Reserves. The estimation of M
Slide 4: Westgold value proposition
Westgold value proposition Unhedged, top 5 ASX / top 10 TSX Australian gold producer A$3.5Bn A$364M Market Cap1 Cash, bullion & liquids2 For personal use only Four processing hubs in Western Australia - Group milling capacity of ~6Mtpa 16.3Moz Au 3.5Moz Au Mineral Resource3 Ore Reserve3 Grade
Slide 5: Corporate
Corporate Shares Outstanding1 944.7M A$4.00 Westgold ASX : WGX share price performance A$3.75 Market Capitalisation1 A$3.5Bn A$3.50 Average daily trading volume1 4.7M A$3.00 Cash, bullion & liquid investments2 A$364M A$2.50 For personal use only Drawn debt2 A$50M A$2.00 Debt facility2 A$300M Jul 24
Slide 6: Two WA goldfields - four processing hubs
Two WA goldfields - four processing hubs 3 processing hubs - 4.1Mtpa capacity FY25 Production - 197koz @ A$2,609/oz AISC 9.7Moz @ 2.3g/t Mineral Resource & MEEKATHARRA For personal use only 2.4Moz @ 2.1g/t Ore Reserve CUE 1,200km2 of tenure 1 processing hub - 1.6Mtpa capacity FY25 Produc
Slide 7: FY25 was challenging but transformational
FY25 was challenging but transformational In FY25 WGX: Slow ramp-up of Bluebird-South Junction delayed value realisation Closed TSX:KRR transaction 110 100 FY25 guidance Peer average* - 96% 90 downgrade and For personal use only Drilled Fletcher Zone at Beta 80 Q2 FY25 results Hunt 70 Price move
Slide 8: Grade key to enhancing FCF
Grade key to enhancing FCF Indicative change in feed mix at Westgold’s 4 processing hubs (%) Stockpile Stockpile Fender Two Boys Stockpile Fender Stockpile Great Fingall Stockpile Lake Cowan Stockpile For personal use only Ore Purchase Two Boys Fender Lake Cowan Fender Big Bell Starlight Big Bell St
Slide 9: Consistent operational delivery = more FCF in FY26
Consistent operational delivery = more FCF in FY26 Murchison Southern Goldfields Portfolio For personal use only Expand Bluebird-South Junction Beta Hunt to >2Mtpa - without Drill, drill, drill to underpin Meekatharra Fletcher A$50M in resource Great Fingall starts - brings grade Expand
Slide 10: The Murchison
For personal use only The Murchison 10
Slide 11: Starlight & Fortnum – mill and mine grades lifting
Starlight & Fortnum – mill and mine grades lifting Established underground mine matched to 0.9Mtpa mill For personal use only Mining multiple high grade zones in Starlight UG (Galaxy, Nightfall) lifting mill grade New UG fleet increasing mining rates and productivity 3 underground drills in
Slide 12: Building out South-Junction UG to a multi-decade asset
Building out South-Junction UG to a multi-decade asset For personal use only Targeting 1 – 1.2Mtpa by end of FY26 Higher grade underground - transitioning to predominantly longitudinal open stoping Majority of FY26 - already grade control drilled Paste fill online - enabling 100% orebody ext
Slide 13: HG oxide to Meekatharra hub
HG oxide to Meekatharra hub 1 Crown Prince (high grade oxide pit) - 33km from Crown Prince Westgold processing infrastructure Pit operated by New Murchison Gold (ASX:NMG) For personal use only – ore being delivered to Bluebird hub under ore purchase agreement with Westgold Bluebird-South 30-50
Slide 14: Great Fingall – a "new" HG underground mine
Great Fingall – a “new” HG underground mine 2 historic and high-grade undergrounds in one Development targeting ~0.5Mtpa at steady state For personal use only Mining commenced - Barminco commenced operations in September Decline pushes on to virgin stoping areas Great Fingall and Golden Cr
Slide 15: Southern Goldfields
For personal use only Southern Goldfields 15
Slide 16: Beta Hunt – doing it right
Beta Hunt – doing it right Infrastructure upgrades to see Beta Hunt outputs lift towards 2Mtpa Beta Hunt quarterly production increases since Westgold ownership (tonnes mined kt) Two months production reported by Westgold Ownership For personal use only Westgold post merger 407kt 383kt 357kt 360kt ~
Slide 17: Beta Hunt – expansion to >2Mtpa
Beta Hunt – expansion to >2Mtpa Unleash the beast Clean water supply Formidable pit pumping & piping delivers For personal use only reliable clean water supply - completed Increase pumping capacity out of the mine from 20l/s to 50l/s – pump install commenced Primary vent upgrades Added two
Slide 18: Fletcher – how big can it be?
Fletcher – how big can it be? Maiden Fletcher Resource of 31Mt @ 2.3g/t for 2.3Moz1 Effectively doubles the September 2024 Beta Hunt Mineral Resource For personal use only Significant opportunity for resource extensions MRE drilling only tested 1km of the known 2km strike of Fletcher Stage
Slide 19: WGX - what's ahead?
For personal use only WGX - what's ahead? 19
Slide 20: FY26 at a glance
FY26 at a glance FY25 Actual FY26 Guidance Production (oz)1 326,384 345,000 – 385,000 For personal use only AISC (A$/oz)2 2,666 2,600 – 2,900 Non-sustaining capital (A$M) 199 270 Exploration (A$M) 43 50 Multi-year outlook expected in coming weeks 1. Westgold’s FY26 production guidance assumes ~15,00
Slide 21: Increasing shareholder returns
Increasing shareholder returns Dividend declared for FY25 - share buyback in FY26 Dividends declared under the FY25 FY26 Dividend policy FY26 on-market Dividend Policy share buy-back1 A$28.3M Increase the minimum For personal use only (3cps) dividend per Westgold Share from 1cps (FY25 policy) to 2
Slide 22: The FY26 plan - consistent operational delivery
The FY26 plan - consistent operational delivery Murchison Southern Goldfields Portfolio For personal use only Expand Bluebird-South Junction Beta Hunt to >2Mtpa - without Leverage milling infrastructure to underpin Meekatharra Fletcher Debottleneck / expand Great Fingall starts - brings gr
Slide 23: Thank you
For personal use only Investor Relations & Media Kasun Liyanaarachchi Group Manager Investor Relations & Communications Kasun.Liyanaarachchi@westgold.com.au +61 458 564 483 Thank you ASX / TSX: WGX www.westgold.com.au 23
Slide 24: Mineral Resource Statement: Operating Mines
Mineral Resource Statement: Operating Mines At 30 June 2025 [1] Murchison Gold Operations (Rounded for reporting) Measured Indicated Measured and Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Project Grade Grade Grade Grade Grade ('000s) Au ('000s) ('
Slide 25: Mineral Resource Statement: Non-Operating Projects
Mineral Resource Statement: Non-Operating Projects At 30 June 2025 [1] Murchison Gold Operations (Rounded for reporting) Measured Indicated Measured and Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Tonnes Ounces Project Grade Grade Grade Grade Grade ('000s) Au ('0
Slide 26: Ore Reserves Statement: Operating Mines
Ore Reserves Statement: Operating Mines At 30 June 2025 [1] Murchison Gold Operations (Rounded for reporting) Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell UG 4,997 1.71 275 4,776 2.90 446 9
Slide 27: Ore Reserves Statement: Non-Operating Projects
Ore Reserves Statement: Non-Operating Projects At 30 June 2025 [1] Murchison Gold Operations (Rounded for reporting) Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell District 0 0.00 0 75 2.76 7