Westgold Resources Limited (WGX) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the Westcold Resources Q1 FY26 quarterly results investor update webcast. Your first speaker for today is Wayne Bramwell, Managing Director and CEO. I'll now hand you over to Wayne. Thank you Shane and welcome everyone joining us today. On the call today I have Aaron Rankin, our Chief Operating Officer and Tommy Heng, our Chief Financial Officer. Today I'll provide a quick overview of the Q1 FY26 results. After that, Aaron and Tommy will each share an overview of their areas and then we'll open the webinar up for questions. Let's jump straight in. Slide 4. Q1 marks a strong start to the new financial year. We delivered 83,937 ounces of gold at an all-in sustaining cost of $2,861 an ouch. which is in line with our guidance. Importantly, we generated an underlying cash build of $180 million and closed the quarter with $472 million in cash, bullion and liquid investments. This quarter also saw the release of our three-year outlook, which outlines a clear pathway to 470,000 ounces of annual production by FY28, while reducing our cost profile. This outlook is supported by a 24% increase in mineral resources to 16.3 million ounces and a 5% increase in oil reserves to 3.5 million ounces, reinforcing the long-term strength of our portfolio. Key to our value proposition is increasing returns to our shareholders. During the quarter, we declared a $0.03 per share final dividend for FY25, upgraded our dividend policy for FY26 and launched a 5% on-market share buyback program. All in all, Q1 FY26 sets a solid foundation for the year ahead. With strong financials, growing reserves and a clear growth strategy, Westgold is well positioned to deliver its organic growth plans. Let's move to the next slide, slide 5. Our total recordable injury frequ...