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Westgold primed for uptick in gold

July 15, 2020

Westgold primed for uptick in gold

With gold currently up 18% YTD and outperforming many asset classes, it looks like the precious metal’s time has come again. Westgold (ASX: WGX), one of Australia’s top 10 gold producers, is primed for the uptick.

With gold currently up 18% YTD and outperforming many asset classes, it looks like the precious metal’s time has come again. Westgold (ASX: WGX), one of Australia’s top 10 gold producers, is primed for the uptick.

Operating from Central Murchison in Western Australia, a region with a prolific historic gold production of 10 million ounces, Westgold produces 250,000 to 300,000 ounces of gold each year.

The company closed the last financial year debt free with $137 million in cash and 65,000 ounces in quarterly gold sales. 

18 months ago, Westgold also reorganised, divesting in high-cost older operations. Since then, Westgold is up 175%.

Going forward, it’s expecting to see a quarterly improvement on the bottom line and it’s aiming for dividends with a payout ratio at 30% of NPAT.

As Westgold moves into free cash flow, it’s well positioned to grow its operations in Murchison. 

Did you miss the latest Meet the CEO session? Watch the video to catch up on the latest news from Westgold’s Executive Chairman, Peter Cook.

Join next week’s  ‘Meet The CEOs’ webcast – Click here to book your spot.


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