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Westgold Resources Provides Quarterly Activities Report

22 Jan 2020  |  14:00:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

Westgold Resources provided quarterly activities report stating that gold output increased by 9% Quarter-on-Quarter ("QoQ") to 62,655oz. The Company updated that its Cash Costs (C1) reduced by 3% QoQ to A$1,143/oz (US$ 796/oz) and AISC reduced 3% QoQ to A$1,361/oz (US$ 952/oz). As reported, gold sales increased by 16% QoQ to 62,031oz and Revenue increased by 16% QoQ to A$122M (US$86M). Also, mine operating cash flow increased by 55% QoQ to $40M (US$29M). The Company further updated that net mine cash flow shifted QoQ from outflow of $1m (US$0.7m) to inflow of $7m (US$5m). Positive drill results extended the down plunge continuity of Great Fingall Reef (CGO) to 2000m with results including 3.10m @ 34.05 g/t and 1.57m @ 10.1g/t.

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