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Westgold Resources Provides Trading Update

02 Jul 2020  |  12:53:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Westgold Trading Update

Westgold Resources updated that gold sales for the quarter across the group were 65,000oz. As reported, the Company has closed the year with cash of $137m (unaudited) reflecting a strong cash build with solid contributions from its operations, a net $42.5m from a placement and the divestment of non-core assets. The Company is well positioned for growth in the region with its strong portfolio of internal mining options and regional processing control. As reported, the Big Bell mine has produced 38,000t in June corresponding to a run-rate of 460,000 tpa and just short of the groups 500,000 tpa expectation. The Company further updated that it has repaid its outstanding gold-loan debt in full.

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