Westgold Resources (ASX:WGX) announced a record quarterly gold production following its recent merger with Karora Resources.
The company achieved a remarkable production of 77,369 ounces of gold during the first quarter of FY25.
The merger with Karora Resources, completed on Aug. 1, has significantly expanded Westgold's portfolio.
This quarter's results include three months from the Murchison operations, with 52,889 ounces, and two months from the Southern Goldfields, contributing 24,480 ounces.
If the pre-merger output from July was included, the total would have been 91,357 ounces.
Westgold’s financial standing is strengthened by $103.2 million in cash, bullion, and liquid investments, post-merger transactions.
The company also has access to an additional $100 million through its undrawn revolving corporate facility.
"In August, Westgold successfully completed a $1.4B merger that created a top 5 ASX and top 10 TSX listed gold producer," stated Wayne Bramwell, Managing Director and CEO of Westgold Resources. "We remain on track to achieve our stated full-year production guidance."
With ongoing developments in its operations, Westgold is poised for continued growth, optimising an expanded portfolio across Australia's prolific gold-producing regions.
Westgold Resources is a mid-tier gold producer and international gold company engaged in the exploration, development and operation of gold mines, primarily in Western Australia. The company owns and operates all of its underground and open pit mines.
At the time of reporting, Westgold Resources' share price was $2.53.