ASX- and TSX-listed Westgold Resources has unveiled a three-year plan to lift its yearly gold production from 326 000 oz in 2025 to 470 000 oz by the 2028 financial year, while cutting costs and fully funding the expansion from internal cash flows.

The outlook, described as “conservative by design”, is underpinned by the company’s existing ore reserves of 3.5-million ounces and processing capacity of about six-million tonnes a year. It excludes potential upside from the emerging Fletcher zone at Beta Hunt and other growth options.

MD and CEO Wayne Bramwell said the plan provided a step change for the business. “Westgold's three-year outlook articulates a high confidence, executable plan that sees the business step up from 326 000 oz of production in FY25 to more than 470 000 oz by FY28,” he commented.

“It provides a baseline for a larger, more profitable and sustainable gold producer. Most critically this growth is organic and fully funded.”

The company’s four processing hubs – Meekatharra, Higginsville, Cue and Fortnum – are expected to run at full capacity over the period. Growth capital spending is set to peak in the 2027 financial year with a proposed expansion of the Higginsville hub to 2.6-million tonnes a year.

By 2028, Westgold expects to deliver 470 000 oz/y at all-in sustaining costs (AISC) of about A$2 500/oz, down from A$2 666/oz in 2025.

Bramwell said consistent delivery from higher-grade mine outputs would be central to lowering costs and lifting margins. “The outlook is underpinned by realistic production forecasts, cost assumptions and focuses on maximising the performance of our existing processing infrastructure to drive our costs down,” he said.

The three-year outlook also flagged further opportunities not factored into the base case, including a potential larger Higginsville expansion to four-million tonnes a year, resource growth at Bluebird-South Junction and productivity improvements.

Westgold described the plan as the first multi-year view of its business, giving shareholders, employees and stakeholders “a clear plan for the company’s objectives and trajectory over the next three years”.

The company's stock rose 10% to A$4.96 a share.