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WestGold Nosedives Amid Lower Output; However, MGO Production Returns to Expected Level

  • October 24, 2019 01:31 PM AEDT
  • Team Kalkine

WestGold Resources Limited (ASX: WGX) gold output for the September 2019 quarter stood at 57,472 ounces at a C1 or a cash cost of $1,173 per ounce and an all-in sustaining cost (AISC) of $1,410 per ounce.

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  • The gold output for the group remained 9 per cent outside the physical guidance; however, surpassed the fiscal (range midpoint) by 7 per cent for cash cost and 2 per cent for AISC.
  • The Meekatharra Gold Operations (or MGO) production returned to the expected level of the company amid commencing of a secondary crusher which increased the plant throughput and recovery of underground head grades from the dilution impacts experienced by the WGX in the previous quarter.
  • The gold operation generated a Mine operating cash flow of $25.3 million, and the realised price for the quarter stood at $1,959 per ounce.

The stock tumbled on ASX to trade at $2.025 (1:25 PM AEST), down 1.22 per cent from its previous close.

 


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