Westgold Resources Limited (ASX:WGX) Announces 2024 Financial Results
Financial Performance
Westgold Resources Limited (ASX:WGX) reported a 72% increase in revenue, reaching $623.95 million for the year ended 31 December 2024. Profit before tax attributable to members decreased by 93% to $4.63 million, resulting in a net loss of $27.56 million.
Operational Highlights
Gold production increased by 29% to 158,255 ounces, driven by the acquisition of Karora Resources Inc. Cash costs per ounce rose by 31% to $2,311, and all-in sustaining costs per ounce increased by 22% to $2,562.
Asset and Liabilities
Total assets grew by 180% to $2.95 billion, while liabilities increased by 189% to $1.04 billion, resulting in net assets of $1.91 billion. Net tangible assets per share rose by 39% to $2.03.
Dividend Declaration
A fully franked dividend of 1.25 cents per share was declared and paid.
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