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Calibre Mining Corp. (CXB)
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OceanaGold Corporation (OGC)
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Torex Gold Resources Inc. (TXG)
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Westgold Resources Limited Ordinary shares (WGX)
Q: Could I please have your comments on the latest quarterly report from Westgold Resources - somewhat disappointing in view of some of the optimistic press releases they put out . Are they perhaps having problems in integrating the Karora operations ? Are they a buy , sell or hold ? Is there a better gold miner of a similar size in your view ?
5i Research Answer:
WGX produced 80,107 ounces of gold, and AISC was $2,829 per ounce. It generated A$363M through the sale of 78,398 oz of gold at an average price of A$4,630 per ounce. It maintained its FY2025 production guidance of 330,000 to 350,000 ounces and AISC guidance of $2,400 to $2,600. It may be facing some challenges that impacted its production guidance that are related to Beta Hunt and Bluebird-South Junction mines, which were acquired through its merger with Karora Resources.
WGX is cheap, but its momentum is weak, and for an alternative mid-tier gold miner, we like: CXB, OGC, TXG.