0023 GMT - Drivers of Westgold's downgrade to FY 2025 production guidance are likely to spill into the following year as well, reckons Macquarie. Westgold expects to produce 330,000-350,000 oz of gold in FY 2025, down from a prior projection of 400,000-420,000 oz. It expects to dig up gold at a higher cost, forecasting all-in sustaining costs, or AISC, of A$2,400-A$2,600/oz. "We also assume the slower ramp-up of Bluebird and Beta Hunt, and softer grades at Big Bell, carry over into FY 2026 and cut production 10% while AISC lifts 4%," says Macquarie, referring to Westgold's mines. Still, Macquarie's revised outlook equates to a 32% year-over-year increase in production in FY 2026. It retains an outperform call on Westgold's stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 03, 2025 19:23 ET (00:23 GMT)
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