2323 GMT - Ord Minnett had expected Westgold to cut its annual gold-production guidance--but not by this much. Westgold now expects top produce 330,000-350,000 oz of gold in FY 2025, down from a prior projection of 400,000-420,000 oz. It also expects to dig up gold at a higher cost, forecasting all-in sustaining costs of A$2,400-A$2,600/oz. "This is a larger downgrade than we had anticipated and significantly higher than consensus," analyst Paul Kaner says. Ord Minnett's buy call on the stock is under review as it digests the latest report. Westgold's share price is down 12% at A$2.27 today. "There could be a cheaper entry point in the near term for some that can get comfort on the ramp-up at Beta Hunt/Bluebird," Kaner says, referring to Westgold's projects. "However, for the majority of investors delivery at Beta Hunt will need to be seen first." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 02, 2025 18:23 ET (23:23 GMT)
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