04:06 PM EST, 02/14/2025 (MT Newswires) -- Westgold Resources ( WGXRF ) said Friday afternoon its gold production and revenue rose in the six-month period ending Dec. 31.

The Australian company produced 158,255 ounces of gold in the period at an all-in sustaining cost (AISC) of A$2,562 per ounce, compared with gold production of 122,342 ounces at an AISC of A$2,093 in the first half of 2024.

Revenue rose 72% to A$624 million from A$363 million in the year-ago period.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled A$140 million, down from A$146 million a year ago. The company reported a net profit before tax of A$4.6 million, with a normalized profit before tax of A$89 million. However, the net loss after tax amounted to A$27.6 million, a decline from a net profit after tax of A$44 million in the fiscal first half of 2024.

"This half-year was a period of consolidation and strategic investment, with a focus on critical mine infrastructure and resource drilling, paving the way for long-term success. The next half is where this capital begins to generate a return and we start to see production growth and increased cash generation," Chief Executive Wayne Bramwell said.

Westgold shares closed down $0.05 to $2.16 on the Toronto Stock Exchange.