Operator
Hello, and welcome to the Westgold Resources December 2025 Quarterly Report Call. Our presenter today is Wayne Bramwell, Managing Director and CEO. We’ll answer questions at the end of the presentation, but you can type them and submit them at any time.
Over to you, Wayne.
Wayne Bramwell
CEO, MD & Executive Director
Thank you, Steve, and hello to everyone on the call. Thank you for taking the time to dial in today. With me on the call, I have Aaron Rankine, our Chief Operating Officer; and Tommy Heng, our Chief Financial Officer. I’ll provide a quick overview of what has been another record quarter for Westgold before handing over to Tommy and Aaron to discuss the financial and operating results. Let’s get into it. Slide 4. Our second quarter features a record cash build, record gold production, and we achieved a record gold price. Let’s unpack that. How did we achieve this? In Q2, we generated an underlying cash build of $365 million, double the $180 million underlying cash build of Q1. Our treasury includes cash, bullion and liquid investments. This increased by $182 million for the quarter, net of several items, including the repayment of a modest $50 million drawn debt against our corporate facility. This has now closed out and sees us debt-free.
We paid $76 million in stamp duty on the Karora transaction. That’s a one-off payment. Our recent dividend and share buyback costs of $29 million was an outflow. We also saw outflows of investments of $60 million in our key growth projects and $6 million on
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