{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Karora Resources (TSX:KRR) & Westgold Resources (ASX:WGX) - Merger Builds Mega Gold Producer","html":"","width":"100%","height":180,"duration":1338,"description":"Interview with Chairman & CEO Paul Huet, Karora Resources and Wayne Bramwell, Managing Director of Westgold Resources.Our previous interview: https://www.cruxinvestor.com/posts/karora-resources-tsxkrr-westgold-merger-creates-gold-powerhouse-5192Recording date: 19th April 2024Karora Resources and Westgold have announced a merger that will create Australia's third largest gold company, with annual production of 400,000 to 450,000 ounces. The combined entity will have a proven management team, a focus on profitable ounces, and significant organic growth potential.The merged company brings together two teams that have successfully executed operational turnarounds in recent years. Karora Chairman and CEO Paul Andre Huet praised his counterpart, saying, \"What an amazing journey, only in this for two years...What a better man - you don't want this in the best person to run our company. That's the kind of person we want. Don't worry so much about making the ounces every time. Worry about making money.\"Under Wayne Bramwell's leadership, Westgold has pivoted from a \"myopic focus on producing gold at all costs\" to a more sustainable model centered on margin and free cash flow. By shutting down money-losing mines, redeploying resources, and empowering site teams, Bramwell and his team have generated positive cash flow for five straight quarters.The merger will allow the combined company to apply this cash flow focus to Karora's assets, which include the high-potential Beta Hunt mine. Bramwell sees an opportunity to reduce contracting costs by deploying Westgold's extensive mining fleet. \"Removing those contractors and driving the cost out, replacing them with the expanded Westgold resources is going to be a quick win,\" he explained.The combined company will also have significant organic growth potential. Westgold is acquiring additional drill rigs, with plans to \"give at least three to Steve Devlin and the team at Beta Hunt to basically start beating the hell out of that...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}