Ann: First Tranche of Prepaid Swap Financing Facility Completed, page-31

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hightrax

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20/08/20

12:07

Post #: 46685154
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Originally posted by Hiddenvalue: ↑

@ hightrax check the quarterly and you will see they have just come out of the prepaid swap debt and the hedge is horrible still have over 200,000 ounces to deliver at just over $2,000. Extremely poor hedge position.

Wiluna's hedge and prepaid deal is much better!!!! Albeit smaller production numbers.

Here is the quarterly from the gold miner you suggested.

Quarterly Outputs• Group gold sales was 66,234 oz generating revenue of $152 million from an achieved gold price of A$2,294/oz.
• Cash cost of sales (C1) were A$1,299/oz and AISC’s were $1,638/oz.
• A Mine Operating Cash Flow of A$60 million was generated and a Net Mine Cash Flow of $26 million for the quarter was achieved.
• The ramp up of output at the Big Bell mine continued with output in June putting production at an equivalent run-rate of 460,000 tpa and continues to increase.
• Successful extensional drilling expanded the Big Bell total resource by 319,000 oz to 1.63million oz.
• Westgold closed the quarter and 2020 financial year (FY20) with $137 million.
• Westgold completely re-paid all gold pre-pay debt during the quarter and is now debt free with the exception of equipment leasing commitments.
• Westgold’s hedge book reduced by 30,000 oz during the quarter to stand at 200,000 oz at A$2062/oz at the end of the quarter.

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Yes, about 8-9 months prod hedged at about $2k. Thats why its relatively cheap re assets. WGX worries me a bit, is current price weakness due to disappointing results known to insiders, so far from Williamson pit they are relying on for next 12 months cashflow? Hope not.

WMX Price at posting: $1.22 Sentiment: None Disclosure: Not Held
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0 Great analysis

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