I wonder... if the recent announcements from WGX, are not necessarily, because the MD wants to start being more open, but... perhaps to try and soften what I am starting to think, might be a very average quarter... (we already know they missed guidance. They are having challenges with staffing, weather and mine sequencing...) Then you have continued large capex at Big Bell, even though its supposed to be tapering off.
Just trying to play devils advocate, as I was starting to think that the recent openness, was a positive, but... WGX have already explained they plan to spend $80-90m on greenfield exploration, which is an incredible amount of money. I assume, they are basically saying they are going to buy up AME (while I have nothing against AME), I just cannot understand how WGX thinks they are going to create more value from that option, versus just exploring what they already have!
I only recently saw their big statement on the greenfield focus... (I think someone posted it recently, but... of course I cannot find it now).
Good luck to holders. Just so hard to know whether my capital is worth risking on WGX.
WGX Price at posting:
$1.78 Sentiment: Hold Disclosure: Held
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