Been noticing the same thing CUB. Quite a few WGX employee's posting on LinkedIn that they've been let go.
@newB I don't think the Sept Q will be great. I'm gathering the shitty weather could have possibly negatively affected some of their haulage roads between plants and mine sites. At least they've stopped OP mining so weather shouldn't negatively affect their mining ops.
During the recent Denver conference (held late September) Wayne had an interesting response to one question. Q. How do we trust the turn around this time? A. Be more transparent and open with shareholders and show free cash generation going into Q2 Q3.
My interpretation of this: As this conference was held only 9 days before the end of the quarter, WB would already have a reasonable indication of the cashflows for Sept Q. I'm predicting cashflows are slightly negative to flat.
Even if they post a small loss for the quarter, I believe the market will take this as a positive. A blowout loss above 30 million would our worst-case scenario. I rate the potential of that happening as practically zero as WB would have already put out an earnings warning earlier this month.
All in all, WGX has held up well the last couple of weeks, particularly with the string of awful quarterly results and the listless gold price.
DYOR GLTAH
WGX Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
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