Gone are the days of being beyond ticked off when these quarterly reports were announced. The “disappointing” news now is not a result of poor management but just bad luck or the black swan event that is the gold price latching itself onto a rocket ship causing the AISC to partially go up due to royalty increases (the best sort of negative spin you could possibly hope for).
Weather events and the unfortunate pit grade downgrade aren’t things you can really blame management for. Weather smacked WGX in the face for a quarter which allowed me to buy at a very handsome discount resulting in a 30% re-rate over a week period when the market realised it doesn’t rain cats and dogs every single quarter. Will we be given this opportunity here?
RSG Price at posting:
83.8¢ Sentiment: None Disclosure: Held
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