Looks to be forming a bottom on the chart. Touch and go though. Support at this level. Oz $ cancelling out rise in $US gold prices. Latest bargain basement plant purchase in S end of area will lower haulage (1/2) costs for that area and double throughput at Murchison.
Lower price scenario for oil looks like continuing with US shale oil/gas arriving on seaborne market, plus new Russian gas pipelines to China from E. Siberia kicking in in 2018, relatively lower China seaborne import demand below what it would have been looks like a lid on prices. This looks be positive for the bottom line re haulage costs of ore. The mini railway cost-cutter down south looks interesting too.
The better grades coming at the Kalgoorlie operation could result in the purchase option being exercised. That would tip $100 mill into the cash holding.
WGX Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
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