the trading on WGX is actually very odd; I did put a formal letter into ASIC - telling them some people knew how much and when it would be shorted (from the GDXJ rebalance). But the public were not allowed to have the info. I did write to GDXJ to ask 'where can I find this info, that some people have'. They dodged the question when they responded to me.
So WGX got hammered down (shorted) from low 1.30s to under $1 in two waves. And the selling was the same. The person (I assume) on both sides of the price selling to themselves and pushing the price down. Now with a pretty poor couple of weeks for gold price and announcements, we have the same type of activity. The share price has moved UP!!! 20% on bad news, pog falling. In short, the shorters are covering.
WGX is one of my most profitable trading stocks. But I dont like the company at all. (as I have said) When the shorters are done covering it will be interesting to see where the real price is/should be.
Cookie has bought a fair bit with his own money.
Asset value is about $1.12 (dont count the gold)
But Lord knows if they are losing money every day - or getting ready for the big turnaround.
The share price and trading refects nothing other than some insiders knowing the GDXJ info... and shorting... and now covering.
Good luck to holders. I was out yesterday.
Ann: Westgold Tops Up with $20.85M Gold Pre-Pay Addition, page-7
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Last
$2.90 |
Change
0.140(5.07%) |
Mkt cap ! $2.736B | |||
| Open | High | Low | Value | Volume |
| $2.88 | $2.95 | $2.85 | $22.67M | 7.809M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7127 | $2.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.90 | 4998 | 1 |
View Market Depth
| Last trade - 16.10pm 07/08/2025 (20 minute delay) ? |
| WGX (ASX) Chart |