This management needs to address their reporting system in a way so anyone can understand properly.
On the surface the quarterly looks okay. But after a good read things don't look so rosy. I mean it hasn't been good for the DEC quarter. Things may get better in the future. DEC quarter, the cash balance has gone down considerably. WGX is still struggling to make money.
A year ago they would report no debt and yet they had around 40 million gold prepayment loan. I had to call the company and clarify it, since then they have stopped publishing NO DEBT.
They produced over 62k ounces of gold and yet the cash balance on hand went down by roughly 18 million.
One would thing producing that amount of gold would have made a ton of money at these sky high gold prices. The also y use their own internal contractor Australian Çontract Mining.
Some thing doesn't add up.
I have reduced my position.
Cookie is very fishy.
Ann: Quarterly Activities Report, page-18
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Last
$3.10 |
Change
-0.120(3.73%) |
Mkt cap ! $2.923B | |||
| Open | High | Low | Value | Volume |
| $3.13 | $3.15 | $3.04 | $13.31M | 4.312M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75000 | $3.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.10 | 127477 | 9 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| WGX (ASX) Chart |