AISC, page-3

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29/05/21

23:08

Post #: 53512882
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Originally posted by Spatula: ↑

The operations page in the latest quarterly activities provides the AISC breakdown and previous quarter comparisons.
Looks like the last quarter was higher because they were depleting stockpiles and some of the rocks were a bit hard.
All quarters are high AISC because the current operations are a low grade project; they're at the tail end of the Williamson open pit and mining various underground sections, just chewing through the free milling ore that their current infrastructure can process. The Golden Age extension suggests they can continue this through 2022 in parallel with Stage 1, if the gold price holds.
It's a shame the hedge book is coming to an end, they've been getting really good prices.

Stage 1 should be better, but I can't seem to find a feasibility study for it. The latest broker report on the WMX website suggests the margins will be even slimmer than the current transitional operations stage with hedged sales.

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It's no surprise the Stage (1) feasibility study is difficult to find : they've never released it. Only bits & pieces of info.

The Dec'19 quarterly (pages 7 - 9) was the first appearance of any meaningful Stage (1) study info. The current expectation is that the Expansion DFS will be finished by the end of 2021. Remains to be seen.

WMX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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AISC, page-3

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