No matter what WGX's illustrious leaders set guidance at now, the market will not listen.
They have burnt there bridges for NOW, however...
After picking apart the data over the last 8 quarters, I am actually fairly confident that there underground division is in a much improved place to finally deliver more tons and improved grades. Even with conservative UG estimates below they achieve 270,000oz for FY22:
Below is a comparison of each major processing plants output for FY 20 and 21. Note the areas in green are improvements year on year.
UG ore mined has been solidly increasing across all mining precincts yet grades have been decreasing, however...
After WGX's recent announcements regarding the operational improvements at their underground mines Big Bell, Bluebird and Triton, it appears that grades will once again likely increase.
I wouldn't be surprised to see FY22 UG ORE MINED nudging 3g/t again.
WGX still have a long way to go before convincing the market, and "me" that they are back on track operationally. The next quarter will be the defining one. If they don't show an improvement in UG ORE MINED grades then it will be a real negative for WGX.
As frustrated as I have been with the management of this company, the upside is fantastic considering that it is now trading at over a 50 million discount to it's true asset value.
GLTAH
DYOR
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Last
$2.77 |
Change
0.030(1.09%) |
Mkt cap ! $2.612B | |||
| Open | High | Low | Value | Volume |
| $2.77 | $2.78 | $2.72 | $5.616M | 2.032M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 70830 | $2.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.78 | 12517 | 3 |
View Market Depth
| Last trade - 16.10pm 18/07/2025 (20 minute delay) ? |
| WGX (ASX) Chart |