WGX westgold resources limited.

Ann: New Power Agreements Deliver Cost & Emission Reductions, page-6

  1. 308 Posts.
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    I'm not sure where @albatross got the $165m from but I wouldn't be surprised as WGX have a history of spending up big each qtr. Whilst we're starting to see some uptick in ounces produced I'm not convinced it equates to a great return on spend.

    The March qtr spend:
    Operating $115m (Revenue was $132m so cash flow from operations was $17m)
    Capital Expenditure $39m (Are we getting value for money on this as it seems never ending each qtr and production little changed)
    Working Capital $22m (This appears excessive)

    So in one qtr we spent $176m this needs to reduce substantially and if Albatross is right and the cash balance/bullion has again dropped to $165m ($189m in March) on improved ounces than we need to take away managments cheque books. I suspect if $165m is true it is cash only in which case cash has increased from $153m and bullion unknown.

    In this market cash/gold is king and cost of labour is high and in high demand so maybe a good time for management to think long and hard about the best way to invest and regain shareholder confidence.





 
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Last
$2.90
Change
0.140(5.07%)
Mkt cap ! $2.736B
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$2.88 $2.95 $2.85 $22.67M 7.809M

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