WGX westgold resources limited.

1.35%

$2.93

Ann: Presentation - FY22 Financial Results and FY23 Guidance, page-69

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wassa

3,881 Posts.

1850

28/08/22

21:16

Post #: 63371092
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Agree on delays with approvals but I am not as forgiving on poor planning or operational performance.

You are clearly negative on GCY which is your choice but I am up 45% so happy to view things differently.

Your stockpile build timing compared to the failed takeover is a little out imo.

Anyway as a non holder I will just keep my thoughts to myself. Best of luck.

Originally posted by fitnfam: ↑

At the moment I would give anybody a pass on dates planned 6 months or more ago.
I know of no project that is meeting dates or guidelines they set 6 or even 3 months ago,especially with any approvals needed.
As for GCY they are HOPING for approvals to arrive around NOW for many things they need to just keep running including a DUMP LIFT.
Don't think the approval departments aren't suffering the same manpower and sickness issues that everyone else is.
We are currently running around 10-15%,so I would imagine GOVT departments would be in the 20's with a few GOVT employees taking advantage of the opportunity,so paperwork stuck on someones desk until they come back and they do their bit before hitting the next desk who's away and so on.
Logistics have ground to a near halt in many places simply because of the lack of Truck drivers well and working.
I am personally inclined to add 6 months delay to everything I see ahead on all of my investment timelines.
If I overlay that most if not all are running close enough to their original longerterm plans.
Those dealing with finance have already done just that with ongoing economic overlays not much different to original Covid provisions for the next year ahead.

Its been a crappy year and WGX for one was preparing to send feed immediately south if their bid was accepted,so stocked up on surface ore and made pit mining plant available for use elsewhere if needed in the future.
It wasn't to be,so time to cash out on any pre-investment in surface stocks and surplus mobile plant you now have trouble manning anyway.
Both smart moves in the circumstances.
Plans change on the fly due to circumstances.
Hearing news media reporting China now buying increasing amounts of Russian Gold at a rumoured 30% discount can't help gold companies.
Especially if India and certainly many wealthy ARABIAN countries do the same dropping demand for NON UKRANIAN BLOODED gold.

Lean mean CASHED UP Survivors might be buying assets cheap again.

Regards

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WGX Price at posting: 96.0¢ Sentiment: None Disclosure: Not Held
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Last $2.93		Change -0.040(1.35%)		Mkt cap ! $2.763B

Open	High	Low	Value	Volume
$2.94	$2.98	$2.93	$33.24M	11.34M

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No.	Vol.	Price($)
7	663107	$2.93

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Price($)	Vol.	No.
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2	1506	2.920
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2.960	10000	1
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