Very impressive really... considering they only recently started to properly explore their own assets after years of thumb twiddling. A reduction in their reserves of just 70k after depletion bodes well for next years numbers, as the bigger exploration spend kicks in. Grade increasing for the reserves also highlights that profitability is going to improve. The big test, can WGX genuinely increase its cash balance by the end of FY2023 (ignoring any acquisitions) and enable them to pay another dividend, sustainably..... right now, it looks very achievable with the lower capex and reduction in open pit mining.
WGX Price at posting:
81.0¢ Sentiment: Hold Disclosure: Held
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