Ah darn it, I was $25 off the AISC. I continue to like how open WAF are with their AISC, expected costs etc. Nice and easy to work out approximately how much free cash flow they will have, though of course, it's harder to estimate the amount of tax that will be paid.
I am also pleased to see that they are being conservative with the grade of the U/G. If it out performs by just 10%, we will hopefully see 5-10k extra ounces which should hopefully reduce the AISC.
Before exploration and taxes, WAF is looking at margins of $700 USD, or approx $154m USD if they hit mid guidance. That is approx $211m AUD. Even if you take off $50m (USD or AUD) for tax and exploration, that is some serious cash generation.
Finally, it looks like MV3 is definitely going to be mined in 2024. That will hopefully enable WAF to bolster the production which is currently sitting at just under 200k.
They are also going to see their stockpile increase.
Lots of positives and all the while they are putting everything in place to develop Kiaka. I assume if MV3 gets pulled into the mine plan, Toega might be able to be pushed back 1-2 years? Perhaps more?
WAF Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
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