When WAF was running as a one mine company with a price target of 1.60-1.70 and clearly on a runway to wiping their debt they managed to get the SP up to around 1.40 and that was not necessary when gold was at ATHs.
fast forward and taking on debt whilst increasing jurisdiction risk has been something that is a repeat performance and so far they haven't really missed a beat. With the exception of a recent fatality, they have hit targets and done exactly what they've said they would do. On time, on budget.
Being able to say they are a low cost producer is a blemish at THIS moment in a world where everything is going up and almost no company can contain their expenses to numbers that were projected prior to Covid, prior to inflation and prior to the massive instability of global supply chains and the world in general (2 wars concurrently).
If POG average stays only at $2000 then that's going to be 140M USD profit for the year at the most conservative target. I don't believe that the POG can or will stay at that amount. When this thing is ready to fire and Kiaka starts to ramp up and the POG is higher than now then it's going to be a printing money machine.
The track record Indicates that the team will keep on keeping on and if there is any sniff of hitting beyond the upside over the next few quarters combined with Capex cost containment as previously achieved (rinse repeat) then there is every reason this will pop, none of those ideas are fictional.
This has the potential to move very quickly with the right mix. It just needs a catalyst and they are everywhere.
WAF Price at posting:
85.0¢ Sentiment: Buy Disclosure: Held
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