Forget about the court cases, or employees running around with multiple usernames trying to spin narratives — that’s just noise.
The real issue facing AWJ is far more fundamental: extremely high extraction costs at their Munda Gold Project.
Let’s look at the facts:
* All-in sustaining cost (AISC) is $2,635 per ounce — way above the industry average.
* The ore grade is modest at 1.8g/t.
* They’ve got a 7.6:1 strip ratio, meaning a ton of waste needs to be moved for every ton of ore.
* On top of that, ore needs to be trucked 95km for processing — more cost.
Sure, at today’s gold price ($5,100/oz), they can scrape a profit. But that margin disappears fast if the gold price dips. That’s not a stable long-term foundation.
This is the real risk — and the courtrooms and forum dramas just add to it, but until they solve their cost structure, any re-rate is speculative at best.
AWJ Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
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