A great read... because it is actually a turn around story that has well... turned around (unlike the many carcases that litter the ASX resource sector).
Within the next 3 months, 3 more hybrid power systems will come online, with the resulting benefits of replacing close to 50 million litres of diesel.
300k p.a is the medium term goal for WGX, that is a sustainable 300k p.a.
Interesting to note that the Bluebird plant is running at capacity because it does not have enough oxide.... MGVs high grade open pits would have been a very nice addition to the production profile, but... RMS had deeper pockets.
The Bluebird U/G continues to hum and expand, with exploration ongoing. But also... Triton & South Emu (which from memory are U/G mines, and Gibraltar which is an old open pit.
Also pleasing to see that Fortnum is going to continue to be a key part of WGX portfolio, because... it makes money. They clearly want to be able to bolster the current LOM to better match the other two production hubs.
Slightly off topic, but the pay and incentives WGX have overall read well to me. WB is not overpaid, yet works damn hard. Cannot ask for much more than that (same for all of his team).
The top 20 looks... fine now, though still underweight compared to other producers in regards to large insto's.
Looking forward to 2024, with WGX paying dividends, building cash, expanding their resource/reserves and producing more gold.
WGX Price at posting:
$2.01 Sentiment: Hold Disclosure: Held
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