Ann: Annual Report, page-2

A great read (though the financials and production are not the highlight, hopefully... FY25 will be a very different affair) and I can sort of tell where the MD has literally typed in some of the text (well... or perhaps been quoted)
I wonder if all MDs actually read their report before it goes out?

One thing that never seems to get any commentary, is WGX basically bought Karora for $1.3b AUD. When I look across the landscape, I really do think that it was an incredibly bold, but well thought out move. The Karora assets will likely be able to produce closer to 300k p.a over the medium term, with Beta Hunt at 2.5mtpa+, Higginsville nearby mines producing the rest.
Then you have the Murchison, which, as I will touch on, is ramping up across it's entire asset base and perhaps more importantly will see higher output and higher grades, which will see costs come down and ounces increase.


Bluebird is going to be huge and the key driver of the Bluebird plant in the north. The MD has hinted that 1.2mtpa is the first step....



The you have Cue, Tuckabianna.... Fender (which sends its ore North), Big Bell and soon... Great Fingall. CUE will be spoilt for choice ore wise, so logically, the need for using stockpiles should all but disappear, seeing grades improve, hopefully along with recoveries and ounces.


Bryah does seem to sit at the back sometimes, but... it hits above it's weight within the portfolio and potentially, will be the lowest cost operation within WGX in FY25. Especially if they can tweak the mine sequence as shown below.



If WGX does succeed in its medium term goals production wise of 500-600k p.a. Then... it will solidify itself as the 3rd largest producer, with... I know @wassa, you don't want to read this (so skip if you have to), EVN a run for it's money (at least on a ounce basis).

RRL already only produces around 380k p.a (and this will decrease further).



Again... looking forward to the company providing the market with some heavy hitting presentations/reports to start really explaining the upside WGX has.

Here's hoping WGXs staff have a safe and productive year ahead.