WGX (ASX) Ann: Annual Report

Originally posted by speculator101: ↑

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.

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Whilst I believe my operational assessment has been reasonably accurate with Westgold 1.0 to date, clearly the exploration and expansionary efforts are bearing results. The quantum of which thou is yet to be seen in production. I still believe the rise in gold price has given WGX (and others CYL,PNR etc) the leg up they needed otherwise the original operations would of continued to struggle for profitability … but like most miners the commodity prices play the largest part in dictating boom or bust results and to a large degree the perception of management’s performance.

In the fullness of time I agree the Karora bid will be seen as a bargain given any sustained elevated gold price.

On a personal level I must say you are a hell of a supporter of the Westgold story … as you clearly know I have mainly favoured other stocks in the short term to date … whilst 500-600 would be company changing the Evolution 700-780 is still a big step away. Maybe the PNR buyout. The recent snap back in sp has been strong but still lags Alkane recent performance ( I had to say something lol )

Whilst I have my own strong opinions on stock assessment it is great that most gold stocks ( good,avg or bad in my view ) are rewarding investors with strong gains … I know my family is benefiting from it and hope yours does as well, along with others. I might make that much I will even start buying Westgold shares lol.