Not what I am seeing Bizzo. The figures show consistently higher grades mined at CGO. Head grade went up from 2.15 in September quarter to 2.45 in December quarter. Ore processed increased quarter on quarter by only 4.7%. Ounces produced went up over that same period by 17%. AISC dropped $150 per oz. It appears that things are incrementally improving at Cue Gold Operations. I guess the next couple quarter results will give a better indication on whether Big Bell was worth the large capex or not.
Wgx still remains a fairly low risk proposition that offers good leverage to the AUD GOLD SP IMHO. I see many positives like:
Shareholders nett equity per share sitting at around 70 percent of its current market cap price per share giving the stock strong support at $1.40 regardless of SP. Imminent maiden dividend of 30 percent NPAT. Projected capex is dropping by half for FY2022. Zero debt. 160 Million in bank. Strong insider buying. Multiple mines and processing plants limiting risk compared to one mine operations. Minterra providing WGX fixed mining costs benefits when compared to most other ASX gold producers. A relatively low capex option of increasing throughput and recovery percentages in their 3 processing plants once harvesting mode is in full swing.
WGX Price at posting:
$2.11 Sentiment: Buy Disclosure: Held
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