I wouldn't be so sure. There was no mention of how the Starlight Mine and the Fortnum Mill which comprise their Bryah operations are going. The quarterly said:
Bryah Operations Production from the Bryah Operations was below budget in Q2, delivering 12,900oz production (Q1 -15,719oz). Process plant throughput increased from the previous quarter (207,540t vs 203,206t) but, with reduced head grade on a QoQ basis (2.0g/t vs 2.5g/t). Starlight underground performed well below expectations with 191,181t at 2.1g/t extracted for the period. AISC costs were significantly higher on a QoQ basis ($2,222/oz vs $1,696/oz) largely as a result of the lower grade. The underground operation has been a consistent performer for Westgold, with new management installed in January 2023 to rectify the operational issues seen in Q2.
I assume if they had succeeded in turning it around, they would have mentioned it. No reason to hold back good news which means no news = bad news in my books.
WGX Price at posting:
$1.18 Sentiment: Hold Disclosure: Held
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