Well.. perhaps the market is starting to realise WGX is not Wiluna 2.0 (or rather 5.0 or whatever iteration its up to).
I guess upon re-reading the announcement, the news is quite big, in the sense that its basically going to enable the mine to have a 10+ mine life. Though the caveat is that after the 6/7th year, the mine will have a reduced throughput to perhaps 400-500tkpa (its still a pretty large U/G mine either way). With the years after the sub-level finish, being higher grade. Also, this does not include any potential deeper extensions etc.
So WGX has basically ensured Big Bell is now a core U/G operation for at least 10 years, hopefully much longer. All with minimal upfront capex due to the operation already being.... in operation. Which the announcement highlights.
Hard not to be optimistic about what WGX will look like if this, Blue Bird and other U/G operations see expanded output, plus increased reserves.
WGX Price at posting:
$1.02 Sentiment: Hold Disclosure: Held
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