Cheers for the great reply JJ.
Def too many stocks.... but it helps finding a few smart minds on HC to help cull the herd.
Boggles the mind is very accurate! Though of course, if they had been doing a better job, WB would not likely be the MD, so... swings and roundabouts.
As you say, head grade will be the next major change, though that takes time and money, and..... drill bit success. All of which WGX is seeing I suppose.
With plant throughput being a handbrake of increasing pure ounces, they basically have to high grade all the operations.
Great Fingall will hopefully do that.
I am not surprised WGX look at basically putting a new plant at Tuckabiana a few years back. Doubling the throughput would have greatly reduced costs, and... they have open pits near all of the plants, but.... high cost plants means... they need high grade ore.
As for the cheque book. That is an interesting topic. The $100m raised a few years back, is.... technically still sitting there, and if... the company hits guidance and costs etc (though we don't have 2024 guidance, perhaps 250k at $1850 AUD?), then by the end of July, they could.... potentially be making upwards of $24m per month.... or perhaps $120m by years end. Seeing with closer to $290m in cash. I guess the market still does not believe this is possible, but... (I should bookmark this post), if they do, they have to either start paying dividends or make an acquisition (perhaps both).
My gut feel is WB will hold off on the dividend, not because he does not want to pay it, but... he will want to prove categorically, that WGX has changed its spots, and that takes time. As for the acquisition, WGX is mill constrained, not lacking ore, so... buying MGV, or GBR or AME makes no sense to me (though AME is different to MGV and GBR, as they would just be feeders). GCY would offer WGX the ability to become a 400k p.a producer, within 18 months, versus.... well, more incremental growth. That being said, I do believe WGX does not need an acquisition, as just aiming for 300k p.a is a worth goal to bed down. Pure speculation of course
Cheers for the thoughts
@plough - so interesting to hear that about the employee chatter, though to be fair, GCY have barely any and WGX, 1000+ from memory! ha. Great points about incremental improvements. WB has been honing in on all of those and... I think with costs continuing to fall, he must be succeeding.
GCY story.... complicated no doubt. Mistake were made, which.... benefits the newest shareholders the most...
We will see regarding the last hit, seriously hoping the drill bit proves your pessimism is off target
I like it... its a race between Great Fingall and Never Never..... who delivers ore first to the ROM pad.
(20min delay)