Agree Atskon. Very impressive increase in the MRE.
Just as importantly, it would seem WGX is making sure that the economics stack up before pushing the FID on fully opening up an expansion of the Bluebird mine (though I really think at this point its a certainty. I think WGX has probably aimed a little too high in regards to just how quickly they could bring it into production (similar to Great Fingall), and are now slowing things down a little, to ensure that they can meet their longer term production increases.
Mine plan studies underway, more drilling ongoing and hopefully... even more ounces to be added to the MRE. 850k in MRE currently is a big U/G mine already, and implied a potentially long life operation (which is a key goal for the company), other than just high production rates (they are likely to achieve both).
Above all it is showing that WGX assets are not at the end of their mine lives.... (other than Paddy anyway), and in fact are the opposite, they are mature, but able to expand the MRE and over time, produce more ounces with economies of scale.
WGX Price at posting:
$2.13 Sentiment: Hold Disclosure: Held
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