Ann: Bluebird - South Junction Mineral Resource Grows to 1.4Moz, page-4

Hi Caromb, for fun, here is my rough estimate of where it will be come Sept 2025 (assuming no major acquisitions or discoveries (of new deposits)).

The merged entity started with 13,000,000 ounces on the dot in April this year.


Since then we had a full update in Sept 2024 (though only includes up to June30), with an overall increase in MRE minus production etc to 13,200,000 ounces. Since June 30, we have had increased MREs at Bluebird South and Starlight, plus.... an exploration target at Beta.



At Beta, they hope to eventually add upwards of 2m ounces (Stage 1 is... I estimate, achievable before Sept 2025).



Then we had Starlight upgraded last week.... (13th Nov) - and added a further 540,000 ounces.




and finally, yesterday, Bluebird South Junction added a further 400,000 ounces.



So.... before production is removed, WGX looks to have already added 940,000 ounces to the MRE, pushing them above 14m ounces in MRE.
Then... a little more speculative, if we split the difference for Beta's exploration Stage 1 target, 1,000,000 ounces. Should see WGX close in on 15m ounces.
Take 400k for production and they will hopefully be sitting on over 14.5m ounces in MRE and... at a guess 4m ounces of reserves. The exploration 'runway' is starting to gain traction...

Beta, Bluebird complex, Great Fingall and Two Boys could all outperform and add even more, though I don't actually think that is the major driver for WGX in the near term, they just need to hit production guidance. Nothing more. Then... well... I have invested on this thesis, WGX is going to outperform it's peers. It has so much more 'torque' than any other producer IMHO.

We will see of course.