@speculator101 Capex was $35 million for the 2nd quarter and $58 million for the year to date. To reach $130 million they would only have to spend an extra $1 million each quarter i.e. $36 million each quarter.
Gold price is tracking about $50 higher this quarter around $3094 so at 60,000 ounces that's an extra $3 million there so they should be making $25 million per quarter not $15 million assuming a similar performance to last quarter.
That would only be $400 profit per ounce if all in costs were included or AIC of around $2700. If WGX want to be taken seriously they need to lift production above 60,000 ounces a quarter and start generating a solid cash flow of at least $25 million per quarter. Ideally production should be closer to 65,000 if they expect us to believe they are capable of hitting 300,000 ounces per quarter.
Furthermore, no more surprises like we saw with Paddy's Flat - if you say you're going to mine it then mine it. The obvious omission of announcing its poor performance when they were announcing high grades from Starlight in early December is something that investors notice when it comes to integrity from the board and executive about reporting bad news.
@@wassa Plenty of companies mine grades much lower than WGX including RED and RRL. Overall performance and cashflow is what matters the most.
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