Great post plough and... that basically sums up my thesis for...

Great post plough and... that basically sums up my thesis for why I am holding WGX over RMS.

The interview today was a good one (glad I could help out with the Crown question). 4g/t seems a lot more like than 3g/t when they put upto 600kt p.a into the Bluebird plant. Really hoping NMG and WGX can quickly get Crown into production.

I had another 5 or so questions, but as usual the session ended before I could

Firstly.. I am glad Wayne has finally started to rip the Band-Aid off in regards to Big Bell and it's expansion of the deeps. He admitted that in terms of priority, Big Bell has slid down the list of priorities for capital (though he was still not quite ready to give all the details about just how 'slow' the development is), with Beta Hunt, Great Fingall and Bluebird complex (South Junction) getting all $$$ which I am all for in the near term, as Big Bell deeps was not going to move the dial, versus Great Fingall (Wayne mentioned that they hope to seeing ore before the end of FY25, with potential for it to be earlier). 5g/t ore from Great Fingall is key to seeing Tuckabianna become truly cash flow positive, versus being marginal.

Above all, I am guessing the market was most interested to hear this quarter will see higher production than last quarter (he stated this), though nothing specific, my guess is around 100k but we will see. He also highlighted, that the rest of FY25 will see further increases.

It was also interesting to hear Wayne explain a bit more about Starlight, particularly the U/G, which has multiple lodes like South Junction. 10 year LOM all but baked in, though what I would have loved to have heard, was that a 10 year LOM plan, could just as easily be achieved without the plant expansion, albeit they could get less ounces.

He was also fairly candid about Bluebird Southjunction not being where he wanted it to be, with the team likely trying to play catchup, though he did not quantify just how much off they are from the target of 1.2mtpa (he did slip in 1.1 to 1.2mtpa, so.... in the near term, I am guessing 1mtpa is a more realistic goal, which I cannot see being much of an issue as they still have huge stockpiles to draw down on (particularly at Tuckabianna).

Very pleasing to hear they are focusing so heavily on water management to better insulate the company from major weather events like what happened earlier this year. More stockpiles beside the plant, less water able to even get into mines.

Beta Hunt.... Wayne touched on how hes seen a few results from the Fletcher zone and... he smiled. Maiden MRE for Fletcher in the March Quarter is going to be a major event for me... as it will hopefully validate why WGX bought Karora and solidify the potential to greatly expand the U/G mine to above 2.5mtpa.
Which in turn will enable them to justify expanding the Higginsville plant etc.

Dividend for CY25 is a yes....

New presentation for the company overall coming in March Q, which will highlight the growth potential across the portfolio.

Drilling occurring across the portfolio with 22 rigs on the go.

Just hoping WGX have a safe Xmas and keep maturing their assets and hopefully, prove the market is not yet understanding the upside.