Ann: December 2022 Quarterly Report, page-13

Hey @funked15

I am going to be more generous. I give them B+
Only needed to generate perhaps $8-10m in free cashflow (which Bryah would have done if it could have replicated its Sept Q.
I mean, it beat RMS, SBM, RRL which were all negative free cashflow (some by a huge amount).
As you say, I really liked that overall costs are going down, even when the amount of ounces produced were lower than last Q.

8 Rigs hunting for more gold, yet WGX being very careful with the actual exploration spend. They are rightly focusing on simply adding more ounces U/G at producing assets. Time to explore further afield when its better capitalized.

I think it reasonable to assume that WGX will finally become profitable this quarter.
My hope is by perhaps $10m, though we will see if even that is still a bit too optimistic.
They are tracking under guidance, though hopefully the likes of Blue Bird etc and bolster the company enough to indeed match guidance.


Lower cost gas/power generation to begin reducing costs further in June.




Very pleasing to read that they are getting a good handle on staffing too, which will hopefully push benefits throughout the business.

Bryah was obviously a let down for them, considering its been consistent. Looks like they are being very proactive in ensure its was s short term issue.

Even Paddy Flats is likely to see longer term improvements to profitability...


Big bell is humming, with it approaching 1.2mtpa of ore, which will see them get close to 100k p.a ounces. With 4mt basically already accessed, we should see profitable amounts being produced.


Shame about the Great Fingal drill holes having to be reset, but... they are drilling very deep.

@Joelstar - agree, less than 6 months until the hedge is finished. I am happy enough with WGX taking on some hedging for short term projection, but would really.... really prefer put options for longer term... or no hedging/options!

I think the market will slowly come around to the quarterly being a good one, but we will see.