Perhaps you guys are right, only time will tell on whether the coup will have any effect on WAF's operations. I'm still in profit and have a tight stop if things go pear shaped.
As for GCY, WGX are telegraphing they are urgently in need of extra processing infrastructure. This is the third quarter straight quarter that WGX's cash balance has fallen. It doesn't like they are going to be sitting on their hands here with some serious cash burnt over last 3 quarters.
They appear to be investigating the option of toll treating their excess ore. GCY is the obvious immediate choice if WGX do indeed choose to go down that path instead of the T/O option.
Jun Qtr WGX minus 22 million
Sept Qtr WGX minus12 million
Dec Qtr WGX - 29 million
Total drawdown 63 million over last 3 quarters which gives them an average of 21 million cash burn per quarter over last 3 quarters.
5 quarters of cash left at this cash burn run-rate. Something needs to change and fast. I have the feeling we won't be waiting very long to find out what their next move is...
GLTAH
DYOR
Ann: Gascoyne AGM Presentation, page-43
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Change
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