“Find me another mid tier producer who has the ability to add...

“Find me another mid tier producer who has the ability to add (on top of) another 50k+ ounces per annum via an already developed decline?”



Hi Spec,
Interesting assumption. You are clearly an excited gold speculator by name and nature lol. I am probably more of a boring mining economist type so it’s probably why we see things a little different. It’s no so much I am against Great Fingal as a project but more about WGX strategy …. Or changing strategy … Or lack of the same one for more than a month.

We have had the whole “Less mines being bigger and better plan” by closing and consolidating and now there actively pursuing more mines. To answer your question above they don’t have the milling capacity to add your 50k+ ounces, it will simply be just spend more and substitute. They also probably don’t have the manpower in a skills shortage, it seems fiscally irresponsible to spend more capital to replace what you already can produce considering you still haven’t made any money for years and took a $175m write down as recent as last August on other failed capital expenditure projects.

When do these companies learn to actually make money and reward the shareholder rather than the “Big boys and more Toys” mindset. One could argue they need a new mill to process all this ore from the expansions but I won’t get into that … they completely massacred their GCY opportunities although I am not 100% that’s the right answer … in typical WGX fashion it seems they probably couldn’t decide that either.

Lastly, I am not convinced of your already developed decline statement , by looking at “ the Great Fingal mine schematic” you posted, it looks like to me a new decline being developed from lower in the open pit. ( proposed decline ) rather than the in pit wall ramp that Wayne is referencing to 160m depth. Either way the existing development isn’t below the open pit so a way to go yet.

Let’s hope the right timely decisions are made for the shareholders.