A great result, though obviously the grade is much reduced and the remanent ore... now totally removed (though it will be interesting to see what happens once they get down there (my guess is they will mine some of the remanent).
Lots happening and WGX plan to push the investment button within the next 3-4 months.
A small drill program to run in tandem, to tie up any loose ends on their understanding of the mineralisation.
The increase in the MRE is big, but they state the MRE upgrade, is based off a figure that I simply cannot find..... in the past, this is what has been provided to the market (either way, it's a lot more ounces that I expected, but lower grade). They do state the MRE is very conservative and due to the lack of geo/drilling results, are erring on the side of caution.
Cheers WGX for listening to me regarding the schematic for the current U/G decline. Sunken costs, though obviously they are wanting to be 100% sure before pushing FID, due to the costs to access the enlarged MRE.
If they only stick to past projections for production, of 25kt per month, they will get somewhere north of 40k ounces p.a at 4.3g/t.
Though from what they are doing at Bluebird and Big Bell, my guess is they will aim to double that. Pure speculation though luckily not long to wait to find out. When Big Bell upgrades to 1.4mpta, and potentially Great Fingall at 600ktpa, they are going to have an awful lot of ore to feed their old plants.
Unless something goes drastically wrong with the 2 rigs and small drill program, WGX looks to be mining in the Sept Q this year.
This of course, all excludes any upside from Golden Crown, which I assume will be focused on once they have the U/G access on the go and U/G drill platforms can be installed.
Good luck to all holders.
(20min delay)