More is not always better, you get producers and explorers putting stuff out weekly or way to much and it muddies the whole message..that said given the recent disappointments in what they are producing and the synergies promised (and once you 'take over' you do find more than even you thought in pre takeout due diligence!) we should get a little more than a terse release saying 'we are pulling back some'.. on what and how we tell you. So I think this will continue to lanquish and it is today. Doesnt mean the gold is not there and at great margins for now, just management is all over the place with the message. You can be like Newmont and tell really nothing between quarters or put stuff out all the time..there should be a happy medium building on successes, explaining resolution plans to setbacks, getting the big picture out there (here 500-600k oz, lower cost, safe country, great area, etc. ).. idk it seems dodgy to me somewhat. Like they are 'pouting' ..we are taking our toys and going home and will only play when we feel like it!! lol. Anyway, keep it on watch for color but have redeployed these funds for now. If she pulls back to 2.50 or less and she keeps pouting away, it is open to takeout and clean up. Too much going on now in W AUS and someone will grab it if they don't start delivering on message and promises.
To expand a litle...look at Newmont, they bot Newcrest, had massive pre-takeout looks at books, secrets, findings, propsects, but still are integrating. Granted on a much bigger scale w large mega mines..but still..some bumps. Same here but do they have the luxury to pout and take their toys home till they feel like playing? not sure but dont think so. Oh well. Gold up again, share price down.
WGX Price at posting:
$2.84 Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)