This is new... My initial view is... it's too early to be even thinking of a dividend, when they have not provided guidance for FY24, they have not provided any hard figures for non-sustaining capex for FY24, particularly in relation to Great Fingall, they just turned away from a T/O of MGV, and they need to clearly articulate how they are going to fill the mills once the stockpiles are used up.
I am not against a dividend perse, more just I want to know it's 100% sustainable, as the last dividend done by the company was a complete farce and NOT sustainable. With the hedging rolling off, it may well be very sustainable, but... that is yet to be seen.
I also struggle to think that at this particular moment, with explorers and developers so undervalued, that the cash WGX is thinking of giving to shareholders, might be better utilised to secure deposits/assets around their mills.
Hopefully WBs preso at the Noosa Conference will be available for all shareholders to view.
WGX Price at posting:
$1.63 Sentiment: Hold Disclosure: Held
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