WGX 1.97% $2.49 westgold resources limited.

Of course there is an element of luck involved with the weather...

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  1. 4,405 Posts.
    lightbulb Created with Sketch. 3050
    Of course there is an element of luck involved with the weather and border closures.
    Yet missing production guidance over and over again has many unfortunate side effects though. A few have rightly pointed out, that the board surely knew of the latest production misses before the June 8th corporate presentation. This report was released only 3 weeks before the end of FY21 and days before the production downgrade update! There was nothing at all that even hinted at such a large production downgrade listed in the corporate presentation.

    There just appears to be so many of these annoying patterns of behavior such as:
    *Releasing the quarterly results with no heads up, on any day or at any time of the day.
    *Consistently vague operation details (seeing this finally improving though)
    *No audio presentations released along with quarterly results, which is somewhat of a growing trend for many other miners. Happily, it's something that every other mining company in my portfolio releases on the same day that their quarterly reports are released.
    *Swapping financial year guidance with calendar year guidance, which I find to be a confusing and misleading practice.

    Many investor's have really just lost faith in WGX's management, hence the reason we are sitting here at such low ball valuations.

    The silver lining in all this is, as you say Hightrax, is all that gold in their dirt is very valuable.
    I think that PC made a very sensible decision back in 2019 to concentrate production in the one geographical location. There has definitely been some other commendable decisions by the board, however most would argue that their overall operational results have been at best "underwhelming". If WGX set their guidance a little more conservatively, it would most likely improve investor sentiment in the long run.

    I really hope that the new executive director and the board listen to the shareholders voting with their feet and actually change there modus operandi.

    GLTAH

    Last edited by Joelstar: 30/07/21
 
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