Once again for another quarter Spec, you and your followers have been entranced by everything Wayne has stated … when actually the heightened gold price recieved ( which btw is poor in comparison circa $35-40 below other producers ) once again made up the whole cash build ….
Further the additional 6000 oz sold above production supported the revenue by another $20m …. So like for like to last qtrs it was a loss making performance.
Other then Starlight and Bluebird the mine quality, Big Bell and Fender are rubbish - the Murchison operation has declined for at least 5 consecutive qtrs … I have mentioned mine quality previously a lot.
Once again Westgold style they claim a low AISC but then have a myriad of capital notations in the waterfall chart to smear the expenditure.
Lastly, the stockpile build is a furphy salesman pitch … when you mine 638kt and process 832kt your stockpiles aren’t increasing … yes some of the stockpile quality may have improved but that’s only because the back end of the process plant can’t hand the gold load and they have to blend down to maintain recovery … I have mentioned plant quality previously a lot.
You have been dudded by a slick salesman for another qtr … I have mentioned this previously a lot.
Maybe check out Ramelius for an enhanced cash build operation rather than the church money Wayne is adding, once again only thru the increased gold price. Maybe one day WGX market cap will rival RMS.
Stock price for the qtr $2.70 to $2.42 … another 3 months of investing power wasted.
Harsh but fair imo.
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1 | 5258 | 2.810 |
Price($) | Vol. | No. |
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