I'm not sure where @albatross got the $165m from but I wouldn't be surprised as WGX have a history of spending up big each qtr. Whilst we're starting to see some uptick in ounces produced I'm not convinced it equates to a great return on spend.
The March qtr spend:
Operating $115m (Revenue was $132m so cash flow from operations was $17m)
Capital Expenditure $39m (Are we getting value for money on this as it seems never ending each qtr and production little changed)
Working Capital $22m (This appears excessive)
So in one qtr we spent $176m this needs to reduce substantially and if Albatross is right and the cash balance/bullion has again dropped to $165m ($189m in March) on improved ounces than we need to take away managments cheque books. I suspect if $165m is true it is cash only in which case cash has increased from $153m and bullion unknown.
In this market cash/gold is king and cost of labour is high and in high demand so maybe a good time for management to think long and hard about the best way to invest and regain shareholder confidence.
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Last
$2.50 |
Change
0.010(0.40%) |
Mkt cap ! $2.357B |
Open | High | Low | Value | Volume |
$2.47 | $2.53 | $2.44 | $9.956M | 3.999M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 10207 | $2.50 |
Sellers (Offers)
Price($) | Vol. | No. |
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$2.51 | 7047 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 10207 | 2.500 |
2 | 7847 | 2.490 |
2 | 7547 | 2.480 |
1 | 7047 | 2.470 |
1 | 7047 | 2.460 |
Price($) | Vol. | No. |
---|---|---|
2.510 | 7047 | 1 |
2.520 | 7047 | 1 |
2.530 | 22063 | 4 |
2.540 | 11909 | 2 |
2.550 | 28190 | 3 |
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