Ann: Operating Guidance FY21, page-4

Spec

All I can say is that I very much hope they can achieve the target set for the June 2021 quarter. WGX should then be making very good money with further gains likely as the old hedges get paid out at the rate of 10k ounces pa into the first half of 2022.

This is a forecast of steady production growth with concurrent reduction in AISC (form a fairly high level to a somewhat lower level). I note that the September 2020 quarter production is likely to only be around what was probably achieved in the June quarter. Presumably the improvements will be due to the finalisation of the ramp up of Big Bell. I would have liked to see a breakdown of forecasts across the three mining centers.

WGX is in a sound financial position with around $137m in cash/bullion/investments and that will grow because the capital spend is tapering off, so I have no fears by holding WGX shares, other than concerns about a possible mishap at BB.

If one believes the figures put out by the company than the shares are cheap relative to RMS and SLR.

I expect that WGX will start paying a dividend in the second half of next year, unless they have a better use for the cash. That would get the market more interested in WGX, and the share price could be over $3.50.

loki