For those holders (or prospective ones) that want a bit more color of WGX near term future, this interview with MD (WB) and CEO of Karora on the day of the merger, is a great introduction to the company.
Westgold-Karora Merger: Final Insights & Future ProspectsWould love to get a fact check on one comment.... WGX now has the largest land package of any Gold company in Western Australia.... very exciting if true.
Plus, much like WGX Murchison assets, Higginsville and Beta have been starved of exploration for a decade... and what a time to be hopefully discovering more gold. For fun, here is what 3200 sqkm looks like in W.A.
I also appreciated the questions being asked, one was very clear... investors have added up what WGX should be able to produce on paper, and... it likely equals more than 400k p.a... Wayne agrees, but for now, he wants the teams to integrate, then.... to focus on the production profile.
First good question was around index buying.
Basically... 50m shares... for the GDX and... Westgold should be eligible for the ASX200 in the near term.
These are going to be powerful drives.... though I want the real share price appreciation to come from FCF and discovering more ounces (the index buying is just a bonus IMHO).
FY25 guidance to come in Sept (I wonder if that will be early/mid/late Sept?). Also looking forward to an updated MRE and reserves for the entire company (coming Sept too I think)
Very interesting about Beta Nickel... WB was skeptical, until he saw 22% nickel sticking out of the wall. "This merger is all about gold, the next 12-24 months is that focus".... but.... they are not close minded on the Nickel. It has value... they now have breathing room to find the best way to monetize it....
Basically, the Nickel is a free option... $1 billion in Nickel in Beta Hunt... with zero value ascribed to it currently.
Some nice logical discussion about cost synergies and economies of scale. Basically if they were doing everything with contractors, the costs would be 20-30% higher..
Perhaps I am getting soft in my old age, but I view the last 2 minutes as being the most important. The CEO fully trusts WB to run his 'child', and that is good enough for me to have WGX as 10% of my net worth.
Hopefully WGX 3.0 has a safe and profitable FY25.
(20min delay)