This is actually a positive for me.
WGX have finally listened to the market!!!
Ultra conservative FY23 guidance instead of those bullshit pie in the sky number of yesteryear.
FY23 is shaping up to be a transitional phase for the company.
Open pit stockpiles will continue to be drawn down which will elevate AISC but improve cash generation (no mining cost offset by stockpile drawdowns).
Capex at 80 million has come in at the bottom range of my estimate.
NTA per share $1.25 is above my estimate of $1.21.
WGX will be profitable for FY23 at an average gold sale price of $2,450 even if the hit the bottom of their range.
Production Range (240,000oz to 260,000oz)
AISC Range ($1,900 to $2,100)
Capex 80 million
LOW
Revenue $588,000,000 - AISC $504,000,000 = Cashflow $84,000,000 - CAPEX $80,000,000 = EBITDA $4,000,000
MID
Revenue $612,500,000 - AISC $500,000,000 = Cashflow $112,500,000 - CAPEX $80,000,000 = EBITDA $32,500,000
HIGH
Revenue $637,000,000 - AISC $494,000,000 = Cashflow $143,000,000 - CAPEX $80,000,000 = EBITDA $ 63,000,000
DYOR
GLTAH
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