It's a miss for me in terms of production. Albeit a small one. I was hoping for 65,000 ounces.
Having said that the cash build was solid given the capex requirements. But yet again every 1,000 ounce shortfall is worth $3 million. So had production been 65,000 ounces cash build would have been over $30 million.
There's no doubt though that WGX is still good value even at these production rates.
GOR has a market cap of $2 billion, twice WGX but only produced 37,0000 ounces and $14 million in cash.
I'm waiting for a mid-tier WA goldie to hit 70,000 ounces per quarter on a consistent basis. RMS and SLR have let me down. Will WGX be able to get there or fall short like the others?
MEK is definitely good value. They would have spent over $50 million in exploration and stoping already. May be narrow width but at $3,000 an ounce surely worth a crack.
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