Hi Spec,As you know for sometime I have been a little sceptical...

Hi Spec,

As you know for sometime I have been a little sceptical of the WGX plan and a “salesmanship” approach by WB … thou in fairness in his tenure, WB, has made some good decisions for the longer term and importantly prioritising exploration and drill out / extension of current mines will ultimately lead to much better future mining outcomes imo.

The rain event has shown how vulnerable WGX is in regard to mill feed, essentially hand to mouth ( mine to mill ) with no redundancy in production to build high grade stocks of stockpiled ore. Maybe also some under estimation of the time needed to achieve first results at Great Fingal exacerbates the problem.

Interestingly, you mention the comparison to SLR, over Easter I was thinking about how SLR management had basically idled there sp with the RED merger decision whilst WGX surged ahead … and today WGX operational problems instantly evened the two … it really emphasises the volatility of mining stock exposure as an investor. I will dig the numbers back out for when the quarterlies are released as I have forgotten the baseline numbers.

In saying all this it might surprise you I re took a small position today, ultimately this qtrs issues will be sorted and the current gold price strength if maintained will flow thru balancing some lost production.

As always my initial investment methology is around 6 months forward so will see how I go this time.

Our PNR profits may have to keep us going in the meantime ..