A pretty poor result I thought loki. I was only ever in this for a trade following the upswing from last positive quarterly because I feared that high costs would return (and there were some warning signs of this in previous quarterly). 5pm issue on the last day of the month is also not what I like to see, although at least they are consistent in this regard!
I don't like how they state working capital either. PRU has started doing this a bit but they still show the cash and bullion figure separately.
Seems like SAU is almost done for now except for a small underground adit. WGX won't have the low costs there for much longer helping out the overall AISC, so will need CMGP and HGO to drop toward A$1200 to justify valuation.
From reading MLX/WGX reports over the last couple of years I can't help but think their cost guidance figures are frequently on the optimistic side. Any issues at the mine site (like rain) push the cost up significantly and the value in the stock disappears.
WGX Price at posting:
$1.86 Sentiment: Hold Disclosure: Not Held
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