Westgold delivered a pretty encouraging June quarter with all three mines producing at AISC of less than $1500/oz and the annualised rate of production is 250koz at $1408/oz. The major development seems to be behind them. As Big Bell mine ramps up, we can see the company moving gradually towards 300koz pa and I think AISC will fall to around this current levels. Using this assumption say of 280koz at $1350/oz at the current stock price of $1.90, I think we are talking about EV/AISC adjusted production level of $3500/oz, placing it at the slightly below fair value range for a mid tier miner of this calibre. Most of WGX's peers are trading at slightly higher levels.
I bought more today just to line up for the ramp up.
Ann: Quarterly Activities Report, page-9
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Last
$3.13 |
Change
-0.160(4.86%) |
Mkt cap ! $2.951B | |||
| Open | High | Low | Value | Volume |
| $3.25 | $3.27 | $3.10 | $19.94M | 6.303M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $3.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.15 | 4563 | 1 |
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