Well....WGX continues to confound. On the one hand, their AISC...

Well....
WGX continues to confound.
On the one hand, their AISC has proven to be steady and relatively low, compared to like for like producers, even SLR sits above WGX right now (yet its worth almost double on an E/V basis).

Production was less than they had had planned (closer to 70k), which makes it incredibly hard for them to achieve the minimum guidance for FY2021.... which was last provided I think, around Sept 2020.... They have produced 188.4k in FY2021 so far. They would need a whopping 93.6k for the June Q. Lets just be honest, that simply is not going to happen. That being said, its in the past, but still... how long will it take before WGX turns to being conservative in their guidance. To be somewhat fair to them, they are at least going to beat FY2020 production wise (though this had to be the case, otherwise, Big Bell would be a total failure...)



Though when I look at this forecast from Back in August last year... sigh.... Todays numbers look very average!! They missed by 6k-14k!!
I will be very surprised if they can clear 70k for the June Q. Which would see them produce around 258k for FY2021. They will beat their AISC forecasts, however, I would dearly like to know the AIC. That is the true test, and to be honest, I think all gold producers should be providing this! (not picking on WGX in particular).




The amount of money that WGX has thrown into its 'growth projects', is simply incredible. Another $38m in the March Q. There was $32m in the Dec Q... $34m in the Sept Q.. that means so far this FY, WGX is up to $104m! In saying that though, RMS has spent a similar amount on their operations (but... WGX has spent a further $18m on plant/equipment...) I think a big part of the challenge for WGX, is its an owner operator for its mining. I would have hoped this had led to serious efficiencies, yet... to date, I cannot believe they are any better off. It should be spun out, but... no news on that.

However, when we look at the hard numbers for the Q. WGX.... actually made no money....wait, what?
Yep. Chuck in the $17.5m in cash for the Lithium assets, and they lost $2.5m (to be fair, they only made $1.2m in the Dec Q).
Now, having $178m in cash/bullion is a good position to be in, however, most of that has come from asset sales. WGX is now fairly streamlined as a pure gold play.

Big Bell reads at best, neutral, still more work to be done! Full 'ramp up' now in the second half of 2021.

I did like this.... (and the exploration results they did decide to share with the market)



In the end though, I just want to see WGX make real money, after.... sheesh, how many years now!!???
I have a small position. I would add more at $2.00, but... I cannot see a reason to rush in.

Good luck to all you patient holders!