WB has been rapidly improving shareholder communication and he...

WB has been rapidly improving shareholder communication and he should be commended for this.
That being said I still believe this last presentation was disappointing.
All listed companies need to understand that there's ever increasing competition for investment dollars.
Therefore, it is imperative the information is up to date, informative (to both new and old investors) and presented in a cohesive manner.
Most people skim through information hence they could easily be under the misconception that the hedgebook still has 70,000oz deliverable instead of 50,000oz.
Presentations are dynamic and need to be updated regularly (not some footnote afterthought).
The recent 33% dop in share price could indicate that Wassa and myself aren't the only ones paying attention to the lack of detail!

What I think this presentation could have included:

* Updates on individual mine performance over Jan, Feb. Leaving this out creates doubt. Has Starlights issues been sorted out? How is BB, Bluebird and Patties tracking since Dec? Remember there is still an historical overhang of distrust as the WGX brand was renowned for constantly overselling and under delivering.
* Sell the benefit of an unwinding hedgebook and actively show graphically how this could positively impact underlying profits. Shout from the rooftops that forward hedge sales are currently falling 9,000oz a Q (this equals +2m est revenue per Q) over next two Q. and 30,000oz (this equals +7m est revenue per Q) from June Q.
* Graphically sell the benefits of converting to gas power plants. WGX have gone from using 8.5 million liters of diesel to using per month to 5.1 million liters. This is amazing. Once again this should be shouted from the rooftops and not buried at the end of the verbal presentation. What projected effects will the gas plants have on further reducing monthly diesel usage? Oversell this as it is a significant point of difference in this ESG obsessed world!
* What happened to the Fortnum mill upgrade?
* No mention of how Westgold's mining division sets them apart from the competition during a period of contractor margin inflation! That's a massive point of difference. Make sure everyone who read this presentation know this.

Once again there is a huge fight for that harder to find investment dollar!
Don't just presume investors will paint between the lines.
Force feed them the positives through tangible figures and diagrams!


I still believe Wayne can turn WGX from a laggard to a leader.
There is always room for improvement.