With the price of gold going up and production going up as well, there may still be a glimpse of hope for GBZ. Personally I am of the view that management and Collins are not going to sell WD any time soon and will instead try to increase revenue by either forming a JV or some other type of arrangement with their neighbors, as constantly mentioned in all their recent announcements.
2-3 years ago WD was producing +500oz/quarter. If they can replicate that at today's prices, that would equal +$6M/year in revenue. Plus copper production, Mt Morgan divestment, NOVO shares, JVs, and their current resource. Not too bad for an explorer with a market cap of $9M.
I would expect WD to be cash flow positive this quarter; but these guys are always full of surprises unfortunately......
My biggest concern is that PR is not a business man and that is one of the reasons why GBZ are where they are today. Not sure how he would run the show, but the potential is there and Collins appreciates that and that is why they are so keen to get involved, those guys are not in the business of losing money.
IMO
GBZ Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
