Don't get me wrong, I'm no cheer leader for WGX and I've called them out many times for their bullshit, however everything you accused the WGX BOD of not disclosing was disclosed in the report.
The AISC average was $1582 which was a considerable increase over last quarters $1414. I think you might be confusing AISC with AIC. The AIC includes PPE and Growth capex. This is why they lost money for the quarter. Big Bell has once again chewed up over half of the growth capital. It has been a bottomless pit when it comes to capex expenditure (one thing I've bagged them out numerous times for).
Westgold paid a dividend on the 15th of October. I believe you will find that most shareholders took the DRP option which entitles them to WGX shares at a 7.5% discount to the 5 day VWAP.
It was mentioned very clearly in the report that WGX sold less gold than they produced for the quarter. I applaud them for this. If you believe that the resource you're mining is going to appreciate in value, then why not hold bullion instead of fiat?
Really wish more Goldies would do this. SLR's cash balance is an absolute joke. It's just been sitting there for a couple of years now rapidly deflating away.
I certainly agree with you that the quarter was hardly the rousing success as they all proclaimed it was. The thing I find most disturbing is the cash and equivalents dropping for the second consecutive quarter. Not a trend anyone like to see in a successful business.
WGX Price at posting:
$1.93 Sentiment: Hold Disclosure: Held
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