Looks as if WGX has raised some cash via the CR so that it can pay a dividend again, and bury some more money in the ground. The company gets repeated feeds from CRs and asset sales.
WGX is a play on a higher gold price. I have given up on any expectations of them becoming more efficient and generating income to meet their capex.
I really doubt production will reach an annualised level of 400k ounces in 2024 - heard this promise before from them.
Best to buy WGX on a major pullback in the AUD POG and sell when the gold price has gone for a bit of a run. If there is a global recession later in the year/early 2023 then gold and goldies are likely to cop it, especially high cost operators like WGX.
GLA.
loki (Cookie needs to move on, and let WGX merge with a better managed company.)
WGX Price at posting:
$2.13 Sentiment: None Disclosure: Not Held
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