Ann: Trading Update FY21, page-42

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Joelstar

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27/07/21

12:37

Post #: 54805122
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Originally posted by hightrax: ↑

Think some are spooked away from Oz gold miners a bit by the fall in the $US gold price. Part of that is a bit of a rise in the $US itself, but the fall in Us terms, about 7.5% roughly from its near peak about US $1950, more broadly, is cancelled out in $A terms by a 6.5% approx. fall in the $A from about 78.5 to 73.5 c US. So in practical terms, the revenue lost by the gold miners is negligible here from the fall in the $US gold price. I think we are going to see financial results quite a bit better than a more superficial reaction would suggest. Effectively they are getting the same money for the gold in $A as they did when gold was in the mid $1900-2000 range.

The lads in the foreign currency trading floor in NY know S.F.A. about Australia and think we are mainly a gold producer. I had to brief a representative of the famed Hudson Institute some years ago, when I was at the ABS, and I kid you not, he had no idea Australia was a major iron ore and coal miner in the seaborne trade. Yet the Aust. govt was employing them to get an outside overview of the Australian economy and future. Yep. I was able to give him a potted picture in about 15 minutes that really broadened his view. He went back to report and suddenly there was a wave of US banks waning to set up here to finance huge mining developments etc.

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WGX EV is now sitting below Shareholder Equity. Positive sentiment seems to have left the Aussie gold mining sector mostly because of cost increases and staffing issues. Obviously the floundering US dollar gold price is not helping however it doesn't seem to be the primary cause of this continuing weakness.

WGX Price at posting: $1.78 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $2.92		Change 0.010(0.34%)		Mkt cap ! $2.753B

Open	High	Low	Value	Volume
$2.92	$2.96	$2.91	$9.395M	3.205M

Buyers (Bids)

No.	Vol.	Price($)
1	18585	$2.92

Sellers (Offers)

Price($)	Vol.	No.
$2.96	31260	1

View Market Depth

No.	Vol.	Price($)
1	18585	2.920
2	1042	2.910
3	60330	2.900
1	12589	2.890
5	31829	2.880

Price($)	Vol.	No.
2.960	31260	1
2.970	41260	3
2.980	5693	2
2.990	13700	3
3.010	2700	1

Last trade - 16.12pm 26/06/2025 (20 minute delay)

WGX (ASX) Chart

Ann: Trading Update FY21, page-42

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Ann: Trading Update FY21, page-42

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