RJM19: (IMO) You're right, Fullarton's comparison is "apples to oranges".
She's comparing ounces hedged to ounces RESERVES, whereas the common comparison is ounces hedged to ounces of PRODUCTION.
Westgold has approx 42% of next year's 285k ounce production hedged, at $2062A/oz. 285k is the mid-range of FY2021 production guidance.
Westgold's 42% at 2062 is pretty common; SAR also has 42% of next year hedged at 2025, SLR has 28% hedged at 1903, and RMS has 47% hedged at 2050. What's weird is SAR, SLR, and RMS will throw off free cash like fire hydrants despite the hedging, if past history holds, while WGX will relatively underperform. Let's go, Big Bell!
Ann: Westgold Annual Resource and Reserve Updates, page-7
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Last
$2.64 |
Change
-0.090(3.30%) |
Mkt cap ! $2.490B | |||
| Open | High | Low | Value | Volume |
| $2.73 | $2.75 | $2.63 | $18.57M | 6.972M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 62497 | $2.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.66 | 31612 | 1 |
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| Last trade - 16.10pm 25/07/2025 (20 minute delay) ? |
| WGX (ASX) Chart |