Looking at this latest announcement... it seems as though they sold their non core assets and have raised the cash to pursue other investments.....
"Mr Peter Cook will remain as Westgold’s Executive Chairman for a further six months but will step back from operational management as of 1 July 2020 to focus on strategic growth options for the Group."
That is the clarity I have needed for "the sale of other non core assets." I will likely add more to my portfolio tomorrow, however, I am heavily invested in BGL right now and it has been very good to me. I expect this to continue to be the case for the immediate future.
The WGX 10 June investor presentation to me hinted that the "growth phase and expense" of big bell has now finished and this is now in full production of ore and now a cash cow mine.
slide 8 "passing the tipping point of heavy cash investment to free cash flow"
slide 14 "adding 100000oz to the cgo plant, production ramping up to the 1 million tpa.
This was also confirmed in the latest board change announcement where it talks about being in the next phase.....
Sounds like $$$$$$$'s to me
Looking forward to this being re rated in the very close future.
WGX Price at posting:
$2.03 Sentiment: Buy Disclosure: Held
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