Ann: Westgold builds $16M in Cash, Bullion and Liquids in Q4 FY24, page-13

Hey Wassa, well done on GOR and PNR.

Fair enough about Karora, I knew very little about it, except that it owned some of the old WGX assets that Peter Cook pawned off to keep WGX afloat.

The quickest snapshot for Karora are these two graphs.





The timeline is helpful, as I view Karora as undervalued (as its listed in Canada, perhaps that is part of the reason), especially when you look at the sunken capex spent to date on acquiring and developing all the assets now brought together.

Like WGX, Karora has been spending heavily on capex to get their premier asset, Beta Hunt up to 2mtpa. Though they look to be finishing their peak spend this year, versus WGX who will still have a substantial amount to go into early next year.



Beta is a unique mine... because it was not a gold mine (it was Nickel), but... now is, though all the Nickel is still there and could be a credit if brought back into production. I just view Beta Hunt as similar to Big Bell and Bluebird (huge, low/medium grade tonnes), hence, a good fit for WGX, plus they are also owner operator like WGX.



Anyway, if you get a chance, take a look at the recent company presentation - Karora presentations

Very much understand about reallocating your capital. You are spot on about timing, though, because of tax implications and... lack of better investment options (I just don't view any other producers are offering substantial upside with limited downside in WGX/Karora mergerd), I basically hold my main holdings until... well, the plan is when I get so exuberant and talk to my wife non-stop about my stocks, that she will firmly remind me to sell...