@wassa
The way I see it Spec, GCY is a better than 90% chance of being swallowed up by WGX.
What we know so far...
* Peter Cook has publicly stated that Westgold will look at purchasing GCY again if the opportunity arises (GCY is asset rich, reserve poor and under a 100 million market cap). Sounds like the perfect opportunity!
* Westgold is reserve rich and processing infrastructure poor. Dalgaranga Processing plant can operate at up to 3.2mtpa if fed fresh oxide rock. This adds potentially 75% more to Westgold's processing profile at a cost of below 20% dilution.
* Gascoynes processing plant currently processes ore at a rate of $13 per ton cheaper than WGX's Murchison Processing Plants ( Last quarter WGX processing cost was $27 per ton whilst GCY was $14). At 3mtpa this is a saving annually of $39,000,000 per annum in processing costs.
I can see the potential for the combined WGX/GCY entity to package up the
Fortnum Processing Plant with Starlight UG, surrounding small open pits, Peak Hill, Glenburgh, Mt James and Mt Egerton.
They can either sell outright to a miner like GOR or DGO, or they could potentially sell of a portion of the project to a JV partner or just list as a spin off IPO.
This would recoup a large portion of the GCY investment whilst still boasting a production profile of up to 6mtpa with what looks like a more efficient wheel and spoke model with multiple mines feeding multiple processing plants.
If and when WGX purchase GCY, I will remain a holder of WGX. WGX has a great deal of upside if this obviously synergistic takeover eventuates.
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- Ann: Westgold Corporate Presentation 2022
WGX
westgold resources limited.
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Ann: Westgold Corporate Presentation 2022, page-5
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Last
$2.61 |
Change
-0.015(0.57%) |
Mkt cap ! $2.457B |
Open | High | Low | Value | Volume |
$2.64 | $2.65 | $2.59 | $6.352M | 2.432M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
42 | 52382 | $2.60 |
Sellers (Offers)
Price($) | Vol. | No. |
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$2.61 | 110502 | 85 |
View Market Depth
No. | Vol. | Price($) |
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40 | 40137 | 2.600 |
21 | 100376 | 2.590 |
20 | 109857 | 2.580 |
17 | 119069 | 2.570 |
14 | 74021 | 2.560 |
Price($) | Vol. | No. |
---|---|---|
2.610 | 109791 | 83 |
2.620 | 122920 | 28 |
2.630 | 86466 | 17 |
2.640 | 87631 | 15 |
2.650 | 26184 | 8 |
Last trade - 15.44pm 30/07/2025 (20 minute delay) ? |
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