Those words and the momentary smile might help you ponder from "Sadly for the podcast" Is RMS the ultimate target of WB Later in the podcast the comparison betweeen RMS and WGX was glaring pointed out by WB. In addition everywhere RMS use contractors to mine at a profit margin to contractors is a strength of WGX doing it at cost. The first thing BB at NST changed when he could at all mines for an extra 15-20 % cost saving. WGX spare mining equipment is currently sitting idle biding time.
Time to drop these shares in the bottom draw and sit back.
RMS market cap $1.3bn WGX $0,77bn
One busy on M@A because they have to and the other biding its time cutting costs and chasing 10yr mine-lifes and cash. Also from the podcast"We produce more ounces,they make more money from theirs" That level of disparity is soon to alter once hedges gone,grades rise and no doubt along with relevant market values. Small mills and trucking resources don't work in the end or words to that effect,also mentioned.
Probably dreaming of course ,but then held NST when it was around 4c and Paulsens was bought for a song. I now see the same type of personality traits in action here in WB. Fine attention to miniscule detail. Remember,WB getting rid of disposable plates and cutlery onsite and replacing with decent plates and cutlery says in a short labour market,we are here for the longer term,worth a fortune when keeping staff..Recruitment problems eased by better shift rotations as well after discussions with staff. It has been a good ride from around 75c so far. Looking forward to the extra 1 in front of the current share price in due course if he stays.
DYOR + DYODD IMHO -RMS have been nudged by WB into paying up at an inconvenient time for them and their shareholders for non producing assets at least a year from now away from production.If they had been smarter they would have got those STH Magnet tenements for a fraction of what they are now paying and MGV didn't pay that much upfront.
WGX Price at posting:
$1.61 Sentiment: Buy Disclosure: Held
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