Wow, my pessimism was totally unfounded! Indeed well done to the whole WGX team.
This was the Mar Q result. Exactly the same amount of hedging for both Qs. So the only difference was the spot prices and.... amount of ounces. $24m cash build is way above my expectations too. Sitting at an E/V of around $570m. Crazy.
The Sept Q is indeed going to be very interesting, with the hedge running off for good. Though of course, we are still awaiting guidance for FY2024. I am loath to even estimate it, as there are so many potential operations changes that the WGX team can look at. Like restarting small U/G mines like Fender, or.... restarting 1 or more of the open pits. I guess 240-260k would be great with energy costs starting to come down. Just a stable year for WGX is a huge deal, in terms of rebuilding its operational performance and proving to the market that WGX has changed for the better.
WGX Price at posting:
$1.59 Sentiment: Hold Disclosure: Held
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