Spec
I am with flaming in thinking this announcement is positive. Obviously things could and probably should be a lot better, but then the share price would be a lot higher.
WGX is in a very solid position with $137m cash (which I assume includes bullion and investments) on hand and can ride out any issues that may arise from the Wuhan flue. They now have no further debt, but are encumbered with some hedges well below the current gold price (as are other Oz based miners).
The spend on Big Bell should be tapering off rapidly and this mine has started to deliver some useful tonnage.
I am comforted by this report, since my main concern is the spend on BB and the timing of output. Plus the possibility of a mining mishap there.
We will know more once the quarterly report is released.
Once WGX does deliver the output and costs they have forecast (say 280k ounces at AISC1350) then the share price may well be around $3.50-4.00. Just look at the market cap of RMS as a comparison which only has ore reserves for 6 years while WGX reserves cover about 10 years of production.
loki
Spec I am with flaming in thinking this announcement is...
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$2.54 |
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Mkt cap ! $1.203B | |||
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