Hey Flaming, not sure if you saw my post above, but I estimated...

Hey Flaming, not sure if you saw my post above, but I estimated they had around $125m in cash/bullion/assets as of early May.
While you are correct about their debt now being finally removed. They state they sold 65k.. not produced, which I estimate means, they produced around 63k (as they produced another 2.1k extra last quarter, which will have likely been sold which will make the AISC look better overall.

With the increase in the share price of MGV (I estimate approx $15m increase), I still estimate that at best, WGX generated $10m, which enabled them to pay off the debt.
Out of interest, why do you think the undertook the capital raising? When as you say, they are sitting pretty.

@loki01 - appreciate the reply and I know have a blind spot for WGX, as in, I just find it very hard to the positives.
I heartily agree with you about the hedging, after RRL, I feel WGX has the most encumbered hedging. They will be selling 10k per month until late 2021 at $1891, and then the final 6 months will see prices of $2350 AUD. So until Bell proves the goods, WGX is at least 50% hedged.



Fair point about the share price not performing. What did you make of the announcement today in regards to Bell's expectations of them aiming to produce 500tpa. At 3g/t, that only sees only 48k ounces per year. Am I missing something? The company states the Bell will add 100,000 ounces to their production profile going forward. I can only take it, that the 100,000 ounce target, is for.... future years?



Finally, I re-read the update on the management changes, and could not help but wonder how their thinking has gone full circle... to wanting to spin off the underground contracting business. Did WGX buy up the contractor because it needed to...wanted to... or... I won't say it on HC, but.. I seriously do wonder about the why.


Good luck to all holders. I apologize for my negativity.