No numbers in mind. A few reasons I'm calling nasty surprise:
I held gold miner shares during 2014-2016 when oil price dropped end 2015/beginning 2016. Suddenly gold miners started making stupid profits from being nearly unprofitable. Then I learned that fuel price is pretty significant in mining costs. Oil rising 20% over the quarter is not going to be great across the sector.
Of all the excuses WMX put in their quarterly for the dismal performance last quarter and the expected dismal performance for this quarter, none of them were fuel-related. Either it's completely insignificant or it is just starting to hit.
Lastly, I've held BLK previously and followed WMX ocassionally. For some reason, they never cease to disappoint. Ocassional great drill results and one good quarter, followed by sequential dismal quarters then capital raise. BD was ousted, but the pattern remains.
WMX Price at posting:
98.0¢ Sentiment: Sell Disclosure: Not Held
