yes being drawn down to plan-monetised and probably creating buffer mill site stocks of higher grade feed ready to blend in as well...in case of mining disruptions due to weather,no doubt,to keep consistent mill tons processing for future record tons processed.
Some of the prior quarters issues dealt to ....the lack of buffer high grade i suspect,disrupting milled ore.
But did you notice the set milling grade.......the above was the question?
You can also assume those stocks used to blend down weren't necessarily the pit material recently mined.
Do the maths and find the grade.
So now you reckon GCY is on the block ?
Instead of being a great explorer coming back as a phoenix miraculously to live again with its great management and numerous stupendous drill results without cash for mine access or the skills to do it?
There always was existing access between the GCY mill that could be used including some main roads,without much cost as far as I am aware.
Nothing has changed from the original offer EXCEPT........THE CONSIDERABLE DESTRUCTION OF VALUE now on offer in GCY,
GCY Mill requires remanning and restart at considerable COST,
NOT ANYMORE a simple case of trucking ore over,milling and banking the generated cash without an increase in site expenses,WITHIN THE FIRST MONTH after takeover,easily adding 2.5Mt of profitable ore processing yearly VERY VERY QUICKLY and CHEAPLY.
GCY's cash reserves at a guess are probably near non-existant as well with its cash burn along with any accessable ore above 1g/ton,so no economic local feed now either. The last 600kt squandered by my calcs filling the tailings pile,that now needs a lift immediately I believe costed at $6m.
If in that time it also hasn't diminished the total asset values of GCY compared to when it was a physically running operation by $90m or so since the initial offer I wouId not be surprised,
Quoted cheap mill running costs of $14 always excluded power plant lease costs,one reason why costs didn't add up to me.
All costs have just gone up including the costs of putting right what has IMHO gone wrong at the GCY site since then the original offer was made.
DYOR + DYODD -Whatever WGX management decide to do is OK by me as I see a sharp focused management team taking decisive calculated action,with a view soley towards lowering costs chasing consistent long term profit generation and long mine life.
Noted $10m budgeted for corporate actions?
- Forums
- ASX - By Stock
- Has anyone else noticed
WGX
westgold resources limited.
Add to My Watchlist
1.35%
!
$2.93

yes being drawn down to plan-monetised and probably creating...
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
|
|||||
Last
$2.93 |
Change
-0.040(1.35%) |
Mkt cap ! $2.763B |
Open | High | Low | Value | Volume |
$2.94 | $2.98 | $2.93 | $33.24M | 11.34M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 663107 | $2.93 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.94 | 369285 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 663107 | 2.930 |
15 | 758324 | 2.920 |
7 | 164579 | 2.910 |
7 | 87258 | 2.900 |
5 | 161098 | 2.890 |
Price($) | Vol. | No. |
---|---|---|
2.940 | 369285 | 3 |
2.950 | 20105 | 4 |
2.960 | 125590 | 3 |
2.970 | 72664 | 4 |
2.980 | 29432 | 3 |
Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
Featured News
WGX (ASX) Chart |