For better or worse, I continue to add to my position in WGX. E/V of perhaps $325m.... But... that is not what makes me buy it, its because its becoming a real miner. Costs are going to keep coming down, and production is rising. Basically, what you want. Most of the sector was down today, perhaps due to my twitter feeds being full of charts showing the USD index will bounce higher etc (gold lower). Perhaps it will, but, I don't think much higher, then... it will continue its slow trajectory lower.
I have been pivoting slightly back from African producers to Australian ones, mainly due to political/country risk. There are risks in Australia too, but... with an economy slowing and staffing issues now fading, WGX and hopefully all W.A producers are going to face less headwinds.
One of my favorite stocks, WAF is down 31% in just a few weeks. WGX has held up better all things considered. Even PRU is down 19% 9market darling), CMM is down 24% from the recent highs. WGX is down 27%.
I am really hoping WGX is the predator in any upcoming corporate action. I think WB is doing a very good job.
WGX Price at posting:
97.0¢ Sentiment: Hold Disclosure: Held
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