This company is what I would classify a ‘risk on’ trade - hugely leveraged to the gold price, high cost, low quality management and high risk in the sense that their major ore source is a technically challenging sub level cave with not the greatest history of geotechnical issues.
In the scenario we are currently experiencing the market has gone risk off... outta equities, and into safe haven assets like cash, bonds and physical gold. I’m not surprised WGX is getting a slapping, leverage works both ways. Looks cheap.
WGX Price at posting:
$1.32 Sentiment: None Disclosure: Not Held
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.
(20min delay)