Well... WGX declares a dividend... hmmm... surely, they can afford to right now, because year after year they have sold off assets, raised capital and been lucky with a rising gold price. Just feels to me like what RRL did a few years back, paid dividends, even though they knew they should have been focusing on extending the mine lives of their 3 plants and building up a cash reserve. Instead, they paid out more dividends than what they cleared with free cashflow.... that is called unsustainable.
Nothing has yet changed enough for me to add to my very small holdings.
WGX is cheap... no doubt about that. Good luck to all holders.
WGX Price at posting:
$1.76 Sentiment: Hold Disclosure: Held
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