It looks pretty simple. WGX wants to say it is making cash, but isn't, even at gold prices AUD800/oz higher than there were this time last year. To do a CR now says Westgold 2.0 is all marketing guff and the old Westgold 1.0 of grow and burn cash is all Wayne can do with the team. Maybe Karora is aimed up hiding and funding the deep low grade high cost mines capital is endlessly being poured into. The market has rewarded it so far but it will be harder to ignore company's like RMS that have new shallow operations that will be funded through organic cash growth.
Upsetting suppliers by not paying them will also have consequences.
WGX Price at posting:
$2.67 Sentiment: Sell Disclosure: Not Held
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