WPG 0.00% 1.5¢ wpg resources ltd

Who is still a holder on this board?, page-19

  1. 8,383 Posts.
    lightbulb Created with Sketch. 2752
    No surprise there, back in Oct 2013 the Australian gold price was $1,350 and most aussie gold stocks were taking large write downs (SLR, SBM, RMS etc) predominately due to a high Australian dollar and an expensive cost base, mostly labour and fuel. The cost base has fallen significantly since, thanks to the end of super cycle in bulk commodity, which also has helped the Australian dollar fall 25%. I heavily doubt that those lofty days will return ever again as China is slowing and changing from a construction based boom to an internal consumption based economic model.

    Good work on getting out and making some money elsewhere. As I said to you previously, if your reason for owning a company has changed and you don't like what you see, then why are you holding (this is not advice but how I conduct my investments, we all have different ways and reasons).

    Personally, I'm sticking with WPG a little longer as I believe (and Chris rightly points out) if Challenger can't be restored to CF then the UG operation can be put on C&M. Management can then turn their focus solely to ramping up Tarcoola which will provide decent CF. They could then focus on drilling out Challenger and rebuild a more robust mine plan. However, the speculation re change of contractor at Challenger does make me think that most of the selling and need for funds is due Pybar and what happened at mine site with them we may never know. Others have pointed out slow production meters and equipment reliability issues, again, speculation from posters but does make sense.

    Anyhow, how I don't like the way you lambasted your views, I do with sincerity wish you the best because I'm not bitter.

    Seth
 
watchlist Created with Sketch. Add WPG (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.