Ann: Research Report, page-2

Well worth ploughing through. My confidence this is at rock bottom and could easily double from here is only reinforced.

Any analysts here disagree?

The reason often cited for WGX being so undervalued is that it has too many ore sources for analysts to model, and (from experience) analysts in general are looking for any excuse to reduce their reporting load.

However, it seems to be more a case of ignorance over what Westgold actually has. Sure analysts and institutions know about Gold Road’s Yamarna or Northern Star’s Jundee, Kundana, and Kanowna Belle etc, but ask about the Day Dawn goldfield and you get a blank look, despite 1.2moz mined at ~20g/t at Great Fingall in the hammer-and-tap era of the late 1890’s to early 1900s. Or mention the DQ2017 exploration results from Aladdin. The usual question is where’s Aladdin; and there’s another blank look when you say it’s in the Nannine goldfield – in which the main old workings have not been touched for over 100 years.