Agreed that $77M is a sizeable investment that needs some results going forward. To be meaningful, ACM needs to have revenue outside of WGX to maintain competitive statistics or else it will be merely an internal cost centre for WGX, regardless of any statutory consideration.
At the very least, WGX management have shown that they deal with the cards in their hands and are prepared to dispose/purchase according to the situation facing them, rather than hold on and hope for the best.
At current valuation, I am prepared to run with them. Their resources are appreciable and their reserves give good cover for their production. Even with a 2019 AISC of $1325/oz they have an EV/Oz that is on the low end of valuation for AU gold producers.
No doubt, if you are a short-term trader then you may have been caught out but that is not where I am coming from.
Agreed that $77M is a sizeable investment that needs some...
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Last
$2.80 |
Change
0.030(1.08%) |
Mkt cap ! $2.527B | |||
| Open | High | Low | Value | Volume |
| $2.80 | $2.82 | $2.76 | $9.255M | 3.316M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11822 | $2.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.81 | 48779 | 5 |
View Market Depth
| Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
| WGX (ASX) Chart |
