Although not shocking,(all the troubles were already announced)...

Although not shocking,(all the troubles were already announced) it is indeed a terrible quarterly report.

Cash burn is unmatched by any gold miners on ASX.
It takes the Gold Medal for cash burn and more cash burn on the way.

(Just like CBA got the Gold Medal for charging customers for delivering nothing.)

So I am thinking next quarter WGX will end up with much less cash then they had end of March.

I had a feeling last Friday when insider was selling large volume off market(Cross trade).....at 500000 lot at 1.485

Based on this quarterly report 1.30 is not out of the question.

There is very little retail participation in this stock. So the big boys have no one to rip off other then themselves. That is why we see little reaction today. But they will need the retail public to offload.

WGX had a great plan......but for some reason the plan is not working Or it is taking more time and money then initially conceived.

Never had a large holding in WGX as the traded volume was always worrisome, I sold most of them and now have a tiny volume in the bottom drawer. I already hold a large position in the greatest dog of all time, this dog I think I can do without.

I can't even see a rising gold price helping WGX when the cost are so high.

At 1.30 it will still be close to half a billion market cap and over 400 million Enterprise Value for a company losing money left & right. The company says no debt but doesn't consider 25-27 million dollars worth of Gold Pre-pay as debt(strange)

Anyway my Kennel is full of dogs. I will wait for this one to buy if it goes below 1.30