I am not as negative on the report. AISC was 1552 per oz this Q. Last Q was 1557. Two Qs ago was over 1705. The report reads they expect improvement. (Mind you, all gold miners say next Q will be better)
Do you readers of the report believe EBITA of $12 mill?
One thing that annoys is the different layout Q after Q. That cash and gold is in different spots. But they did lose 11 mill cash. That is last Q was 56 mill now is 45 mill. I 'wonder' where that money went. You dont make millions in EBITA and lower your AISC and LOSE MONEY.
If this is the nadir for them it is all OK. I will need to read very closely to see if all the 'she'll be much better next Q or next year' is achievable. Since their cost of production is so high, WGX is quite the 'play' on gold price only. The current $1748 is a lot better than the achieved last Q (average price was 1708, with the 1737 hedge in the mix)
WGX is quite the messy company to sort out.
re the shorting, I am pissed that this 'not great / poor' quarterly was know to the market. I think WGX let the report out five days early, as they know the info was common knowledge in the market. I have always noticed mining companies trade, the weeks or month before a quarterly in the 'right direction' the the quarterly will say. Good Qs and shares trade mysteriously UP before release. Bad Qs and share trades down before Q is released. BDR was a classic for this.
We all know their is a lot of trading in the market on inside information. But ASIC really only cares about the appearance of correct market operation. I really try to avoid little companies (like WGX) as there is too much shonkiness happening. BHP, Banks, etc trade pretty honestly. These wee companies, the info out and about before the retail punter learns via 'announcements'. Heck, these ASX announcements should be titled: 'here is some info everyone on the inside has known for a while, but we want to let you mug punter at least know why you are being screwed.
I am not as negative on the report. AISC was 1552 per oz this...
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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 |
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| Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
| WGX (ASX) Chart |
