What makes you think the cash drain will go on forever?
They bought ACM for $50m reinvested another $25m and lost $20m or so. That operation has been turned around and is marginally profitable (although I think some services charged to WGX at cost). So we have gone from severe bleeding to a small contribution to profitability.
The other 3 gold centres are reducing AISC significantly. The highest AISC gold centre has been sold.
The key to hitting 350k a year in production (and their flagship mine) is Big Bell which should hit full production in December.
It's a hard share to follow because they have started so many mines / plants but it would appear the heavy lifting has been (or close to) and with AUD gold very high we are close to capitalising.
Looks like a good turnaround story to me.
What makes you think the cash drain will go on forever?They...
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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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| WGX (ASX) Chart |
