Australian (ASX) Stock Market Forum

WGX - Westgold Resources

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i added more TRS and am not that far off extra KGN

but i strongly suspect another attempt to suppress the gold prices soon

that 11 cent order for ( extra ) AIS i have in doesn't look so hopeless, currently either

good luck
 
WGX is one of the few companies bucking the trend today after reporting record gold production in May from the company's Bryah and Murchison operations with 25,100 oz produced.

Also interesting to note is that Morgan Stanley has ben buying WGX shares since February and is now a substantial shareholder with 25,236,516 shares (5.33% of the company) held.

Some welcome good news from WGX after its share price has effectively halved since early March. It looks like $1.165 might have been the bottom for WGX.
 
greggles said:
WGX is one of the few companies bucking the trend today after reporting record gold production in May from the company's Bryah and Murchison operations with 25,100 oz produced.

Also interesting to note is that Morgan Stanley has ben buying WGX shares since February and is now a substantial shareholder with 25,236,516 shares (5.33% of the company) held.

Some welcome good news from WGX after its share price has effectively halved since early March. It looks like $1.165 might have been the bottom for WGX.
Click to expand...
WGX going well today @ $1.305 +5.67%

Glad/fortunate to have bought back in on recent low's as starting to really shape up/gain upward momentum imo
 
Nice bounce again today @ $1.275 +5.37%
(seems like there's strong underlying support between $1.16-$1.20 levels imo)
 
1,000th GOLD BAR
POURED AT FORTNUM
Westgold Resources Limited (Westgold or the Company) is pleased to announce a major production milestone
at its Fortnum Gold Project. On Sunday 26th June 2022, the Fortnum team poured ARAG1000G – the 1000th bar
produced since Westgold recommissioned the project in May 2017.
Ounces produced project to date since plant refurbishment and wet commissioning in May 2017 to 26th June
2022 (unreconciled) is approximately 287,559 oz.

Managing Director, Wayne Bramwell said
“1000 bars poured is a significant achievement. We acknowledge all the Fortnum team, past and
present who have set the project on the path to this milestone and look forward to this small but
dynamic team kicking more goals in the future.”


======================================================================

( DYOR )

i hold WGX

that should cheer up @Telamelo
 
divs4ever said:
1,000th GOLD BAR
POURED AT FORTNUM
Westgold Resources Limited (Westgold or the Company) is pleased to announce a major production milestone
at its Fortnum Gold Project. On Sunday 26th June 2022, the Fortnum team poured ARAG1000G – the 1000th bar
produced since Westgold recommissioned the project in May 2017.
Ounces produced project to date since plant refurbishment and wet commissioning in May 2017 to 26th June
2022 (unreconciled) is approximately 287,559 oz.

Managing Director, Wayne Bramwell said
“1000 bars poured is a significant achievement. We acknowledge all the Fortnum team, past and
present who have set the project on the path to this milestone and look forward to this small but
dynamic team kicking more goals in the future.”


======================================================================

( DYOR )

i hold WGX

that should cheer up @Telamelo
Click to expand...
Well it's given me a "smile on my dial" as I enjoy my cappuccino this morning :)

Having said that, WGX owes us shareholders some gold bar's! lol
 
WESTGOLD DELIVERS RECORD FULL YEAR PRODUCTION GUIDANCE
AND QUARTERLY RESULT
Westgold Resources Limited (ASX: WGX) is pleased to advise that the Company has delivered itsfull financial year
(FY22) production guidance1 of 270,878 oz.
Highlights
 Record Group production of 270,878 oz for the full year meets FY22 guidance
 Record Group production of 72,591 oz for Q4, FY22
 Record quarter production from the Cue Gold Operations of 24,797 oz for Q4, FY22
 Full year costs to be reported in quarterly results once final reconciliations completed and expected to be
within +/-5% of full year guidance
Managing Director Wayne Bramwell commented:
“Westgold has delivered three solid quarters and a cracking Q4 production result that has seen the
company achieve its FY22 production guidance.
Our team has met every challenge that FY22 has thrown at them, and this result is testament to their
resilience and ability to find a way to succeed. In FY23 the focus will be on simplifying our business to
enhance profitability and Westgold starts FY23 with renewed focus, continued commitment to safety and
confidence in our future. “
THIS ANNOUNCEMENT IS AUTHORISED FOR RELEASE TO THE ASX BY THE DIRECTORS.


======================================================================

( DYOR )

i hold WGX
 
divs4ever said:
WESTGOLD DELIVERS RECORD FULL YEAR PRODUCTION GUIDANCE
AND QUARTERLY RESULT
Westgold Resources Limited (ASX: WGX) is pleased to advise that the Company has delivered itsfull financial year
(FY22) production guidance1 of 270,878 oz.
Highlights
 Record Group production of 270,878 oz for the full year meets FY22 guidance
 Record Group production of 72,591 oz for Q4, FY22
 Record quarter production from the Cue Gold Operations of 24,797 oz for Q4, FY22
 Full year costs to be reported in quarterly results once final reconciliations completed and expected to be
within +/-5% of full year guidance
Managing Director Wayne Bramwell commented:
“Westgold has delivered three solid quarters and a cracking Q4 production result that has seen the
company achieve its FY22 production guidance.
Our team has met every challenge that FY22 has thrown at them, and this result is testament to their
resilience and ability to find a way to succeed. In FY23 the focus will be on simplifying our business to
enhance profitability and Westgold starts FY23 with renewed focus, continued commitment to safety and
confidence in our future. “
THIS ANNOUNCEMENT IS AUTHORISED FOR RELEASE TO THE ASX BY THE DIRECTORS.


======================================================================

( DYOR )

i hold WGX
Click to expand...
Thanks @divs4ever .. I'm happy to continue accumulating below $1.20
(if possible)
 
divs4ever said:
am still tilting ( slightly ) towards other producers i hold

enjoy my share

cheers
Click to expand...
I believe you will be found to have been more prescient than the analysts aka analists who are paid by some poor subscribers for this kind of advice.

Taken from consensus recommendations at Commsec for WGX

1656983831878.png


So they've gone from a hold to a strong buy after an announcement and commentary in the popular press over the weekend.

I must admit the total traded thus far this morning would be hard put to buy one a Macmansion in Borroloola.

I'd be waiting, then I may be wrong.

I'll read it in the popular press.

gg
 
Telamelo said:
How ridiculously cheap is WGX becoming trading around 52 week low's here !?!? Opportunity of a lifetime beckons topping up imo as sooner or later Gold will go for a big run much higher...
Click to expand...
Negative 50 million in cashflow last half. Costs have only gone up and gold price gone down since then.

Cheap for a reason.
 
Good afternoon,
WGX 17.6% hit today after reporting FY22 results. 52 week SP low


No final dividend was declared; EBITDA decreased by 17% to $209.2 million
Net loss after tax of $111.1 million, reversing FY21’s profit of $76.8 million
Non-cash impairment charge of $175 million, relates to the Big Bell, South Emu Triton, Starlight, and Open Pits mines.

Higher costs, particularly diesel and supply chain issues.

FY23 guidance shouldn't realise any issues :)

Not holding. Do hold regularly though.

Kind regards
rcw1
 
rcw1 said:
Good afternoon,
WGX 17.6% hit today after reporting FY22 results. 52 week SP low


No final dividend was declared; EBITDA decreased by 17% to $209.2 million
Net loss after tax of $111.1 million, reversing FY21’s profit of $76.8 million
Non-cash impairment charge of $175 million, relates to the Big Bell, South Emu Triton, Starlight, and Open Pits mines.

Higher costs, particularly diesel and supply chain issues.

FY23 guidance shouldn't realise any issues :)

Not holding. Do hold regularly though.

Kind regards
rcw1
Click to expand...

I re-watched their D&D presentation earlier today, which was very positive, with no signs of bad news. I'll watch again to make sure I didn't miss something.
 
Sean K said:
I re-watched their D&D presentation earlier today, which was very positive, with no signs of bad news. I'll watch again to make sure I didn't miss something.
Click to expand...
Good evening Sean K, funny you should say that, as read through a couple of times too to help explain what happened today with the SP.
Anyways, rcw1 doesn't have too much to be concerned about with WGX. Will look to pick up on Monday once the dust settles perhaps.

Kind regards
rcw1
 
rcw1 said:
Good evening Sean K, funny you should say that, as read through a couple of times too to help explain what happened today with the SP.
Anyways, rcw1 doesn't have too much to be concerned about with WGX. Will look to pick up on Monday once the dust settles perhaps.

Kind regards
rcw1
Click to expand...
Below is data purely from the cashflow statements of the annual reports for westgold. Probably took me less than 10 minutes to type up. I stripped out capital raisings and debt and the original metalsx demerger. If WGX didn't have continual capital raisings to hold their head above water the company would likely be long gone by now.

From my basic analysis I see a company which doesn't do a very good job at printing cash... You should be asking yourself as a shareholder - at what point does the payoff come? When does all the invested capital pay back? 6 years is a very long time to wait for a return. Certainly, no feasibility would be greenlit if it had a 6-year payback period. When these clowns talk about a $175 to $200 million "non-cash" impairment it's a complete load of bollocks and corporate doublespeak. It was cash several years ago before it was spent then written off.

Diggers and dealers is a pep rally for tired old white men and substandard investments. It's not surprising we don't learn very much from the presentations!

1663141666007.png
 

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