WGX going well today @ $1.305 +5.67%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.
Well it's given me a "smile on my dial" as I enjoy my cappuccino this morning1,000th 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.”
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( DYOR )
i hold WGX
that should cheer up @Telamelo
Thanks @divs4ever .. I'm happy to continue accumulating below $1.20WESTGOLD 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
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.am still tilting ( slightly ) towards other producers i hold
enjoy my share
cheers
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...
Negative 50 million in cashflow last half. Costs have only gone up and gold price gone down since then.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...
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
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.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.
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.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
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