Westgold Resources (ASX: WGX) – Dominant in Murchison
ABOUT COMPANY
Westgold Resources (WGX) (https://www.westgold.com.au/) is the dominant explorer, developer, operator, and gold mining company in the Murchison and Bryah regions. It operates six underground mines, and several open pits and owns all three processing plants in the region, namely, Bluebird and Tuckabianna, Fortnum processing hubs.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| WGX | 2.12 | 473622730 | 1004080187.6 | 88/475 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 8332 | 84.21% | 84.53% | 0.14% | 9309304 | last raise $100m@$2.1 |
In May 2022, the CEO resigned. Thereafter, the company made $175m impairment in FY22.
No gold hedge.
FLAGSHIP ASSETS
Bryah and Murchison Gold Mine
Below are the company’s reserves 2023 (estimated by the company staff):
SUMMARY
FY23 will be a wash up year, effectively, it doesn’t make any money at gold price of $2,500.00.