TSX:WDO - Post Discussion
Post by
loonietunes on Jan 18, 2023 10:35am
From Mark @ IKN
Wish I'd read this last night? Now this is getting silly algo's?
| | We can do this in one word: Sucks
| For more words: 4q22 production was light compared to guidance, sales even lighter and as a result, the operations aren't going to be much over breakeven. As for 2023, guidance at Eagle seems to be pitched to the conservative side in order to kitchen-sink the message and allow some potential room for upside, because the news out of Kiena is not good. WDO now won't access the high-grading deep levels until late 2023 at the very earliest, which means guided grade is much lower than expected and the while on-site operations should be modestly profitable, the combo capex budget and guided consolidated costs suggest a significant cash shortfall. No wonder WDO took out those lines of credit, it looks as though it will remain in negative working cap territory for at least three more quarters. We're also supposed to believe that Kiena Deep will come online January 1st 2024 and run on rails when it does, apparently.
| The bottom line? Same as the top line, this NR sucked and only the gold price can save it from new 52 week lows tomorrow. NR here.
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