RE:Nice volume surge, near end of the daythere was some good buying out there not only today but already since late last week, nothing eye-catching but 20k bids emerging while in previous week it was an empty house.
yesterday a good 150k was bought at 36c and today, it was a nice surprise to see us trade at 40c+ only briefly but confirming the offer side may be less heavy than one would expect. we did some buying too today fyi
Wesdome is a highly sensitive to the price of gold, each $100 move in gold should contribute roughly $5mio (5c per share) to the bottom line with costs ceteris paribus
Even so far in this gold downturn, WDO has still a good to strong balance sheet, they reorganized their operations and have cut down costs in a drastic way while working to upgrade the mill in two phases. First phase will contribute from this quarter on to top line growth with a 50% potential.
Dont forget they met Q2 targets with only producing 2/3 of the time due to severe but very rare weather conditions.
With the worst behind us for the price of gold, I can say you one thing. very very clearly. One will be amazed to see Wesdome perform in the second half of this year.
Trappist
disclaimer: very happy to be long gold in in this gold player with a safe jurisdiction