GREY:GRFJF - Post Discussion
Post by
bstephanie on Apr 20, 2008 11:01am
Western Goldfields Annual Report out
IThe Company is now valued at $ 190 an ounce ( Enterprise Value ) which is an increase from $77 in June of 2007. However, the Company aims at the peer valuation of $310 an ounce.
The hedge book is a negative - but was done at a third of production in order to be assured of covering the operating costs of the Mesquite Mine.
The final statement in his letter is that they are seeking to gain an upward re-rating of the share price to reflect the transition from developer to explorer. The stocks remains cheap.
from the weekend market letter at
www.amprogram.com
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