Buy - Westgold Resources (WGX)
*** GENERAL AVICE ONLY***
Trade Date: 19/04/2024
Westgold Resources Limited (WGX) is a West Australian gold producer located in the Murchison and Bryah regions of WA. The Company has tenure of more than 1,300 sq.km. and operates four underground mines and three processing plants with an installed processing capacity of approximately four million tonnes per annum.
Recommendation
Buy WGX
Entry price: $2.40
Target Price: $2.80
Stop Loss: $2.15
Rationale:
WGX has been sold off recently due to production issues, this has sent the stock down to $2.05. It has bounced recently and traded as high as $2.30 yesterday. Today with more tensions in the middle east, spot gold has made new highs. So this is an opportunity to buy a fundamentally sound Gold miner well under its recent highs. Looking for it to reclaim those highs over the coming weeks
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.