Coarse grade mineralisation evident at Western Flanks could boost grade for periods of the production profile driving upside to the current base case. There is also potential for similar mineralization in the Fletcher zone, with the accelerated drilling programme a key catalyst. The company has yet to provide FY25 production, AISC and capex guidance post the completion of the merger with Karora Resources, and we see this as a key near-term catalyst for the stock. We see significant scope for similar upgrades at the newly acquired Beta Hunt mine, with recent exploration success already demonstrating some of the potential to expand resources and reserves. We are reiterating our BUY rating on WGX maintain our ASX and TSX price targets of A$4.00 and C$3.60.
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