WGX has strengthened its Balance Sheet via an increase of its existing A$100m Syndicated Facility Agreement (SFA) to A$300m. The upsized facility is on the same terms at the existing facility and importantly does not require mandatory gold hedging. The funds will be used to execute the growth strategy which should enable WGX to ramp-up to our 500kozpa forecast for FY26 onward. We note there remains material upside at Fletcher zone, with the accelerated drilling programme a key catalyst as WGX has provided an exploration target of 23-27Mt @ 2.1-2.5g/t Au for 1.6-2.1Moz. We are reiterating our BUY rating on WGX and maintain our ASX and TSX price targets of A$4.50 and C$4.20.
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