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Just going to keep it simple. The current market cap of GGP is £789 million. The current market cap of WSBN is £20 million. Divide GGP market cap by WSBN market cap and the answer is about 39. Therefore, if exploration is successful it's reasonable for the WSBN market cap to equal GGP's. Say, WSBN share price is 12p that leads to £4.68 per share. Only a quarter of that more than £1. That'll do, as they say in Yorkshire.
Think 6 times, then think another 20% margin due to its depth. Then think of the other two plots have there.. then think white mountain with great surface finds, then think wishbone 2,3 and four plots then think recent acquisition with incredible silver grades. Finally throw in a profitable gold dealing businesss. If everything proves successful SP will hit over £50.
MrTurpin. Holy smoke. Also i deliberately used the GGP market cap as it is now and not what it was around Christmas (something like twice as much). It's mind boggling stuff, isn't it. Just a fraction of those figures would be a marvellous outcome.
Hi JTB, You're forgetting that Redsetter could potentially be six times the size of havieron, If and i say IF it's proved up to that extent then the MC here could be way higher than your prediction!! I have everything crossed it pans out that way(excuse the pun)
PPS. If you're scanning Australian minnows you might be interested to have a look at COBR. A well-respected and experienced board with 2 prospects - one requiring exploration and another target requiring just a handful of drills to JORC it. Market cap of £7 million and around 300 million shares. Try dividing that into GGP's market cap (£789 million) to get an idea of how many times the share price could multiply. It's the same with WSBN - £20 million - of course. The maths is staggering: you're looking at a potential 112 times for COBR and 39 times for WSBN - in other words a potentential share for WSBN of £4.68 from 12p.
Look at the licence that surrounds Haverion which Artemis aquired, why didn't Newcrest buy that?
Why didn't they purchase the licence that Antipa aquired?
Why didn't they aquire the Kairos licence?
Why didn't they aqure the The Warrawoona Gold Project?
More to the point.....
Why didn't they aquire the Havieron license when it was offered for just a mere $25,000???
Think about it?
We could list dozens of licences that they could have purchased, but didn't, but there are many licences we could name where they have subsequently gone on to agree a JV with the licence holder.
Its so easy to looks back with hindsight once a large gold anomaly has been identified and think, wow, this looks obvious. But it wasn't obvious.
Haverion was considered a no go historically as the initial 100m drills were dusters, it wasn't until GGP drilled down past 400m that they hit the jackpot and all of a sudden the geological understanding of the Patersons started to change
Similar situation at Red Setter where the 3 historic shallow drills saw 2 drill holes missing just either side of the recently surveyed ore body and the 3rd historic drill missed entirely.
You can see this explained in full on tbe 3D Geo map here:
It's only in the last few months that the recent detailed Terra Search Geo survey has identified The monster Target.
Results of this modelling shows several north plunging magnetic bodies within this anomaly of equivalent susceptibility (possibly pyrrhotite alteration) to that evident at both Newcrest Mining and Greatland Gold’s Havieron and RioTinto’s Winu discoveries.
PS. If you don't know EEE the investing case is different. The target here is a larger 'Havieron' at a more shallow depth. It could be absolutely massive. EEE needed to reposition themselves and get something up and running quickly so they went for a much smaller project - basically extending an old mine. Red Setter and Eclipse are different ballgames.
The story is that the owner offered the ground to Empire (EEE) and WSBN. EEE had first dibs and are now working the Eclipse prospect. WSBN took the rest. This is told in an interview with Doc Holiday and Sarah Lowther on Total Market Solutions.
Like British Mike asked, it would seem logical for Newcrest to sweep up the local licenses. It sounds silly but the reason they don't is that it's not done. The done thing is for a producing major to wait for an explorer to make a little progress and then come in with a JV. They see it as a more economic way of working.
Newcrest have a track record of moving quickly if they see something they like (SOLG, GGP) so it's extremely likely they're keeping a close eye on Red Setter and it wouldn't be a surprise for a JV to come 'out of the blue' even before the first drill.
Because there is much more potential gain for the previous owners of the land packages by owning over 11 million shares and over 5 million warrants in WSBN. What could Newcrest possibly offer for unexplored land that the owners would be interested in? The majors don't just throw cash around on a purely speculative basis. WSBN may yet look for a joint venture to speed up exploration, should they discover something interesting.
How come exploration licence EL45/5297 purchase (and the two smaller blocks) were offered by the previous private company to WSBN?
I know it sounds obvious - WSBN asked to purchase it.
This is prime prospecting ground and clearly WSBN have scanned viable targets... red setter being larger than Havieron. Surely a major like Newcrest would've putchased any remaing privately owned pocks of land in the 'Havieron' surrounding area with spare change in their pockets? Why sell the high-demand ground WSBN acquired to WSBN?
Just curious and already have a share holding here.