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BeardedDragon posted,

Never Felt So Bored 13 Feb 2026 08:03

"If another week goes by without assay results then I will be selling my holding and buying shares in a mining company with more transparency."

There will be no assay results tomorrow. I suggest you get your sell order in pronto and dodge that hugely discounted placing that is coming.

Cheerio.

This year the shareprice has traded between 41p and 122p without casper. That is volatility, not a pump and dump. The market is struggling with valuation because there is only sentiment of the cores to underpin it. We all know markets hate uncertainty. This is primed to explode on the whiff of gold in the assays of the main dome.

Look at the drift of the 5 month chart of WSBN, then look at the chart of MAST and MET1, now that's what I call a pump and dump.

I unintentional excluded the cash balance of £825,981 at end of 30 June 2025, I based my workings on the £5.5m raised this half gone, and the cost of a full years admin expense (that included directors pay) and drilling cost, and given where we are in the year it will be pretty accurate.

So it is more in the region of >£3,255,981 in cash. So this is a substantial amount that would cover a drill campaign of 20000m for example, double the last campaign of 10000m. More capital will be needed for road grading and general working capital. Raising the £4m at 1.2p in 2025 was an absolute blinder.

Given that the company was raising capital at 0.1p in 2024, then was raising capital at 1.3p and 1.2p in 2025 is an unbelievable turnaround.

Now the question of when the next raise will be is a fascinating question. Poulden could raise a proportion right now but he would not be able to tell brokers or investors what these assays are. It is likely that Poulden does not know himself as the data will only be held by ALS labs in a closed and confidential basis.If he splits the raise around news he is mitigate risk and avoiding the gamble of guessing where the shareprice is going to be. I personally think it is unlikely he will raise before assays. Visually the cores look bullish and raising at a much higher shareprice is in the companies and shareholders interests, but that is just my opinion.

That is why Poulden is chairman to make these big decisions.

The question for GGP shareholders is what is GGP bod going to do with the cash being generated. Share buyback? Divi? Asset purchase to bank surrounding deposits for the future growth? Enter J/V's though I think it is in WSBN's interest to keep 100% and develop the asset, invest in more lines to increase production (unlikely as they are running with a surplus and need more ore).

Great question MH01.

You can check the last few years of financial reports and the admin side of the business, salaries, lawyers, tenement fees ect comes to:

~£1.57m

The £1.5m capital raise was expressly for the 2025 drilling campaign. Lets assume this was the quote they got from Core Drilling services though I estimated that the cost would most likely fall between £750,000 and £1m. But for arguments sake let's say all of it was used.

That leaves us with a balance of at least £2,430,000 in the bank, with highly anticipated assay results pending in weeks the company is in a very healthy position in my opinion.

MH01, being collated at ALS labs. The last drill was DD core not RC samples, which I believe are processed quicker. Given ALS would be shut over Christmas and New year, it could be the middle of March before we get the results.

Last DD hole was completed only 8 weeks ago.

Yep, goal posts were moved from dripping out assays to dropping a more comprehensive RNS with a complete picture of what we have. The language changed from weeks to months.

Ed Mead is in charge of asset development, drilling ect, Poulden is in charge of corporate strategy, he feared a spike and dump on dripping out the best holes first and then everyone running off to the next rainbow.

Look at ufo, everyone was banging the drum on world class assays and the market promptly spat it out. The assays may look mediocre but the market could go vertical because of scale, volume, mineralisation indicated in the system or whatever.

You've been hearing it for months because it was a 6 month drilling campaign!

Ed Mead is in charge not Lenigas. Lenigas is a mine engineer. Ed Mead is the Geologist and competent person for submitting MRE'S.

I'm expecting big moves in the run up to March, prior to the assay RNS, the question is when will they collectively make their move.

The last hole to be completed was a diamond drill hole to a depth of 300m only completed about 8 weeks ago.

Since I give my timeline of 12 weeks assay time, hence my early March assay delivery timeline for ourselves. It was encouraging that the company has had Apex carry out modelling from the geology and lithology they have discovered so far, and next years drilling plans will be pretty much dialled in with what they have seen in the cores and MT surveys.

So yeah, no excuses for being impatient.

Agree 99, the volatility is wild. To think some have bagged from 40p to 80p on no news as well!

Copper and Gold is proven in this system. The 4 Domes have the scale to return a multi million oz deposit. Most other explorers fail on scale not in failing to find gold.

18m @ 0.49g/t Au and 0.004% Cu from 308m in WRSDD0015Including 5m at 1.2g/t Au and 0.002% Cu from 319m

· 1m @ 3.73 g/t Au and 0.1% Cu from 191m in WRSDD0015

· 14m at 1.0g/t Au and 0.2% Cu from 266m in WRSDD0008Including 7m at 2g/t Au and 0.38% Cu from 273mAnd 1m at 6.4g/t Au and 0.69% Cu from 273m

· 25m at 0.28g/t Au and 0.11% Cu from 195m in WRSDD0006 Including 1m at 5.4g/t Au and 0.26% Cu from 198m

· 3m at 0.18g/t Au and 0.82% Cu from 166m in WRSDD0006 Including 1m at 0.27 g/t Au and 2.27% Cu from 166m

· 1m at 6.48g/t Au and 15 ppm Cu from 246m in WRSDD0009

· 10m at 0.48g/t Au and 0.03% Cu from 117m in WRSDD0011Including 1m at 3.2g/t Au and 0.06% Cu from 122m

Most explorers don't have a proven copper and gold system, 4 massive domal features with breccia and....vugs.

Does anyone actually read what Ed Mead reports back to us with?

Only 2 weeks left of Feb, giro. I'm expecting news March. A bit of brinkmanship starting as capital returns for the fireworks?

The impatient types who put their cash elsewhere to work harder are coming back for the finale?

It was always on the cards. I'm expecting big rises in the run up.

Stability. The market always wins.

RNS in March.

No news is good news and good things come to those that wait.

25RSDD002 was stepped out by 200m to the south west into the western hinge of what I'm calling the Main Dome to a depth of 950m, I believe it cut through and exited the hinge into the country rock. 25RSDD001 which ended at 777m still in brecciasation, this was angled down the middle and will most likely be uninspiring.

The outer edges of these domes where they curve the most are referred to as the hinge. Imagine your traditional homemade ice lolly, at the outer edge where it curves towards the top, that is the hinge. That is where gold falls out of suspension in the low pressure area. Check out the isometric schematics of WDU, GGP.

If 25RSDD002 is mineralised and it is with lots of pyrite (look at the pictures in the 25th Sept RNS) then this is where the focus of the 2026 drilling campaign will be and it will be more a less a formality of proving up. Now check the pictures of HAD005 and things start looking exciting.

So in a nutshell if 25RSDD002 has the gold I think it has then its over and straight to 700p for starters and then onwards as the hinge gets exploited. It then becomes a formality.

IN MY OPINION.

Ps, DL the reason the sp is not 10x is because pics of cores, parcels of land and tweets are not the same as a verifiable gold assays in a hinge that is huuuuge.

RE: Assay reults could be imminent..20 Jan 2026 19:13

With the pog at all time highs, if these domes are mineralised like Telfer, this goes vertical..crikey, the stakes have never been higher. Dumping everything onto the market will have the biggest impact if these domes have gold in them.

Yes he reads these boards. 😎

In a nutshell Poulden couldn't raise the capital required for the scale of project of Sirius Minerals . Investor confidence did not have the pockets nor patience for the mine development which was massive, in Yorkshire and complicated. Anglo-American took over and Poulden stepped aside prior to the takeover and delisting. I remember it at the time and didn't invest.

We all know the challenge some have with patience!

I think this suits Poulden much better. Less capital is required and just a dollop of lady luck required, like today. Also the development of Mobile MT is an absolute game changer in the last ~5 years.

If the Main dome is mineralised with gold grades, we are off to the races and raising capital will be water of a ducks back...and I won't be selling my shares as this is a buyout play not an invest to mine like Sirius Minerals was.