Member Info for Cebo-456

We are a month into the second drill. It is possible that we reach TD this week.

The first 150m would have been drilled very quickly using a mud drill bit. We also know that at the start of the hole the were looking at possibly working double shifts - maybe 50m + per day.

So provided there was no fishing trips or other delays, we could be further down the road than we think.

It may well only be drilled to 800m similar to the first one depending on what geology they have encountered.

Camper- I would guess they would be about 700m + even on single shifts.

Quite possibly reach TD if its the same as the First hole by Monday.

They may be gearing up for one big RNS - Assay results from Hole 1, Geology Model backed up by what they have seen at hole 2 and where? Why and when they plan to drill another 3 or 4 holes on Red Setter.

In my mind, they probably need about 5 or 6 holes on total to fully understand the geological model and size of the discovery - at which stage the JORC would have moved to Indicated Resourses & Probable/Proved Ore reserves.

Worth about 5-7 % of non discounted in-situ value of the metal.

Meaning a 10m oz Au discovery with Cu would be worth about $2b +

Obviously long way to go before that happens, and 10m oz would be a decent Teir 1 discovery (about the same size a Haveiron, and half thr size of what Telfor turned out to contain) but we are fully funded for at least another 4 or 5 drills and still hold 100% of Red Setter.

JC, totally agree and think both companies have huge potential and both could be £billion MC compnies in a few years time with the right discoveries and a bit of luck

If you compare the RNS this morning against the RNS that WSBN put out (18th Aug) after they finished drilling their first hole on Red-Setter then theee is a big difference - you can come to your own conclusions. Both are now awaiting Assay results but comparing the way they are written, and info given, would suggest that GEO haven't quite smashed this on the first drill. - still waiting to see if WSBN have.

Watching how long it takes WSBN to get the Assays back will give us an idea when news is due here - I am guessing mid to end October before we find out here.

I have interest in both, so 🤞🤞🤞🤞🤞

GGP had similar- they found traces of Gold in the first 4 holes which wouldn't have been comercial on ion there own - but hit the motherload on Hole 5 (HAD005).

Geo will be hoping for similar or better with the next three holes.

It sounds like WSBN hit on the first hole and moved on ti hole 2, but that has still TBC with Assay results expected soon.

GGP are now a multi billion $ company on the back of Hole 5, GEO and WSBN both have the same potential.

Each hole will build a picture - and by studying the cores they should have a better idea of where to drill next. If hitting Au-CU mineralisation was as easy as just drilling a hole in the ground then we would all be gold miners.

The MC is still only 16m. If hole 2 is succsessful then it could be multiples of that.

Looks like about 1500m of Empty Core Trays in yhe background. Could be for next couple of drill- could be the empty ones returned from Perth or for some other reason.

For months Manifesto was advising posters to buy PR1 when they were 8p, he was they would rise to 12p (they are now at 2.7p).

He has said that he may jump in here once the RNS is released - I suspect still hoping that PR1 will give him some of his money back which is not going to happen.

So anyone listing to manifesto needs to give their head a shake or check his posting history - he is a serial loser in more ways than one.

The Investor Chronicle article will put WSBN on the watch list of 10's of thousands of new investors (real investors that will research the Company properly for longer term holds - not some of the chancers that are just after a quick trade, but ussually mis the bigger prize).

This could really surpass GGP's rise and eventually be a $billion plus company - the key difference to when GGP hit the ground running is the Price of Gold today - which means that suitors have more money as they are making twice the profit on gold compared with a year ago.

Also GGP took an early JV which worked for them. WSBN dont need to go down this route yet- they still own 100% of Red Setter and they are funded for at least 4 or 5 drills after the one ongoing and the deepening of hole 1.

So when they do monetise Red Setter, the extra holes will have moved the JORC from inferred to Indicated Resources, proved up the geological model and quantities of in-situ metals and command a higher price from any suitor.

Difference is that GGP are already producing as they own the Telfer which alone is probably worth aabouy $500m.

But if Redsetter was around the same size as Haveiron or contained 10m oz of gold - it would still be worth a couole of quid-

So using an in-situ10m oz Au figure, then you would expect around 390k of Copper if benchmarking against Havieron.

The On-situ, non discounted value of those metals would be around $40billion, Maybe a bit more.

Based on 2024-2025 M&A figures - the industry would obviously only pay a fraction of the in-situ value of the metal - (usually between 2-7%) 2% for early stage to 7% for advanced pre-production. (Those figures are probaably a bit low due to the increase in Gold prices but we will use them anyway).

So on a 10m oz Au discovery

💰 2% of non discounted in-situ value = $800m (£590m)

💰 5% = $2 billion (£1.48b ish).

✨️✨️✨️✨️✨️So conservatively between 20p - 50p a share based on the above.

But a 10m oz discovery is jumping the gun, even half that size and it would be world class and a total gamechager for WSBN (and probaly GGP if Telfer was involved). No matter the size, there is still probably a couple more drills needed to get to even the 2%.

We first need to get the Assay results to officially see what we initially have, then compare them with the 2 ongoing drills - then probably another 3 or 4 drills to confirm the full discovery.

The good news is that we have the funds for another 3 or 4 drills at least after the ongoing ones - and Red Setter is still 100% Wishbone owned - so potentially rove up more and get 5%+

Manifesto,

You really are clueless - perhaps that's why you lost most of your holding on PR1 whilst trying to encourage others to buy in as well from 8p down to 2.8p. Thankfully most people (apart from yourslf) realised that only a fool would go long on that share. - Your posting history alone should warn others just how clueless you are.

Back to WSBN - one option would be to use the GGP owned Telfer Facility to process the Gold and Copper and it would be mutually beneficial to involve GGP fornumerous reasons.

But depending on size of the discovery/discoveries on Red Setter then it is very feasible that one of the Major Gold companies in Australia decides they want to take out Red Setter and build their own processing facility. Possibly even take out GGP as well and consolidate the whole area (Nothern Star or a few others would fit the bill here). Remember also that WSBN now have applications for another 14 licences/tenements, 13 that are located literally surrounding the Telfer Mine.

So there are quite a few possible options to monetise Redsetter , involving GGP is only one of them.

Could also be 2.2 before news.

Also early days but with the Price of Gold, even early stage discoveries are attracting 3- 5% Metal-in-situ value.

3 - 5% of a discovery the size of Havieron is still between 1.2 to 2 billion dollars.

Of course we still need to confirm the size of the duscovery - and would still need to drill a few more holes (which we are funded for) to prove this up and get full value.

But, and its still a big but, if they have a discovery even only half the size of Haveiron - it could, should, would still prove a 20 bagger from here.

Guys - maybe stop spouting meaningless number (1.6 with News, 5p, 10p, 20p bla,bla,bla) or at least back it up with something - because making money will only happen if you can read and understand the "News" and what the Assay results from hole 1 means. Also if they are backed up by preliminary results (visuals, first-pass spectrometry etc) from the step out hole.

Key will be what the RNS says regarding Gold grade and Width, Copper and other metals, Continuity and Scale, Depth to the top of mineralisation, Metallurgy/recovery - are the grades ok, good, great - how do they reflect on recovery costs and asset value Does the second hold back and confirm the true width estimates and interpreted geology etc etc.

If you can't understand this then you may get your 29-50% rise on news and miss out on the multi bag potential - or miss the top of the 100-200% rise if it overshoots on mediocre results and drops back when you should have sold.

we should find out very soon when the Assay results come through, drilling update, new drill campaign details, licence application and licence granted update and any other news from the Aussie Visit.

The Company are well funded and can afford to probably also find another 4 or 5 drills after the ongoing ones.

I think that they will likely continue to drill a few more holes - prove the size of the discovery and then JV or sell Red Setter .. ....

CBony . Good luck, Jean-Paul hasn't answered his emails for about 5 years 🤣🤣🤣🤣🤣

One thing guaranteed today. There will be the posters, pretending to be invested with questions and statemnent urging caution or trying to cast doubt. Aiming to keep the SP down or get cheaper buy-ins when they have funds.

Manifesto who pathetically ramped Pri and lost most of his holding wasone of those creatures, who played this game. You will spot the more subtle ones over the next day or so. They will cast doubt on the BoD, they will hint of equity raises despite us being fully funded with enough to even pay for about another 5 drills after the current two. They will say the BoD lied to get the placing away which is nonsense, they will question the drill sequence and depth pretending they know which drill sequence they should follow, are where they should be drilled, depth etc.

Ignore the noise, do your own research and Ignore those lowlife -- their posting history usually shows their true colours.

Drill baby drill

H2Simon - that's because this is a WSBN board, not a RR board 🥴🫣🤣🤣🤣🤣

2p + this afternoon if no intraday RNS. Then Monday, we should get a drilling update, possibly Assays, possibly news on the rest of the drilling campaign on Red Setter, news on the new Licence applications (that we know have been submitted) and updates on the 13 other ones.

Maybe, just maybe news on XX Txxxs !!!!!!!!

2p would be nice tomorrow before we get the news we are expecting - better to launch from 2p than 1.5.

GLG, should be ok on WSBN - word has it hole 2 has come up with the goods as well - currently about 500m Fair bit of news imminent tomorrow or early next week yhat coukd be a game changer. EuA is a tough one until they sort out Ukraine at the minute - maybe I will look again next year.