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I've said this before but worth repeating.
Our closer proximity to Telfer and shallower depth mean much reduced mining cost and hence more profitable per oz than GGP. It also means any resource could be brought online much more quickly and with lower capex especially in open pit.
These factors weight heavily in favour of WSBN. Think the implications thru and they hit at every level.
WSBN remains on sale until the website is updated. I remember my first look at MCap 1.1M but rejected it due to:-
First thing you see is 'GOLD TRADING' ffs. Then projects WSBN ii, III and IV. wtf happened to wsbn I was my thought hahah. It will still put many off who don't know whats really going on.
I expect they are completely revamping their website. That alone would send this north of 20p
Seen this many times on AIM. You research a share and it looks great but no one else is interested so you hold off, doubting yourself. Then next its up 50% and rising fast. I was looking at Agronomics at the start of the year at 8p. Same story. Its now 28p
Just hold and the crowd will catch up.
of 200k shares. Sitting on a 13% loss still but relax now and enjoy the ride.
Central bank buying also.
Surg, don't beat youself up over selling ggp early. Few will have seen the full ride. Agreed, that's the beauty here - w've a better idea of the target MCAP.
End of the month. Cash available. Another 10k shares coming my way this morning :)
The two are not comparable. WSBN is for the moment a play on that first Red Setter drill hole. If that give a good result we should see a significant rise and the potential for good RNS driven news going forward for years. There is also the Licenses for Gold and perhaps silver.
Basically this a one of those rare chances of a life-changing investment. Tho nothing is guaranteed, you would not get the stock at these prices if it were.
Take a look. Mostly buys around 11.5p. Only the last trade of the day was a 10.5p sell at a tiny 840GBP. I'll be adding as cash becomes available.
Must admit I was only expecting a small number of test drill holes. This is a different progam entirely. As for the 4 year timeframe. They may well have had to plan for a small number of rigs, one even. But with the results of a few holes giving good results the a JV would accelerate that. We could well be looking at 18 months for the full program in that case.
Wish I could bag more at this price.
and I firmly believe WSBN will be a huge multibagger.
They'll need to get a rig first. And none to be had with all the activity in the region. maybe Newcrest will loan one for that first hole. Anyways, I am happy to wait and hopefully buy more (as cash allows) in the meantime.
H/T to Timber Trader on the GGP board. Region is red hot. Totally inconceivable that Newcrest isn't talking with wishbone.
An “unprecedented” flow of cash into the high-risk mineral exploration sector has sparked a drilling boom that is causing huge backlogs at the laboratories whose assays determine success or failure.
More than $2.2 billion flowed into the 656 pre-revenue explorers on the ASX in the final three months of 2020, in a result that was 72 per cent higher than average and was described by advisory firm BDO as “unprecedented”....
....The laboratory backlog is even more severe in Western Australia, where the state government was last month forced to extend a deadline for Rio Tinto to submit waste rock samples from its Hope Downs 4 iron ore mine because there was no prospect that laboratories in the state would be able to assay the samples before July.....
....Drilling company DDH1 Limited listed on the ASX on Tuesday and has its fleet of 96 rigs booked almost solid for the rest of calendar 2021.
DDH1 founder Murray Pollock said mining companies and explorers were starting to panic-book rigs the way households had hoarded toilet paper in the early stages of the pandemic.
“The demand is enormous, we just cannot keep up,” he said.
“I think there is a bit of panic out there and perhaps some companies are booking up rigs [because] they know they have to get in there, but they might not know exactly what they are going to do with them.
“Once that starts it is a bit like the pre-COVID toilet paper rush.”
DDH1 has drilled holes 2000 metres deep at Newcrest Mining and Greatland Gold’s Havieron project in WA and 2500 metres deep at BHP’s Oak Dam in South Australia.....
https://www.afr.com/companies/mining/the-2b-exploration-boom-quietly-under-way-20210309-p5796h
TS, I assume you refer to my post on the 'wider view' thread.
No risk to Newcrest for a few drill holes. The risk to them is having their Telfer mill under capacity. That's expensive.
No risk to Wishbone either. Newcrest is their only serious option.
I will add that Wishbone is in a completely unique position that I've ever seen for a junior explorer. For most the issue (once a target is found) drilling, funding, permitting, JV dilutions etc. Wishbone has none of those issues. If Redsetter has the grades, its a slam dunk, because all the infrastructure and JV is there. Newcrest will snap it up since its practically under their nose. I do not see any need for wishbone to dilute. And would be very surprised is they weren't negotiating with Newcrest already. Time will tell. But not much time is needed IMO.
YUp. Would not be at all surprised if they hadn't already been in touch. Newcrest will have seen the geo survey for sure. I added again this morning. Maxed out here. If there's a news leak WSBN may need to halt share dealing pending an official announcement. That's my thinking, anyhows. DYOR peoples and good luck
H/T Timbertrader from the GGP board. Newcrest talking about another Havieron within trucking distance of Telfer. I say they already found it :)
Newcrest Mining chief executive Sandeep Biswas has observed increasing market interest in the company’s copper assets, saying the base metal is a commodity of the future as much as gold.
Biswas, speaking at the BMO Global Metals and Mining Conference, credited the company’s business resilience to copper. He said the commodity was key to strengthening the company’s portfolio as the two metals gave a perfect balance to Newcrest as a primary producer of gold.
The company aims to add a reserve of 15 million ounces of gold equivalent in the next five years. It also has plans to expand its greenfield discoveries, starting with the Havieron joint venture (JV) project with Greatland Gold in the Paterson Province of Western Australia.
“Havieron’s piqued our interest more in the Paterson Province. That’s a formation no one has come across,” Biswas said.“It’s like you’re tripping over each other at Paterson at the moment.”
Newcrest’s presence in the Paterson Province is strengthened by its Wilki JV project with Antipa Minerals. Both JV projects will potentially leverage on Newcrest’s Telfer infrastructure. “(Both projects are) within trucking distance of Telfer, so we’ll see whether we can uncover another ‘Havieron’ and get that into the Telfer infrastructure. We’ve got 24 million tonnes of capacity at Telfer,” Biswas said.
https://www.australianmining.com.au/news/newcrest-credits-company-resilience-to-copper/
The MM's definitely do rock and roll the SP on AIM. They make money like that. Nothing to be done. You just need conviction to ride thru it.
As for here, WSBN have Whites Mountain which has evidence of gold at good grades, but most of us here are hoping for a strike on Red Setter, which could be life changing for PI's in at this level.
You can buy silver from Bullionstar. They also have a saving program. I hold around 3k oz silver bought thru them.
Very true. In fact, I won't be entering GGP now. My questions were/are relevant to another share I'm weighing.