Great post on H/C ref WCE30 Apr 2026 22:58
Having been decades in the mine finance game - and for what its worth,- here's my thinking.
1. Richest primary silver mine in the world. I don't like the way WCE hedge their bets and always say EH “one of the highest grade resources in Australia” - screw that,
it's now the second highest jorced grade silver resource in the world.
The only one richer is Fresnillos Juacinito mine in Mexico at 700g/t.
However, as we can all see - the average grade through the whole indicated and inferred 2.8 million oz - is 1,300 gt, making it the world's richest primary silver mine.
Moving inferred into indicated just needs some more drill holes closer together
. just wish, like us all, that the resource was much bigger!!
But IMO… that should be coming with more drilling.......
Im no geo -but I've been in mining financing all over the world for decades, and i know silver, and IMO its extremely unlikely that such a rich silver pod is a standalone feature. There has to be a mother load/factory/ and or other pods around and WCE has a huge surrounding tenement area to find them in.
We just don’t want to see WCE diluted to hell as they spend on drilling to find them, so WCE needs an income soon.
Why is this announcement so bullish to me?
The other major bullish features of this announcement are:
:1. Having such high grades makes everything much more commercial.- ie digging/processing/refining and smelting.
2. WCE already have a mine licence, not an exploration licence so they can get to work in a few months of prep.
3. The other massive benefit of this current JORC is its right at the surface and easily accessible, meaning WCE are far nearer to mining and getting income than most other companies with bigger resources.
4. The 2.8 million tons are contained in just 141,000 tons of dirt - this is tiny. And that dirt contains on average 1,300 g/t,..... the richest in the world. From the look of it from the ann, the open pit is 80 x 200 mts and 130 mts deep and can be worked from the surface down by normal diggers - it's so effin simple and cheap to start mining compared to most other operations - and it's right there in safe WA.
The average dump truck to get up and down into the pit would likely be around 25 tons load, so that's only around 5-6000 truckloads to move it all.
That could be done in 6-8 months.
Let's say, for example, they can mine (just dig) 1000 tons per day,(that's 40 truck loads).
That means 141 days - on a six-day week, that's just over 6 months work to clear the pit.
They would then have taken out approx 2.8 (at 90% payability call it) 2.5 million oz of silver.
Current price of silver is around A$ 110 - So they would then have A$275 million of silver.
So let's look at the cost to get the silver out and processed to sell.
1. ERM, their mining consultants who are one of the best in Oz and are usually quite conservative, are estimating (in the announcements )the followingA
$ 4.50 a ton to mine
A$ 45.6 a ton for proc
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