Member Info for Phoebus

LostSoul, the vast majority of companies on AIM have zero revenue and have to raise funds to carry out operations unless they are on free carry. WSBN has recently placed and received cash from warrant exercises. Before GGP farmed out Havieron they had to raise funds to pay for everything. Even now they still have to raise funds to drill any of their other projects. WSBN is where GGP was about 2 years ago and a few months down the line GGP's situation had been totally transformed. No reason to expect the same can't happen for WSBN given their excellent location. Shares tend to move significantly higher in anticipation of potentially transformational step changes in valuation and given the location of WSBN and GUN I expect investor interest in both shares to be very strong indeed.

so hopefully we'll get an idea of drilling plans for Orinduik. Also, third party Namibia drilling is now fairly close so interest should pick up for Namibia based exploration companies going forward.

The only reason Rincon is cheaper than WSBN is because it hasn't started trading yet. WSBN will go a lot higher from where it is and Rincon will soar significantly to catch up as soon as trading starts. Like most UK investors I don't have access to ASX stocks and am therefore limited to WSBN and GUN. GUN's stake is partial and indirect and only part of its portfolio making it a deleveraged play on Rincon. WSBN's interests are all 100% direct. As a result I have taken a decent chunk of both with a heavier weighting towards WSBN. If you have access to ASX stocks then I would go for Rincon and WSBN. Both are excellent plays on the Havieron/Telfer gold story and should do extremely well going forwards. GLA

Or we could get another positive update on this or one of our 4 other Australian gold licences, the two in Queensland and the two closer to Havieron. Plenty of irons in the fire now. The information in the new Rincon admissions document and presentation does look extremely positive for the prospectivity of our other Telfer/Havieron acreage and I expect we will get a positive update soon.

Rock on Tommy!

QBI, if WSBN only manages to reach 1/10 of GGP's peak market cap so far then the SP would be around 80p. Exploration does require cash, but sampling will cost very little and should yield initial eye catching grades. A few drill holes also won't break the bank and if the results are good WSBN should have no problem raising funds at an excellent price. Moreover if initial results are good enough WSBN may attract a farm in and move to free carry as per OMI and GGP. Given what's happened at Havieron and the soaring gold price, I imagine a lot of majors will be watching very closely ready to pounce.

That's a very sensible approach to investing DG. Welcome aboard.

Gold moving higher this afternoon. Close to highest since vaccine smack down.

That's your opinion Sungam. Mine is the exact opposite. If anyone has lost money in UKOG or some other Lenigas connected investment that's their own fault. This is an excellent looking gold venture in an extremely sort after location and Lenigas is a consummate promoter. If this pans out anything like the other finds in the area the doubters will hail him a genius, but it's the drill bit that will do the talking. I expect we might get a bit of surface sampling first and maybe some trenching to zero in on preferred drill sites and then we hit drilling. Sampling should get up and running PDQ and costs next to nothing, so we could be getting some grades through soon. THR has rocketed several times on fairly underwhelming surface grades, so the market will rocket this if we find anything similar to the fantastic grades at Hasties which is very close to our main licence.

Yep. Crazy shallow.

Chimers, seems your question may have just been answered by the man himself over on ADVFN's WSBN chat board. Post from someone called Lenigas states, 'I can tell you all categorically that I am NOT a seller at these low prices. So stop the rubbish talk. And I don't think the other chaps are inclined to either. They know the real potential of Telfer / Havieron play.'

He goes on to say, 'I think Poulden is in the mood to fast track everything.'

https://uk.advfn.com/stock-market/london/wsbn/share-chat

No harm in that Trek although I'm staying put and 100% foccussed on the rabid investor demand that will hit when drilling gets underway. The prospect of Havieron 2.0 will be like a super massive black hole sucking in all available investors cash from the four corners of the universe. If it hits we will be mega rich. Definitely not getting fancy. ATB

https://twitter.com/DavidLenigas/status/1326871559643009025
https://twitter.com/DavidLenigas/status/1326878465329664002
https://twitter.com/DavidLenigas/status/1326881764283998213

Look at some of the excellent intercepts at Hasties which is not far from our licences.

57.80m @ 2.05g/t Au from 17.40m
16.10m @ 4.75g/t Au from 42.70m
68.00m @ 1.33g/t Au from 1.00m
36.00m @ 1.66g/t Au from 2.00m
33.20m @ 1.46g/t Au from 25.00m
23.00m @ 2.06g/t Au from 23.00m
5.00m @ 3.73g/t Au from 50.00m

We really are in an excellent location. Anything like this and the SP will do very well indeed.

Chimers, those shares are being paid to the vendors, a Mr. Peter Romeo Gianni and a Mr. David Anthony Lenigas. Doubt he's in this for a quick flip. Looks more like founder shares to me and expect he's here for the ride. Find some great assets, find a suitably clean stock market vehicle, inject the assets, get shares at a nice low break even, exploration unfolds, shout it from the rooftops, shares rocket, make lots of money. Perfectly crafted vehicle for riding the gold mega bull.

Trek, I get the impression this Aussie gold mining play in his old stomping ground is a bit closer to his heart that the other stuff. He's probably waited a long time for it and now the moment is finally here. Dog with a bone.

Will be very interested to see if we get an update on the prospectivity of our other two Patterson licences which are even closer to Havieron and appear to be on strike with Telfer. Some of the ground in the vicinity has excellent intercepts. This is turning into a dream gold exploration play.

Can't buy more than 5K shares. :(

Excellent. '... we have now commenced discussions with our exploration teams in Western Australia on the next steps in the Paterson Ranges to fast-track our assessment of the four main magnetic targets covering an area of some 2,400m x 400m, which when compared to the ~500m x ~300m Havieron footprint, is a significant potential target zone ...'

Do we have to inject it directly into the wellbore?