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> Bump this thread <

For those just looking in and requiring a reference point for peer comparisons for average fair value market cap of exploration company peers operating in the region.

GLA

Hi Tro,

Grabbed a few tranches in WSBN around the lows for a recovery play.

Moving nicely atm.

Everyone gone a bit quiet about the rocket Space X landed backwards onto a boat about 10 years ago :-)

Seem to recall even musk was quoted at that time along the lines of :

" you can tell its real because it looks so fake".

Coming from a guy who has talked at length on how the masses live in a simulation created by media and pumped dogecoin whilst calling crypto

' as big a ponzi as Fiat '

At least he has a sense of humour whilst coining it in.

Off to launch some rockets of my own now. 🚀:-)

Updates due this week.

Buyers getting back in now as huge value disconnect to peers operating in the region.

Will need to move up considerably to even begin to close the valuation gap to fair value.

Previously shouted these at the start of the year. As i stated it felt it would be, its been a slow and steady grind......

Strange market reaction to what I thought was a solid update regarding their settlement from the Italian government.

RKH have managed to arrange an insurance policy for the cost of 4m that will guaranteed that on top of the Eur45m from tanche1, Rock will get after costs, another Eur27 to Eur61million pay-out. Which should be sufficient to cover the costs for RKH to pay for their share of Sea lion costs to first oil.

The insurance company must be confident that RKH will actually get a full pay out from the Italian government or else they will be on the hook for a partial pay out to Rockhopper.

As a poster over there has commented...

"Market reaction is weird given the minimum pay out has gone from zero to Eur 31m."

-

I'm thinking it may just be a case of some very stale bulls over there atm given the time all of this has taken, plus FID isn't in their gift.

The positive is that they will have plenty of cash (almost all the their market cap will be covered by cash once the money comes in) to eventually take Sea lion to first oil.

Not sure what the magic catalyst will be that finally puts the excitement back into this share, but one to keep an eye on.

Horult

Nice trade there picking those up on the dip.

Well shouted.

Listen to GGP's Shaun Day interview today on The Sunday Roast.

Very much sounds like he is up for speaking with all the nearby exploration companies now he has the keys to Telfer.

Fairly sure a Telfer analogue right on his doorstep would have to be on his radar, why let it go to a competitor if he can do a deal to increase Greatland Golds land holdings in the region.

Anyone taken a look at this other 'helium play'.

https://www.lse.co.uk/SharePrice.html?shareprice=MDH.PL&share=Mendell-Helium-Plc

The above Helium company is lister on Aquis and was touted as looking to move across to AIM

Involved with an actual helium producer in USA.

Looks like it could all unravel though from the brief reading I've done.

Presently trading well below break up value of the land holdings alone.

An analogue of Telfer with early stage scout drilling and geotechnical work completed with drill pads in place and holes collared ready for a deeper diamond drilling program should not be trading down here..

Mosquito creek has already thrown up some early promises and the next program of work there is co-funded by the western Australian government

Same situation at cottesloe where the western Australian government has been happy to contribute funds towards drilling and we have started to build a nice data set towards a maiden resource.

Could well be a multi million oz deposit at Red setter and as happened with GGP, the real action started once their drilled down c.800m and hit their first really large intercept

The rest as we know is history

Some top experts have been busy in the data room working on the geo technical studies for Red Setter.

All to play for from here.

Although still low volume atm the 100%+ rise we'vr had here over the past month has held.

Yet another one that's bounced strongly.off it's lows.

At the speculative end of the small cap sector I doubt it's got anything to do with China stimulus and more to do with the fact those small miners that are bouncing have exhausted their sellers and can therefore snapback quickly into an new uptrend..

Seems to be a few across all different commodities that are bouncing off the oversold.

These is a fair few junior miners starting to move off long term downtrends this week.

NT to buy anything atm.

Moving up the leader board now so will start to attract the attention later on today and over the weekend and into Monday ahead of updates due next week

Just the very beginnings of the move back up from a massively oversold position.

GLA

The Paterson Region is attracting significant exploration interest.

With a market value of less than £3m Wishbone Gold attracts the lowest market valuation of a group of Western Australian focused exploration companies (including itself) operating in the region which suggests that exploration success could trigger a meaningful re-rating.

COMPANY........................ MARKET CAP

Greatland Gold ...............632 mil

Capricorn metals ............1.6 billion

Genesis Minerals.............1.76 billion

Musgrave Minerals ..........115 mil

De Grey Mining ................1.357 billion

Calidus Resources ............69 mil

Ora Gold.............................7 mil

Ora Banda mining..............147 mil

AusGold ........................ .... .72 mil

Astral Resources ...... . .. ..... 34 mil

Alto metals ..........................23 mil

Maximus Resources ............7 mil

Black cat ..............................64 mil

Kairos Minerals ....................22 mil

Tarramin Australia.............. .34 mil

Kalamazoo Resources...........13 mil

PEER Average market cap 241 mil

Western Australian peers average market cap of c.250m suggests that WSBN could have a significant re rating of the SP from the present lows

> STRONG BUY FROM THESE LEVELS

Yep, spread really tight now - way less than shown

Looking v good.

Yep, spread really right now - way leas than shown

Looking v good.

The initial scout drilling at Red setter hit mineralisation in every hole.

There has been a massive wait between then and moving onto the next phase which is going to be the deeper diamond dril program.

We now have the benefit of expert geophysics who have highlighted the target areas for the deeper drills.

This will move fast as we've seen before.

Also, worth taking a look at the gold grades revealed at our recently acquired land at mosquito creek which sits in an area of historic gold discoveries.

We are bang in the right post code area and the present market cap makes this (by some way) a highlycompelling opportunity to gain some exposure to Gold, Silver, Copper and base metals in a exceptional jurisdiction whilst also offering the potential to realise some significant gains as the SP has plenty of room to put on some serious weight to reach fair value vs peers operating in the same region.

Time to start position building here on the lows.

A few of us have done nicely out of GBP over the past month.

Expect to see a similar or possibly much larger rise here now.

WSBN is undeniable further dow n the road with initial scout drilling completed and a conceptual model of Red setter completed as an analogue of multi million oz Telfer Gold and Copper mine.

GGP hit an all time low just before going on to 100 x bag.

The RC holes have already been collared ready for diamond drilling.

The potential is off the scale here.