Your thinking is wrong, parkboy. You're going to get people selling without much regard to the offer price - they cannot cope with waiting and don't understand what the news means. Sooner or later the dust will settle and the serious investors will arrive.
Don't worry Chris, there are many knowledgeable investors here who can help you understand exploration companies. I know it's a bit complicated at first, but if you want to know how it all works, just ask.
Because there is much more potential gain for the previous owners of the land packages by owning over 11 million shares and over 5 million warrants in WSBN. What could Newcrest possibly offer for unexplored land that the owners would be interested in? The majors don't just throw cash around on a purely speculative basis. WSBN may yet look for a joint venture to speed up exploration, should they discover something interesting.
Yayay, you have to wait. There will be sustained rises if we continue to get good progress. I was in GGP for 4 years because I was confident the CEO was doing the right things. I think Bill also knows what he is doing.
Steveiom, drilling at Han was still ongoing on the 11th March. So you can assume drill cores were sent to the lab somewhere around the end of March. So that's only 5 weeks at the lab. There is no delay. You need to think about what you are saying before posting this nonsense.
The drill plan is already done, Muppet. What did Richard say in his last interview? He said more exploration first - that's what Terra Search have been doing. Why are you buying shares when you have no clue what's happening? Of course they need the permit before drilling.
As soon as the permit is received WSBN will only be doing a couple of initial holes, then wait for results. If the results are good then the next stage will be planned. The permit will allow up to 30,000m over 4 years, This type of permit in WA are normally issued quite quickly.
petej247, UFO is an exploration company and any revenue is a bonus. Exploration companies do not have to generate cash to increase value - they generally consume cash. The value comes from proven assets. We have to be patient and consider what Hammersley and the Donoval 2 JV would be worth with good results, then later increasing value from EH, San Celso and Los Campos silver.
Wolfy81, If you attended the webinar then you should have picked up that EH could be higher grade than we think and that only drilling the existing core would verify that. During historic mining there was no clear information about the extracted ore, and the tailings smaples could give further clues.
Mexico - My understanding is that San Celso and Los Campos require a separate permit for actual drilling, and the 50 year thing is just rights to the tenement and allowing activities that don't disturb the environment.
Wolfy81, why are you even buying shares here if that's your view. It's clear you have no understanding of the assets in play here. The Elizabeth Hill mine has over 3 moz silver remaining that we know of, and 20 new targets nearby. Of course EH is small in terms of silver mines, but if you add that to any tailings to get an initial boost, it's a good start and represents income for the company and lots of exploration upside potential. On a much larger scale, look at San Celso and Los Campos (+ Andromeda extension) silver. Then you have the Donovan 2 JV, which if results are good will be a game changer for UFO. All that on top of the Hammersley iron ore. I think you would be better off investing in #Bitcoin.