Member Info for Skippysb01

23 April 2021
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Wishbone Announces filing for Drilling Programme at Red Setter

Patersons Range, Western Australia

Highlights:
· Wishbone has filed its drilling programme for the targets identified on its Red Setter Project in the Pilbara region of Western Australia.
· Red Setter is located 13 km south-west of Newcrest Mining's Telfer Gold-Copper project with all its associated access and infrastructure
· The Programme of Works filed with the Western Australian Government for up to 100 drill holes to depths of 300 metres over a 4 year period.
· Designed to test for potential gold and copper mineralisation on multiple magnetic targets identified over a 3km x 1km area.
· Depth of cover to targets is estimated to be less than 100m.

100 drill holes

Important I think to note they plan 100 drills at Red Setter. We are at 2.

Presumably they think the results are encouraging because these are the results from initial drilling which lead to more focussed investigation? Looks like the prospects are higher now than they were before this RNS?

I don't like getting a placing RNS and then this RNS on the same day. I don't think the market does either.

Nobody believes that the core samples will have been tested and results provided to the company by now. Earliest will be late September. Also they only have 2 core samples that we know of to test. There is loads of bagging and tagging to go before we get a confirmed idea of what's in the ground.

I do think it's true that the SP will rise on anticipation of those results but the anticipation is a few weeks away for now.

I agree. You don't raise funds to expand exploration mod exploration unless you have a strong reason to believe the exploration is showing great promise.

These companies are on AIM because it allows them to raise funds in this way - if they don't raise the funds they may not reach potential.

Always expect an AIM firm to raise funds in this way.

I also know people in 'health' and they overwhelmingly suggest that vaccines have massively reduced deaths related to COVID and that there is absolutely no evidence anecdotally or otherwise that the vaccines have resulted in increases in other morbidities. Go figure!

The SNG drug is so well tolerated it is relatively easy to justify including it in a study like this. Nobody is going to get hurt and it might show some value.

IMHO SNG needs a serious Covid outbreak this winter for it to gain momentum for serious platform trials. Today's RNS provides some support IMO - it hasn't gone away and serious people still believe in it. Activ 2 results next - if they show efficacy then it's another reason to believe it can find a decent sized platform trial.

Probably a better buy opportunity today than it was before the RNS but still hoops to get through if they are going to get it nearer to market - only a successful platform trial will do that. If Activ 2 results just talk about safety profile and not much about efficacy we have a problem.

Kids going back to school now so expect to know what Covid is going to do this winter in about a months time.

Kids go back to school next week....

It's certainly still around. I know anecdotes are not data but I know of some people very sick with it right now.

Could be done any day now. Last RNS said they would recommence the rig audit in mid August and that it was 80% complete. The audit can include noting issues and asking the rig company to resolve them.

Beyond that we can't possibly know. Reading between the lines I think the last update suggested August isn't a very productive month and I read into that - holidays.

So I don’t sound too rampy. Important to note that the chances of discovery are probably well below 50%. Even if there is helium it might not be enough and/or it might not be possible to commercialise it for many reasons. It’s a gamble whether we like it or not right up to the moment they know.

Mid teens is enough at this stage. I don’t disagree that there is an element of once bitten about this but the market if fickle. The prospect of a ‘discovery soon’ once the drill is turning will bring in investors.

I agree that anyone invested should be cautious and aware of the risk. However there are no guarantees after the RNS either - unless its a discovery RNS which is of course not possible until we have drilling.

Personally I have gambled an amount I can afford to lose on there being a drill - hopefully this year or worse case next year because I think the SP will be a lot higher after a drill programme is announced than it is today and that the SP will get higher again in anticipation of drilling results (as it did last year). I will either lose all of my investment or take profit at these stages whilst leaving some invested in case of a discovery.

Don't forget that it could transpire that there is no helium that can be commercialised! I'm happy with the risk / reward of this for now.

Layla1 - You make some good points but ultimately I can chose most of what I want to sign up and aspire to even if in hindsight a lot of those decisions feel less than great. Education for example in the UK is one of those (I have young kids) where I despair at the current direction of travel) however we can vote to have some influence on all of it.

If I slate the government on the streets of Russia I can expect to get arrested and beaten up. No thanks.

A lot of anecdotal nonsense flagged in responses here about the Russian economy. It's bad - very bad. Come back in a year and tell me how it's going.

Remember that whilst we can blame (rightly) a lot of the pain we are seeing from the energy/cost of living crisis on our government much of the pain is being directly caused by Putin using energy as a weapon - he has been preparing the ground for this for a long time - some saw it coming.

Andre01 - you are gaslighting if you want to make out you didnt bring Russia into this. 'Russia has boomed in the meantime' you wrote it and you own it.

It's all well and good pointing at the limitations of our western democracy. Making a direct comparison to Russia like that loses all credibility. Russia is basically a mafia state and you are referring to far less that a 1% of Russians who see any benefit from that system. Standard of living, access to services and freedom of speech just to note a few of the massive benefits compared to the average Russian. Russia is not just the middle classes in St Petersburg.

Whatever it is it's just admin of some sort. Hasn't shown on the chart or impacted the SP.

I guess if we get an RNS confirming a 2022 drill plan with all ducks in a row we will get a decent raise here. Hence today looking good. Next week feels like a fair bet on getting another RNS.

Nobody in the real world listens to the de rampers.

This is a very tradeable stock. Potential for fast upside especially if your ambition is 10=20% profit. A lot of traders will have bought on recent lows and sold last week/this week.

Also - it is not clear when news is coming. We don't know when assay results will arrive but we do know they won't be in the next few weeks. If they sent the first core to analysis by now it logically means at least a month surely? WSBN have not been specific about when they are sending them.

So it's safe to sell today because it's very likely that it will be possible to get in at a good price again in the coming weeks.

If we get an RNS that fixes an expected outcome - e.g. 'we anticipate getting assay results by 'date'' then we get a rise in anticipation of that. Right now the anticipation is - might get another 'visible mineralisation' RNS and/or might assay results in late September or later.

When the market senses assay results are due this will likely go up over 17 again.

Happyhaddock. Agreed - it makes no sense to RNS that they have sent core samples to a lab after they have RNS'd that they would do this 'in the coming weeks'. That would be market manipulation. You can't keep announcing news on the same story. as a way of blatantly building tension.

So the first core could have gone already or may not have and we can't be sure when the results will be available. No wonder there is a lot of trading on this stock. I think it suits WSNB better to RNS the individual core assay results as they get them - if they are very confident they have gold ......

Do they need to / will they ENS sending for assay results? Serious question.

Both the recent visual core sample RNS state they will be sent in the coming weeks.