Member Info for TheBasher

Here’s a **probability‑weighted valuation model** for **Wishbone Gold (WSBN) – Red Setter project** using today’s gold price (\~US \$2,420/oz) and our earlier scenario analysis.

---

## 1️⃣ Scenario Summary (from prior models)

| Scenario | Contained Gold (Moz) | In‑Situ Value (US \$ B) | Stage-Adjusted @ 2% (US \$ M) |

| ---------- | -------------------- | ----------------------- | ----------------------------- |

| Best‑case | 30–45 | 72–109 | 1,400–2,200 |

| Base‑case | 4–7 | 9.7–17 | 190–340 |

| Worst‑case | 0.08–0.13 | 0.19–0.31 | 3.8–6.2 |

---

## 2️⃣ Probability Estimates (Conceptual)

Based on geology, early drilling, and exploration risk:

| Scenario | Probability |

| ---------- | ----------- |

| Best‑case | 15 % |

| Base‑case | 40 % |

| Worst‑case | 45 % |

*(These align with typical early‑stage gold exploration probability curves in proven but untested dome structures.)*

---

## 3️⃣ Expected Value Calculation

Take **midpoint** of stage‑adjusted valuation × probability:

1. **Best‑Case EV**: \$1,800 M × 0.15 = \$270 M

2. **Base‑Case EV**: \$265 M × 0.40 = \$106 M

3. **Worst‑Case EV**: \$5 M × 0.45 = \$2 M

**Total Probability‑Weighted EV ≈ \$378 M** (early‑stage implied).

---

## 4️⃣ Strategic Implications

1. **Current WSBN market cap** (approx.): \~\$15–20 M

2. **Implied risked upside**: \~**15–25× current value** if base‑ to best‑case scenarios develop.

3. **Market will re‑rate** sharply only if:

* Deep diamond assays confirm **continuity** in the dome hinge, and

* Indications of **multi‑Moz scale** emerge.

---

### 🔹 Takeaway

* Today, the market prices WSBN as if **Worst‑Case** dominates.

* A single **positive deep drill hit** could rapidly move the valuation toward the **Base‑Case EV** (\~\$100–150 M).

* Full **Best‑Case potential (\~\$1.5–2 B)** is highly speculative and depends on defining **Telfer‑scale bulk tonnage**.

---

Let’s estimate the **in‑situ gold value** for each Red Setter scenario at **current gold prices** (August 2025).

---

### 1️⃣ Key Inputs

* **Gold price (spot)**: ≈ **US \$2,420/oz** (latest 2025 average)

* **Scenarios from earlier resource model**:

| Scenario | Contained Gold (Moz) |

| ---------- | -------------------- |

| Best‑case | 30–45 Moz |

| Base‑case | 4–7 Moz |

| Worst‑case | 0.08–0.13 Moz |

---

### 2️⃣ In‑Situ Metal Value (Gross, Before Costs)

Multiply contained ounces × gold price:

| Scenario | Gold (Moz) | Value @ \$2,420/oz (US \$ B) |

| -------------- | ---------- | ---------------------------- |

| **Best‑case** | 30–45 | **\$72.6 B – \$108.9 B** |

| **Base‑case** | 4–7 | **\$9.7 B – \$16.9 B** |

| **Worst‑case** | 0.08–0.13 | **\$0.19 B – \$0.31 B** |

---

### 3️⃣ Realistic Economic Adjustments

In‑situ value ≠ project value. Key factors:

* **Recovery & dilution**: 70–90% typical for open pit; 60–80% underground.

* **Operating & capital costs**: Telfer‑style deposits are lower‑grade and require bulk mining.

* **NPV discounting & time to production**: 5–10 years for new resource development.

**Rule of thumb**: Early‑stage in‑situ gold often trades at **1–5% of metal value** in juniors before a defined resource.

Applying 2% (typical for exploration‑stage, pre‑resource):

| Scenario | In‑Situ Value (B) | 2% Early‑Stage Implied (M) |

| ---------- | ----------------- | -------------------------- |

| Best‑case | \$72–109 B | \$1.4–2.2 B |

| Base‑case | \$9.7–17 B | \$190–340 M |

| Worst‑case | \$0.19–0.31 B | \$3.8–6.2 M |

---

### 🔹 Takeaway

* **Best‑Case**: Multi‑billion dollar in‑situ potential if Red Setter is Telfer‑scale.

* **Base‑Case**: A 4–7 Moz discovery could justify a **hundreds of millions** valuation, especially with Telfer nearby.

* **Worst‑Case**: Minimal impact; uneconomic as a standalone deposit.

---

Here’s a **scenario-based resource scale model** for **Wishbone Gold’s Red Setter project**, based on current geology, early drill results, and Telfer/Havieron analogs. This is **conceptual only**, since no JORC resource exists yet.

---

## 1️⃣ Key Assumptions

To frame possible outcomes:

1. **Footprint of the magnetic dome**: \~3.5 km × 1 km (≈ 3.5 km²).

2. **Mineralized thickness (conceptual)**:

* Thin: 20–30 m

* Moderate: 50–75 m

* Thick: 100–150 m

3. **Gold grades (from existing assays)**:

* Early holes: 0.3–1.2 g/t Au, with occasional 2–6 g/t spikes.

4. **Bulk density**: \~2.7 t/m³ (typical for altered diorite/veined systems).

5. **Mineralization continuity**:

* Best‑case: Dome hinge + flanks continuous.

* Base‑case: Patchy with local shoots.

* Worst‑case: Narrow, discontinuous veins.

---

## 2️⃣ Conceptual Resource Scenarios

| Scenario | Volume (M m³) | Tonnes (Mt) | Grade (g/t Au) | Contained Gold (Moz) |

| -------------- | ------------------------------- | ----------- | -------------- | -------------------- |

| **Best‑case** | 3.5 × 1 × 0.1 km = **0.35** | \~945 Mt | 1.0–1.5 | **30–45 Moz** |

| **Base‑case** | 2 × 0.75 × 0.05 km = **0.075** | \~202 Mt | 0.6–1.0 | **4–7 Moz** |

| **Worst‑case** | 0.5 × 0.2 × 0.02 km = **0.002** | \~5 Mt | 0.5–0.8 | **0.08–0.13 Moz** |

---

### 📊 Scenario Interpretation

1. **Best‑Case (Telfer‑Scale)**

* Continuous, thick (\~100 m) mineralization across most of the dome.

* Even at 1 g/t, could support **multi‑Moz bulk‑tonnage mining**, leveraging Telfer’s infrastructure.

* Requires deep drilling to confirm size and grade continuity.

2. **Base‑Case (Small to Medium Deposit)**

* Patchy mineralization in the hinge and flanks.

* Tonnage \~200 Mt at 0.6–1 g/t → **4–7 Moz Au**, potentially economic as a satellite to Telfer.

3. **Worst‑Case (Vein‑Bound)**

* Only small, narrow shoots discovered; no bulk-tonnage continuity.

*

@coldspy

I did exactly the same but given good news, then missing out on 5% is inconsequential. 🤞🏼

Wishbone Gold (AIM/Aquis: WSBN) has recently started deepening two existing reverse-circulation (RC) drill holes at its Red Setter Gold Dome Project—from around 300 m to approximately 550 m depth, meaning circa **250 m additional drilling per hole** ([investegate.co.uk][1]).

However, **no official timeline** has been published for the duration of this campaign. While the company states that drilling is underway and progressing toward the target depths, they haven’t set a date for completion ([ng.investing.com][2]).

That said, based on typical field operations:

* Drilling two \~250 m extensions may take anywhere from **several days to a few weeks**, depending on conditions.

* Updates from the site, including tweets and forum posts, suggest "drilling in full operation" and rapid progress, with the first hole already cased near bottom as of late July 2025 ([x.com][3], [ng.investing.com][2]).

### 🔍 Summary Table

| Drill Campaign Detail | Info Known |

| ------------------------- | ---------------------------------------------------- |

| Number of holes | Two holes being deepened |

| Depth extension per hole | \~250 m (from \~300 m to \~550 m) |

| Official timeline | **Not provided** in any recent RNS or company update |

| Field indications of pace | “Drilling progressing… in full operation” |

---

### ✅ Bottom Line

* It’s clear the drill campaign is **well underway**, and strong progress appears to be made.

* **No specific duration estimates** have been disclosed by the company.

* Based on typical drilling pace, full completion could plausibly take **weeks—not days or months**—but that's speculative without official guidance.

If you’d like, I can monitor for further updates (e.g. assay results or formal operational projections) or help you follow their announcements more closely.

[1]: https://www.investegate.co.uk/announcement/rns/wishbone-gold-di---wsbn/drilling-operations-commence-at-red-setter/8989183?utm_source=chatgpt.com "Drilling Operations Commence at Red Setter - Investegate"

[2]: https://ng.investing.com/news/company-news/drilling-begins-at-wishbone-golds-red-setter-project-near-telfer-mine-93CH-2015789?utm_source=chatgpt.com "Drilling begins at Wishbone Gold's Red Setter project near Telfer ..."

[3]: https://x.com/eubankjr1?utm_source=chatgpt.com "Journeyman (@eubankjr1) / X"

@Gmed

I only took out a small percentage of a considerable holding. I wouldn’t risk losing out on news I’ve been waiting a long time for.

Nm

@Gmed

It is not uncommon for KZG to release an RNS during the trading day, especially recently. Not saying that we are going to get one today as I have no idea!

If you do a little research on how long it takes of the DMRE to issue licenses, even after all the obstacles have been cleared, then it’s clear that it may well be many months away due to a backlog of applications.

i’ve now gambled that it will take a while longer, and I have diverted a small percentage of my KZG holding to a gold mining company operating in Australia, who are drilling a claim that has similar geological qualities to a recent huge discovery by another company whose share price went ballistic for a short time. Hopefully those drill results will come back positive in the short term and I can divert any funds back into KZG.

More baseless, repetitive comments. Filtered.

From ChatGPT;

Here’s a **short guide to spotting when a finance bulletin board is turning into a cesspit**—so you can avoid wasting time or making poor investing decisions:

---

### **1. Misinformation Spreads Easily**

* Lots of **unverified “insider tips”** or rumors.

* Posts quoting **social media or WhatsApp rumors** instead of credible sources.

* Conflicting claims with **no links or evidence**.

---

### **2. Emotional, Not Rational, Discussions**

* Messages are full of **fear, anger, or hype** rather than analysis.

* Frequent use of **all caps**, exclamation marks, and insults.

* Overconfidence during rallies and panic during dips.

---

### **3. Rampers and Bashers Dominate**

* **Rampers:** Constant “to the moon!” posts or urging others to buy without reasoning.

* **Bashers:** Only post doom predictions or say “sell now” without evidence.

* **Agendas are obvious**—people are trying to influence rather than discuss.

---

### **4. Tribal or Personal Attacks**

* Posters **insult each other** instead of debating facts.

* Users are labeled **“shills,” “sheep,” or “derampers”**.

* Threads spiral into **arguments about personalities** rather than the stock.

---

### **5. Lack of Moderation**

* Spam, memes, or repetitive posts flood the board.

* Moderators rarely remove toxic content.

* Quality posters start leaving—leaving mostly noise.

---

### **6. Echo Chambers & Confirmation Bias**

* Only posts that **agree with the dominant narrative** get traction.

* Bearish or contrarian views are attacked or dismissed immediately.

* No one is critically examining the investment case anymore.

---

### ✅ **What to Do Instead**

1. **Step back** when emotion replaces logic.

2. Cross‑check claims with **reputable financial news or company filings**.

3. Spend more time on **moderated communities** or professional sources.

4. Use bulletin boards only to **gauge sentiment**, not to make decisions.

---

If you want, I can also show you **how to quickly filter useful posts from noise** on toxic finance forums.

Do you want that next?

Here’s a **short guide to spotting when a finance bulletin board is turning into a cesspit**—so you can avoid wasting time or making poor investing decisions:

---

### **1. Misinformation Spreads Easily**

* Lots of **unverified “insider tips”** or rumors.

* Posts quoting **social media or WhatsApp rumors** instead of credible sources.

* Conflicting claims with **no links or evidence**.

---

### **2. Emotional, Not Rational, Discussions**

* Messages are full of **fear, anger, or hype** rather than analysis.

* Frequent use of **all caps**, exclamation marks, and insults.

* Overconfidence during rallies and panic during dips.

---

### **3. Rampers and Bashers Dominate**

* **Rampers:** Constant “to the moon!” posts or urging others to buy without reasoning.

* **Bashers:** Only post doom predictions or say “sell now” without evidence.

* **Agendas are obvious**—people are trying to influence rather than discuss.

---

### **4. Tribal or Personal Attacks**

* Posters **insult each other** instead of debating facts.

* Users are labeled **“shills,” “sheep,” or “derampers”**.

* Threads spiral into **arguments about personalities** rather than the stock.

---

### **5. Lack of Moderation**

* Spam, memes, or repetitive posts flood the board.

* Moderators rarely remove toxic content.

* Quality posters start leaving—leaving mostly noise.

---

### **6. Echo Chambers & Confirmation Bias**

* Only posts that **agree with the dominant narrative** get traction.

* Bearish or contrarian views are attacked or dismissed immediately.

* No one is critically examining the investment case anymore.

---

### ✅ **What to Do Instead**

1. **Step back** when emotion replaces logic.

2. Cross‑check claims with **reputable financial news or company filings**.

3. Spend more time on **moderated communities** or professional sources.

4. Use bulletin boards only to **gauge sentiment**, not to make decisions.

---

If you want, I can also show you **how to quickly filter useful posts from noise** on toxic finance forums.

Do you want that next?

When people say a **finance bulletin board turns into a “cesspit,”** they are using **“cesspit” metaphorically** to describe an environment that has become **toxic, unpleasant, or full of low‑quality content**—much like a literal cesspit is full of waste.

Here’s **why that happens**:

---

### 1. **Emotional Investing & Herd Mentality**

* Money and investing provoke **strong emotions**—fear, greed, and frustration.

* When share prices fall, boards often fill with **panic, blame, and anger**.

* During hype cycles, they can become **echo chambers of overconfidence**.

---

### 2. **Anonymity Breeds Toxicity**

* Many finance forums allow users to post **without revealing their identity**.

* Anonymity encourages:

* Personal attacks and name‑calling

* Spreading rumors or unverified “inside information”

* Manipulative or trolling behavior

---

### 3. **Rampers, Bashers, and Agendas**

* **Rampers** try to **hype** a stock to attract new buyers.

* **Bashers** post **negative messages** to drive panic selling.

* Both can distort discussion until the board feels like a battleground.

---

### 4. **Low Moderation or Oversight**

* Without **active moderation**, misinformation, spam, and hostility can pile up.

* Civil, constructive posters often **leave**, leaving only the most toxic voices.

---

### 5. **Confirmation Bias & Tribalism**

* Investors often seek validation for their decisions.

* When challenged, discussions can **escalate into arguments** rather than informed debate.

---

### 🔹 Result

The bulletin board feels like a **cesspit** because:

* Quality discussion is drowned out by noise.

* Emotional reactions and hidden agendas dominate.

* The environment becomes **unpleasant or unreliable** for serious investors.

---

I can give you a **short guide on spotting when a finance forum is turning into a cesspit** if you want. It can help you avoid getting caught up in the noise. Do you want that?

I wasn’t able to locate any follow-up or clarifying statements from either the Malian Ministry of Mines or LMLB SA regarding the explosives shortage suspension reported in the Gouvernorat de la Région de Bougouni presentation.

Here's what I found:

🔎 Official Government/Mines Ministry Records

There are no press releases or official updates from the Ministry of Mines (led by Minister Amadou Keïta) addressing the suspension of quarry operations at Bougouni or confirming any explosives shortage since 1 June 2025 on their official website

Reddit

mines.gouv.ml

saheltribune.com

Available government communications from earlier periods—like the lifting of mining permit suspensions—focus on broader regulatory issues, wave roll‑backs, and mining sector reforms, but do not reference operational stoppages at LMLB or local explosives-related delays

Africanews

bamada.net

Anadolu Ajansı

🧩 Media and Independent Sources

I found no follow‑up coverage in Malian media or international press (e.g., Africanews, Sahel Tribune, Anadolu Agency) discussing quarry-level suspensions or labor disruptions at the Bougouni lithium project in July or August 2025.

Mentioned stories largely cover national mining permit policy changes, with no correlation to explosives supply chains or operational halts at specific sites

Africanews

saheltribune.com

Yeni Şafak

✅ Summary

The only reference to the mining suspension due to an explosives shortage comes from the regional presentation slide posted by the Gouvernorat de Bougouni.

Neither the Ministry of Mines nor any official Malian government outlet has published a statement confirming or following up on that claim.

LMLB SA has not made any corresponding public statements acknowledging an explosives shortage or suspension of operations.

🧭 Suggested Next Steps

If it’s critical to resolve this discrepancy:

Contact the Gouvernorat de la Région de Bougouni directly—via their official communications office or regional press.

Reach out to LMLB SA or Kodal, perhaps through investor relations or media contact channels, asking specifically whether the claim of suspension and explosives shortage is accurate.

Look for regional or local news outlets (e.g. Malian press) that may have reported on the ministerial visit or local reports in August 2025.

Let me know if you'd like assistance finding contact details of specific officials or local media sources in Mali.

Thank you—I cross‑checked Kodal’s official and reputable reporting to resolve the discrepancy:

🔍 Kodal’s Public Statements (June–July 2025)

In its Regulatory News Service (RNS) announcement on 30 June 2025, Kodal stated mining and processing operations at Bougouni “continue on site with over 40,000 t of spodumene concentrate produced and ready for export”—no mention of any suspension due to explosives shortages

news.metal.com

+14

Investegate

+14

Reuters

+14

.

The company also explicitly affirmed operations continue as normal in response to media speculation

London Stock Exchange

.

🧾 Independent Media & Reuters Reporting

Multiple outlets (including Reuters and Mining.com) report that over 20,000 t of lithium concentrate are stockpiled, unable to ship because of export permit delays—not production issues

Energy News

+3

MINING.COM

+3

MINING.COM

+3

.

There is no mention anywhere in these reports of operational suspensions due to lack of explosives.

⚖️ Interpretation of Discrepancy

The Government of Bougouni region’s July 2025 presentation, as shown in the slide you provided, cites a suspension of quarry mining since 1 June 2025 due to an explosives shortage, affecting over 300 subcontractor employees.

Kodal’s public statements and mainstream media coverage, however, strongly contradict this:

Operations at LMLB/Kodal’s site remain active.

Processing and production are being ramped up, with no declared stoppage.

The only documented issue is export logistics—not mining input shortages.

✅ Conclusion

The slide you referenced clearly represents regional or governmental reporting regarding specific operational challenges (explosives shortage, local workforce impacts).

Kodal’s official communications and external media sources make no mention of such a suspension and instead depict continuous mining and processing.

It remains possible these represent localized issues at the quarry level or issues in supply chain not deemed material by the company—though not publicly acknowledged by Kodal.

Let me know if you’d like help contacting Kodal directly or looking for follow‑up statements from government officials or LMLB.

Further after I uploaded the pic from Facebook of the slide:

Thank you for sharing the image.

I can confirm that the slide projected on the wall in your photo matches the text you quoted:

DÉFIS LIÉS AU PROJET

Suspension des opérations minières

Les activités d’exploitation de la carrière sont suspendues depuis le 1er juin 2025, en raison d’une rupture de stock d’explosifs. Cette situation a conduit à la mise en chômage technique de plus de 300 employés relevant des sociétés sous-traitantes opérant sur le site. Nous sollicitons l’appui du Ministère pour trouver une solution.

This confirms that the statement comes from a presentation given during the visit of Mali’s Minister of Mines, Amadou Keita, to LMLB (likely the Bougouni lithium mine) on 31 July 2025, as published by the Gouvernorat de la Région de Bougouni on Facebook.

It appears to be a slide shown to the minister and regional officials, documenting project challenges.

🔹 Key points

This is not a Kodal Minerals press release, but a presentation for a government visit.

It confirms a temporary suspension of mining operations since 1 June 2025 due to an explosives shortage, with over 300 subcontractor employees on technical layoff.

The slide also explicitly requests the Ministry’s support to resolve the issue.

Would you like me to cross-check this with Kodal’s official statements to see if they have acknowledged this suspension anywhere? This could clarify the discrepancy between local reporting and the company’s public communications.

From ChatGPT:

It seems the passage you quoted originates from a **Facebook post by the Gouvernorat de la Région de Bougouni**, summarizing the visit of Mali’s Minister of Mines, Professor Amadou Keita, to the Bougouni lithium mines (LMLB SA) on **July 31, 2025** ([facebook.com][1]).

That post appears to include issues related to project challenges such as:

> “Suspension des opérations minières… depuis le 1 er juin 2025, en raison d’une rupture de stock d’explosifs… mise en chômage technique de plus de 300 employés…”

The language and format you shared strongly suggest it matches that public post or photo-based communiqué.

---

### 🧾 What this means

* The source is **not from Kodal Minerals**, but rather a regional government update posted on their official **Facebook page**.

* It reflects **local/regional reporting** or concerns raised during the ministerial visit—not necessarily company statements.

* It conflicts with all publicly disclosed information from Kodal and mainstream media, which indicates **no mining suspension** and emphasizes continuous operations.

---

### ✅ In summary

* ✅ **Source**: Gouvernorat de la Région de Bougouni’s Facebook post (Minister’s visit, July 31, 2025) ([facebook.com][1], [facebook.com][2])

* ⚠️ **Content**: Reports suspension due to explosives shortage and partial layoff

* 🏭 **Contrast**: Public Kodal and media sources do **not corroborate** this claim

If you can share more details or a snippet of the photo or text from the post, I’d be happy to analyze it further or help verify its credibility.

[1]: https://www.facebook.com/100064632554088/posts/1136913251806416/?utm_source=chatgpt.com "Gouvernorat de la région de Bougouni - Facebook"

[2]: https://www.facebook.com/100064632554088/posts/1137631785067896/?utm_source=chatgpt.com "Gouvernorat de la région de Bougouni - Facebook"

If these are buys, which I suspect they are given the 9% uplift today, then next week could very interesting….

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

31-Jul-25 13:37:45 1.75 2,000,000 Unknown* 1.75 1.90 35.00k O

31-Jul-25 13:37:37 1.7485 2,000,000 Unknown* 1.75 1.90 34.97k O

01-Aug-25 16:25:00 1.90 2,000,000 Unknown* 1.75 1.90 38.00k O

01-Aug-25 14:10:53 1.80 500,000 Unknown* 1.75 1.90 9,000 O

01-Aug-25 14:10:34 1.80 500,000 Unknown* 1.75 1.90 9,000 O

01-Aug-25 13:42:29 1.80 500,000 Unknown* 1.75 1.85 9,000 O

01-Aug-25 09:05:53 1.80 3,500,000 Unknown* 1.60 1.80 63.00k O

…

🧭 What’s Next?

Trial production remains viable—Great Western personnel are on standby to support the operation once Muletown addresses staffing issues.

The JV is in early-stage discussions with external financing sources and specialist engineering firms to scale the mill for broader client use.

Once scaled, the mill could become a regional processing hub offering contract milling to other claim holders in Nevada—a move that would transform it from a modest internal project into a viable revenue generator for the JV and region

Reddit

+12

Sharecast

+12

Proactive Investors

+12

Research Tree

.

## 🏗️ Why the delay?

1. **Permitting & Inspection Delays**

* Initial operations were contingent on approvals from the Nevada Department of Environmental Protection (NDEP) and a site inspection by the State Mine Inspector. These were scheduled for mid‑2024 and were subject to possible delays of a couple of months ([Mining Weekly][1], [Investegate][2]).

* Final stage inspections were completed with minor adjustments required before operations could begin ([Sharecast][3]).

2. **Construction Completed, Pilot Pending**

* By late 2024, the mill site was substantially built, with all processing equipment delivered, and a power generator installed to tide over until grid power arrives ([MarketScreener Hong Kong][4]).

* The facility awaited final hook-up and minor upgrades necessary to meet health and safety standards before trial production could begin ([Investegate][2]).

3. **Capacity & Commercial Scale Concerns**

* Although trial runs through a gravity separation circuit are technically feasible, full-scale operations have been delayed because Muletown (the joint venture partner) currently lacks the staffing capacity to run the mill continuously. “Stop‑start” operations would be inefficient and not yield meaningful returns ([Sharecast][3]).

* The company now sees the next logical step as securing external financing and engineering expertise to scale up toward a commercial grinding and processing operation that could serve third-party material – without placing further capital demands on shareholders ([Sharecast][3]).

---

## 🔧 Timeline

* **Dec 2024**: Permitting and inspection originally scheduled for January 2025. Pilot production expected shortly thereafter ([Investegate][5], [Shares Magazine][6]).

* **Jan 2025**: Inspection by the Mine Inspector completed; minor modifications identified before start‑up ([Investegate][2]).

* **Apr 2025**: Construction is well‑advanced, environmental permits secured, and inspection clearance received—yet production is delayed due to partner capacity issues and strategic decision to scale first ([Sharecast][3], [Shares Magazine][7], [Proactive Investors][8], [Proactive Investors][9]).

---

## ✅ Summary

At this point, Great Western Mining hasn’t commenced processing because:

* They had to wait for **regulatory clearance**, which was granted after inspections in early 2025.

* The **mill is technically ready**, but needs **minor upgrades** to comply with safety and operational standards.

* Their JV partner, **Muletown**, lacks staffing to operate at scale in a cost-effective manner.

* The company is pivoting toward a **capital-efficient commercial ramp-up**, seeking external finance and engineering expertise before initiating continuous operations.

---

🧭 What’s Next?

Trial production remains viable—Great Western personnel are on standby to support the operation once Muletown addresses staffing issues.

The JV is in early-stage discussions with exte

MMs are happy to buy (via HL) 1,500,000 shares at 1.67 which is in the near the middle of the current 1.6/1.8 spread.

Is that a sign that there is a demand for shares?

@dusterinmong

Manifestation at its best! Don’t get me wrong, as a LTH with a not inconsiderable holding in IRON I would love to see that happen 🤞🏼💰!