My 100% return on my BLR investment requires a WUC Share price to attain $36.00P/Share
This would require WUC to attain a Market Cap of approx $360mill @ 100 mill shares outstanding.
Big call but if WUC can be self financing with Cash generated from the Sunday Mine & San Rafael, then there maybe some hope !
Here's an example of a sub $360Mill Market Cap Producer Denison Mines Corp.
Column 1
Column 2
0
Shares Outstanding (M):
187.15
Column 1
Column 2
0
Market Cap ($ M):
$440.80
Column 1
Column 2
0
Cash ($ M):
$98.898
Here's some resource figures for San Rafael
Seems strange that the Sunday Mine Geology is referred to Hard Rock ? Would of imagined being located within Colorado, it would have been predominately Sandstone hosted !
Ulti, I shall make contact with George Glasier over the coming day's & ask some questions regarding the geological makeup of the Sunday Mine resources !
The more conversations we have with Glasier the better understanding that we will have.
And YES I am am now tending to support the Take over, as it seems Mike has lost all confidence in his Shareholders, & seems to have very little confidence even in his own management.
To deny testing of the Ablation Technology process to WUC to do the field trials within the Sunday Mine complex, ore is an un-defensible action.
Ulti, I too was unhappy that Mike Drew, a close mate to Tony Simpson was not give the job of CEO after Tony's death. I managed to speak to Mike Drew on a number of occasions while Mike Drew was in the MD caretaker position & was highly impressed with his phone manner.
Things would have been very different with Mike Drew, as I'm sure he would not of entered into any arrangement with Blumont, unfortunately Haynes didn't follow due diligence in investigating the now apparent shady operations of Blumont.
Enough said at the moment, just thought I would let you know Ulti, that we support your positive thoughts even in our current dire financial BLR loss's.
We can only hope that George is more forthcoming & honest that what we have become accustomed to over our past 6 Years investment in Mr Haynes.
As much as I don't want to see the highly valuable BLR Farm assets sold for nicks we may short term have to bite our tongues & admit we also did not do our due diligence with our current Management.
Yes sometimes our gut feel can be wrong !
Ulti, this is going to be a very long term investment mistake by both of us.
G64
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BLR Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
