WAF V GRY, page-59

I doubt big investors are even looking pre-production stage juniors yet alone, early stage explorers? Gold is only coming back into vogue & isn't quite their yet.

The next major producer on the scene is ABU. Plagued with unmet timelines, backflips on production choices etc BUT with grade even for their initial plant feed of stock pile being what any goldie would drool over & potential for even bigger resource, inc' grade with ongoing drilling program. I don't compare the 2 but concerning large investors. You need to look @ where other juniors are at.

I intend to keep WAF on my radar as a potential.

The low start up costs are certainly enviable. My problem is with the production size. 69k ounces per annum for 1.6g/t isn't exactly on the higher end is it? Although ABU has stated similar ounces for their initial few years of production. Even though they are using stock piled tonnage for initial months quota through their plant. The grade is the key! 3-6g/t for their maiden run!

Even BSR, whom I admit I have forgotten about due to the time their taking to get moving (it's a joke really) profess to have an IRR of 404%! I still don't care much for the time being.

I hate seeing folk follow potential goldiesin anticipation, only to be let down by a curve ball from nowhere......sp is what the market is willing to pay for the project @ any given time whether we agree or not!