Starting this post with a clear statement that I still have long positions in both WMT and BLR, have done for some time and will for a while yet. I have traded a chunk of profit on them and both are really well into the black on my trading balance sheet.
Gee, but WMT's performance in the last week has surprised the hell out of me and I was so wrong thinking it would be stuck below 6c until the drills were done and assays reported from depth.
The trenching results were certainly very good but there are a heap of "victim punters" that have got on board now and I feel it is trading on emotion rather than solid fundamentals. Classis buy the rumour stuff!!.
The market cap, when you compare it to BLR, is a bit high now, especially considering were they are in their development timeline.
BLR on today’s announcement seems excellent value compared to some of the other uranium stuff that is running, they have some brilliant projects that are much closer to producing cash and IMO are still not really well understood by the market.
If I were looking to take a position in one or the other in the next few days or week, I would certainly be moving on BLR.
Probably will be proved wrong again, it seems to happen regularly, just as well I am making plenty (for me) on my trading otherwise I would feel embarrassed! (Have put well over 200k in the bank from these two just this Month!)
I am duplicating this post on the BLR thread!
WMT
western metals limited
