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It was a tough day for all shares on the bourse today but you have got to think picking up a few WHE between .60 and .65 cents would be an absolute bargain especially once drill results start filtering through towards the end of March.
Whilst Pecs could be some years down the track they already have 30mlbs that is JORC compliant. There seems to be some speculation as to the viability of the Pecs mine due to it's depth.
They have started confirmatory drilling at Bataszek mainly
to ensure the historical data is on the money. We can expect results from that project by April, 2008 with about 10,000 meteres of further drilling mid year to confirm a JORC resource.
The real blue sky is in Paraguay where they currently have one drill rig in operation and another three that will begin operating there at various times throughout March, 2008. The first results from this aggressive program will be out in late March or early April, 2008.
Bison Basin was hoped to be their first operational mine and may still be, but it is not huge with the scoping study confirming only marginal returns. Folk sometimes overlook that the study was based on a stand alone mine producing only 1mlbs per annum from a confirmed JORC of only 2.3mlbs.
It is WHE's intention to drill another 40,000 meters of holes to acheive their exploration target of 8 - 10mlbs. This will all be happening while mine licensing and environmental permits are being sought and feesability studies are being completed. It must be WHE's managements priority to combine RIO's Sweetwater mill only 40 kilometers away. The potenial economic scenario could be the difference in proceeding with the mine or not. The $US62 capital costs of the stand alone option is very marginal.
Well Sparty for a lousy day when almost all shares took a schallacking WHE finished up at .65cents. I hope that was not you unloading a few at .60 cents. Go the Wildhorse.