wsa far richer than jubilee mine, page-8

Hi Jojo
I was never involved in Jubilee (JBM) is any way... apart from reading about the huge takeover from Xtrata last October.

But spent several hours reading through all their last anouncements (which are juuuuuust about to expire from ASX site for those interested).

The thing that struck me most was how poor the Jubilee grades are compared with WSA. To illustrate the point i have copied the BEST extracts from JBM's chairman's address and Sept.2007 Quarter report. Capital letters (emphasis)is my own.

1) "Mill feeds (incl. utilisation of ore sorter) INCREASED to 3.75% Ni". Note: fails to mention JBM were (rightly) mining their richest ore bodies by this stage.
2) 'Announce go-ahead of Sinclair Mine which contains 47,300 tons of Ni grading at av. 2.5%' Note: The WSA Flying Fox deposit alone blows the Sinclair mine out-the-water.
3) 'Recent "EXCELLENT" drilling results from "high-grade zone" INCLUDE (not average) a (single) drillhole of 56m at 1.5% Ni including 18.5%m at 2.4% Ni." This is their BEST result. WSA has barely started at Spotted Quoll and already has many holes with 7-9% Ni including 17m at an incredible 14%!!!
4) 'Another drillhole returned 6.7M AT 6.1% Ni and 107m at 1.3% Ni. WSA HAS MANY MANY STRIKES WITH 6M AT 6% nI. NOT AN ISOLATED INCIDENCE.
5)JBM chairman states.." These results provide a platform to achieve our stated targeted production of 30,000 ton Ni per annum by 2012.

What Happened?? 4 days after this report release Xtrata bought out JBM for $2.1 Billion!!!!

Yet WSA is scheduled to produce 34,000 tons Ni by 2011. (see WSA report dated 13/02/08)

So ALREADY WSA is in a considerably better position (apart from actual metal production) than JBM was in October 2007 when Xtrata stepped in.

Flying Fox alone (one of 4 WSA deposits)is predicted by the board to announce a proven resource of 150,000 tons Ni metal by December THIS year. Yet the entire JBM mine contained 192,000 (517,000- 325,000) tons Ni above meagre 0.7% Ni.

Hence, Flying Fox by itself is almost as big as all the 'rich' orebodies of JBM put together. BUT the WSA deposits (and i know i keep saying this) are virtually ALL richer then the JBM deposits. Plus WSA ore is MUCH more consistent.

What can stop this WSA mining venture becoming a large and highly profitable Ni producer from at least 4 mines??
Surely.... only a takeover.