Ann: Quarterly Activities Report, page-31

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joca

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15/05/23

22:13

Post #: 67787494
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Originally posted by wrighty64 ↑

Wiluna has always been a tough gig to mine its with all the oxides mostly depleted the higher grade underground sulphide ores full of nasty arsenic in the sulphides.
Apex built the biox plant to try and deal with it that was massively complex an expensive to operate but the gold price was the nail in there coffin.
That plant is mostly still there rotting away and the existing CIL and crushing circuits are very old and run down. The camp is nearly 40 years old and a complete pile of crap.
Milan had the right idea but several things worked against him .
When Brynecut were employed as the underground contractor they had to spend massive amounts of money on opening up drives ,Electrical , ventilation overhalls and huge de watering of pits before they could start to safely start mining .
The investment into the new concentrate circuit was a sound one as it would have had the volumes and eventual grade to make a difference the ruskies were willing to take all the ore hey could send .
Then the war started and the geology was not living up to what they said was there and rarley ever did so a few Geos needed a kick in the arse.
The answer is to build a pressure oxidization plant ( POX ) there as thats what he russians had an they were very happy with the results .
That would be a massive expense but the amount spent on past failures would have seen it done by now.
There is still a massive amount of gold there also plenty more to be discovered but i doubt they can pull it off in its current form as they will have to go back underground as stockpiles and tails wont last to long .

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So do you think a cashed up miner with the experience and cash could make this work ??
By the lack of offers or any details from the administrators it looks like you are probably right wrighty.
There is MA in this gold space but looks like WMC is unloved. SLR got rejected today with their offer for SBM's Leonora Assets

WMC Price at posting: 20.5¢ Sentiment: Hold Disclosure: Held
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Ann: Quarterly Activities Report, page-31

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