I agree with your view - still very over valued for what is a low grade deposit. Low grade lithium = high cost which will not survive except when lithium prices are very high. Close to ports and a ML only count for so much. One has to have rose coloured glasses to rate WC8 as a buy or even a hold at current prices.
I expect all the WC 8 chums to criticise me about my views but I deal on facts.hidden in announcements.
Go and look at the detailed assays not just the highlights and you will see it’s a low grade deposit in the making in a tiny tenement. So many investors get conned by the highlights in company announcements without looking at the detail
Look what happened to CHN’s SP down almost 90% from its peak as it is a low grade deposit. So many investors brought the CHN hype and marketing BS from the CEO. Yes it’s a big deposit but it’s not economic at realistic metal prices and a realistic cost of capital. The message from CHN (and RTR and many other deposits) is that even if it is a big deposit if its low grade it’s not necessarily economic.
WC8 SP has a lot further to fall. One must remember only about 1% of discoveries end up as a mine.
Now I wait for the barrage of criticism from heaps of posters which I expect will have few facts to justify their views (its normal).
WC8 Price at posting:
54.0¢ Sentiment: None Disclosure: Not Held
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