WR1 General Discussion, page-20603

I listened to the webinar live and put one question in. Actually two, but the second obviously was down the queue a bit. Overall I'd say Chris did a very good job of explaining things, even down to taking the blame for his 'miscommunication' regarding the 'missing' ten cores from the pre-fires drilling. His reasoning behind the timing of the CR was also very sound. As we surmised earlier in the week on this forum, at the present rate of exploration cash-burn the exploration-specific funding would have been exhausted by Christmas and there was no guarantee that Flow Through funding would have been available at the drop of a hat then. He was also right that we wouldn't want to burn through our other cash prior to MRE release and then immediately get the market offside by having to slap on a large CR straightaway, especially as the market's not stupid and would have guessed it was coming and provided a drag on our SP just when we should be set for a large lift. As for the probable size of the maiden resource it'd only be sensible to imagine something in the order 50Mt or a little over since only the central zone, including footwall, of the prospective resource will be included since most of the this year's drilling is restricted to infilling that area to a 50m square grid. Overall a very comprehensive and sensible update I thought. Oh, and funny to hear him mention Hot Copper and some of the unreliable material passed off here. At least we know they do look in occasionally.