WMG

7.69%

28.0¢ western mines group ltd

Ann: 2024 Exploration Programs Commence at Mulga Tank, page-27

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lpsupreme

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11/02/24

21:49

Post #: 72350459
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Originally posted by GeoFiji: ↑

I was very positive in the early stages because I felt that WMG would replicate the long low grade nickel intersections that previous exploration had uncovered. My positivity was because I thought that these kind of intersections would boost the share price enabling a fairly rapid doubling of initial investment. That proved to be the case and the share price spike gave early holders a great opportunity for profit. In the investment market in small cap explorers locking in profits is always worth serious consideration. "Take the rose tinted glasses off after a good share price run and assess carefully what to do next. "

I always understood that the next phase of drill out would take time and the hype would die down. Unfortunately the nickel price has gone pear shaped and it has increased the difficulties of funding the drill out phase and reduced interest in the low grade resource, most likely until a solid nickel price recovery sets in.

The company has great management and technical expertise. The focus on finding high grade zones has the potential to ease the pain for shareholders and progress project development a lot quicker.

I think WMG are doing a great job. With hindsight they should have raised another $10+ million when the share price was high to fund the exploration for high grade zones and low grade resource drill out to JORC standards.

My recent post on WMG is just my view based on my experiences investing in these types of companies since before the 1987 crash. This view isn't about technical geology. Share prices in this sector are captive to commodity prices, over reaction market sentiment swings and exploration success. Proving a large low grade nickel deposit will help them off the starter's blocks when the market sentiment improves with commodity prices. High grade zones may make the package compelling for corporate activity early in the next nickel boom.

All IMHO.
DYOR Not investment advice

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Thanks GeoFiji,
Well put!
Yes, the job being well done. The timing not so good.
But out of their hands!

WMG Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

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Last 28.0¢		Change 0.020(7.69%)		Mkt cap ! $22.65M

Open	High	Low	Value	Volume
26.0¢	28.0¢	26.0¢	$8.952K	32.94K

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No.	Vol.	Price($)
2	32166	27.0¢

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Price($)	Vol.	No.
28.0¢	2139	1

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No.	Vol.	Price($)
2	32166	0.270
2	19778	0.260
2	22959	0.250
1	2500	0.245
1	5000	0.240

Price($)	Vol.	No.
0.280	2139	1
0.290	4700	2
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0.305	30000	1
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Ann: 2024 Exploration Programs Commence at Mulga Tank, page-27

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Ann: 2024 Exploration Programs Commence at Mulga Tank, page-27

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