Ann: Diamond Drilling at Ricciardo delivers high-grade gold, page-22

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Joelstar

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04/07/24

15:38

Post #: 74610044
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Originally posted by speculator101: ↑

I think you should give yourself a pat on the back for finding this diamond in the rough. I know you do this for a living, but even then, the amount of small cap gold explorers on the ASX is.... extensive, with most not going to amount to much (though I am not necessarily saying they won't have their time in the sun).

Your point about the mining engineer is a very good, in that, it's so rare for explorers to actually develop an asset, even just toll treating is rare and hens teeth, which, is why I like their dual strategy. The WA8 board are clearly cognisant of how much explorers never really reward its shareholders (especially management other than wages). Hopefully over time they will be able to fully articulate to the market their plan, of.... getting 1 or more deposits into a toll treatment (or outright sale) deal whilst simultaneously drilling out the overall camp to discover a deposit that can justify a standalone development (in the sense that they will have the ability to force competitive tension between the 3 surrounding mills (plus their own aged one)).

As it would take a discovery of real size to actually justify a separate development. I think STK has shown that in some ways.... a solid deposit can be just as valuable if not more so than a stand alone, because, producers can justify a high premium for feed for their mills. i.e. multiples of 2-10x what a stand alone project might receive (though there are always outliers).

Though as you say, any sort of U/G deposit, is going to offer up a plethora of options, because, high grade ounces can be trucked.... well 300km seems to be the limit I have seen from the likes of RMS, but.... records are meant to be broken!.

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Thanks for the hat tip Spec.
As you say I've plenty of time on my hands to go searching for these jewels in the rough.
Don't like to cross promote but if you get a chance look at POL. I think it's another potential jewel. Love to hear your thoughts.
It's very satisfying to know that practically all recent WA8 investors are now heavily in the money.
Looks like yesterday's iceberg seller has left the scene.

.

WA8 Price at posting: 6.6¢ Sentiment: Buy Disclosure: Held
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Ann: Diamond Drilling at Ricciardo delivers high-grade gold, page-22

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Ann: Diamond Drilling at Ricciardo delivers high-grade gold, page-22

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Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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