They have to find targets first before drilling - also need to weigh the various targets to spend on the best ones - then get the permits for drilling - maybe that's this years program. Then drilling early 2025 season. Of course if there is a surface target that is just a standout no-brainer they could cut corners and be drilling as soon as permits to drill can be arranged. AW1 also in Nunavut region of Canada seem to have no problems with drilling permits - and say mining permits are 1 to 2 years depending on issues. So all things considered those times are exceptional. Due to the new arangements and laws whereby Nunavut gets a part share of the royalty on minerals, and of course locals get jobs.
Apart from first mover advantage in this hugely under explored region there are some other great advantages for WCN too, not least will be Canada Govt financial interest to get more copper out of the ground. Also if surface copper resource can be proved up the possibility of ore sorting and DSO with low capex and early start can change the metrics as it did/does at Storm. We must weigh those against access only during summer season work only until drilling planned and underway then by building shelters work can proceed for longer months thru winter. We will see the extent of this this coming winter where AW1 says drilling will restart in Feb 2025.
With 2 great programs in Canada, and the Aussie assets to be worked or JV'd or cashed out this cashed up baby looks good for $27 mil Cap.
WCN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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