Totally agree with your sentiment re price . 50c represents less than half the valuation of SX2 and PPTA, noting that PPTA has Sb grade of .066 (90% less than wa8’s 0.5) and SX2 has no MRE until 2027 (wa8 now has Austrlaia’s biggest Open Cut sb resource.)
The maiden MRE arguably represents a major discovery of antimony in Australia. with tremendous upside near term.
I think the market is blinded by this bright flash of a lightning - it cannot believe how quickly those 60kt were achieved -it normally takes 2-3 years or more of drilling and assaying and met tests - condensed in 6 months.
The market needs to look at the context of this discovery.
-it takes years to make a discovery
-it requires $40-$80m to prove a 1m oz aueq
-if the Big Springs with 1m oz is sold for $30-$50m conservative, wa8 would instantly treble its share price because $50m is a lot of money for exploration
-SX2 has just attracted $160m AUD funding to simply drill, noting they won’t produce an inferred mre until 2027. So there’s strong sentiment in the gold/antimony sector
With regard to the wa8 price action, it’s been obvious to me some funds are keenly accumulating, capping it at 11c until another big buyer makes a move- taking advantage meanwhile of profit takers on a circa 30% rise in the last 6 trading days.
Interesting few weeks ahead and months for more drilling and assaying of historical drill cores.
WA8 Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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