I came across MI6 by accident recently, but cannot help notice some similarities between them and Warriedar - and some differences.
Both Warriedar and MI6 have 2.3moz resource (MI6 is all gold). WA8 - 2.3g/t MI6 - 1.2g/t
MI6 - oz/vertical metre - most between 300m and 400m WA8 - not known (or at least, not known by me)
Market cap MI6 - $290m WA8 - $105m
Both have multiple deposits over multiple kilometres of strike, although WA8 length of Golden Range is a number of multiples longer than MI6
Announced drilling campaigns MI6 - 80,000m in CY2025 WA8 - 4000m in CY2025 (will be more, but not known how much more)
Cash end March MI6 - $226m as of April 6th (Cap raise) WA8 - $7.9m
There was obviously a Tim Goyder factor in the success of the April $220m raise
I watched Amanda's recent presentation, and can't help but continue to be impressed by her, however, I think that 4000 metres of drilling is nowhere near sufficient for the tenement size and numbers of valid places to be drilled.
Warriedar stands out as a set of superior grade ore bodies versus MI6, with what appears to be greater prospects, but I believe we will need more capital to realise the potential in the short term.
I am also interested to know more about how secure from an unwelcome takeover WA8 is, and can see that Au Xingao Investment Pty Ltd have a near 18% direct holding in WA8 LinkedIn says a Luke Huang is executive director. Seems he was with Bank of China as a chartered financial analyst in a prior role.
WA8 Price at posting:
10.5¢ Sentiment: None Disclosure: Held
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