The small discount in the capital raising is a strong vote of confidence in WIA, as is Director's wanting to be part of the raising.
Post the raising the WIA market cap will be about A$200m which compares to the cash value of around A$410 paid for the (comparable) Osino Resources by Shanjiin International Gold in Feb 2024.
At this time in WIA's development, one could suggest it is fully priced by comparison to Osino. That would ignore the rise in the gold price from US$2000 in Feb 2024 to US$2734 right now.
Further, Osino's Twin Hills Gold project in Namibia contained around $3m oz of gold. WIA, also in Namibia has the 2.1Moz Kokoseb Gold Project and also owns the high potential Bouaflé Project in Côte d’Ivoire. It is very likely ongoing drilling in both projects will yield more gold, potentially a lot more.
WIA Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)