The other issue with WMC was that they were making a weird...

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eastwest101

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02/09/22

12:48

Post #: 63484289
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Originally posted by bullrush90: ↑

Imo Cain done his job well as head geologist for Wiluna just have to look at their presentations

Imo the main reason why a mines put into care and maintenance is low resource pricing.
Wiluna almost got it right but probably a year to early before gold goes pop.

Wiluna is also in the middle of nowhere, i believe staff shortages and covid implications were a problem.
Most of the high grade hits were 500m deep, an old underground mine would need a fair bit of maintenance and the risks from that depth are huge.
For example Yidbys pulling 3+ grades from 20m - 80m

Id also hate to think how much it cost to road train a couple ounces from their site to their buyers.

I also think Cains connections with Barrick could come in handy also. No mention of who closed the deals with them but im sure Barrick wouldve done thorough dd (including ensuring resource grade and size - Geologists job)
The phone numbers Cain has on his phone from those deals could be worth multiples of the current s.p if he can call in favours and get interest from big players.

Anyway if you want more information its all there just need to dyor mate.

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The other issue with WMC was that they were making a weird Arsenic-Gold concentrate which got shipped off to Russia for refining in early 2022 *cough Ukraine cough* (and I'll bet never got paid for) so I don't think we could hang that one on Mr Fogarty, maybe Mr Putin and some shifty lawyers from Trafigura, but prolly not Fogarty's fault.

With WMC on his resume he would have had a hard time getting another gig honestly, so lets cut him some slack.

Last edited by eastwest101: 02/09/22

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