Encouraging results from this drilling program. One of the tops...

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Porphygeold

1 Posts.

29/03/24

12:50

Post #: 73117394
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Originally posted by Joelstar: ↑

I'm extremely bullish mate and no I don't think I will be waiting long on this one.
All my opinion of course, not investment advice.

The market (I believe) is missing the near-term mining potential here.
Plenty of nearby mills to choose from.

Golden Grove mill (29m) is calibrated to produce a gold/silver concentrate (would they consider ramping up a cheap open pittable gold option in the face of falling base metal prices and record gold prices?). 29M has a 10k oz $750 out of the money gold hedges that they're looking to close out for a cost of ($7,500,000) and rising. What cheaper way to close out their existing hedge book than through cheap open pittable gold?

Golden Groves mill will process an extra 300k tons per annum once TSF lift is completed.

Deflector mill (SLR) could possibly change hands after the RED merger which could bring WA8 into the crosshairs of any new acquirer.
Deflector has under 3-year mine life.

Kirkalocka mill is currently under administration, will an acquirer of this project look to add valuable regional ounces???

Mt Magnet (RMS) is the least likely option as it has 10 years' worth of feed ahead of it.

Mt Gibson mill (CMM) is in the final design phase.

The cheap as chips WA8 (global EV value per oz $8) becomes more attractive to nearby deep pocketed mid-cap producers as that gold price continues to rise.

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Encouraging results from this drilling program. One of the tops this week.

WA8 Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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