Whilst the Fletcher zone is a monster unto itself, I am sort of more excited about the greenfields exploration to the south, which... after a bit of digging, has proven that Karora did indeed slow right down on exploration across everything in its portfolio to focus on mining Beta profitably.
However, WGX is now able to let the Geo teams loose and target... well targets of size.
I do find it interesting that WGX is not also going after the many targets that surround the Higginsville plant itself, but... if Beta is already targeting 2.5mtpa... and their current processing capacity at both the plants is 2.8mtpa, then... perhaps there is simply little need?
This is what Karora targeted in 2020.
Slightly off topic, but I am impressed by Karora's ability to have met the guidance they put out back in 2021. That is a lot of sunken capital that WGX merged entity benefits from (it's surprisingly similar to WGX on a relative basis).
They made a little progress on the two targets Zule/BLF...
Just like the Murchison assets, Karora is target rich, but has not had a chance to properly drill any of them. This from 2023 shows how quickly Fletcher has now become (could see mining this FY).
Just think.... Fletcher's exploration target is 1.6-2.1m ounces..... There are 8 more targets currently known at Beta.
Plus... to the south, no drilling and.... how deep does it all go??
Even more off topic, but... I think it's worth a mention, the Nickel base case.... it's just a pure freebie at this stage for WGX.
Looking forward to seeing what the 19 rigs can find.
WGX Price at posting:
$2.76 Sentiment: Hold Disclosure: Held
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