I see this morning that the company MM8 has filed tenements to the South of WES Mt Holland and coming down to the WES tenements for the lithium project.
So WES has per Kidman Resources ASX reports some 1,200,000 Oz of gold it has done nothing with for 6 years since they purchased Kidman - disgraceful not to develop this to hedge the lithium losses in Mt Holland lithium project.
If WES had half a mining brain (not) they would do a deal with MM8 as they are refurbishing the nickel plant to a gold plant and process the Mt Holland gold resources/reserves.
So WES gold about 1,200,000 Oz gold @ $4,161/oz (19/12/2024) = $4,993,200,000
Costs @ $2,000 Oz (high) = $2,400,000,000
Profit before tax (30%) = $2,593,200,000
So if clueless WES did a deal MM8 80% - WES 20% (free carry to 1st gold production) and let MM8 manage the gold operations so WES wouldn't have to do anything WES could potentially pocket $518,640,000 for doing nothing and this would bring back to WES 80% approx of its Mt Holland acquisition costs in a future sheeeet Lithium market which which doesn't have a future IMO based on further battery advancements (sodium-ion and zinc-ion) technology.
WES not developing the Mt Holland gold assets is neither in the best interests of its shareholders or the State of WA.
MM8 Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
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