Ann: Gold drilling at Challenger Deeps continues at depth, page-25

Hey Corbin,

$1 is a fair bit away. That would possibly happen if they eventually increased capacity at challenger to over 100,000 ounces PA and discovered multiple deposits within or around Challenger at higher grade. Also it could potentially happen as they move to development of tunkillia so I do think it's possible but I'm happy waiting for my initial target of 20 cents.

Lets just remember that Challenger was sold to Kingsgate for also 380 million in late 2010.

If you look at a 20-30 cent target your essentially looking at a company with a market cap of 160-240 million. The other juniors such as MOY, PNR, RMS etc etc are all trade with enterprise values at roughly 130-170 million and I don't believe they will be any better than WPG. In fact I believe WPG can match or have even lower AISC than these other juniors and WPG don't require any plant upgrades.

Also WPG's resource/reserve will grow rapidly once deeps is reinstated. The market is essentially valuing WPG as a mine that is struggling and about to close. Its far from that. It's needs to start being valued as a rejuvenated mine that is on the cusp of a huge discovery at challenger deeps. Get the resource and reserves established and increase minelife and everything will change.