Ann: High-Grade Drill Results Support Wiluna Sulphide Development, page-4

I cannot understand why the mkt cap of this Co is not higher.
Drilling campaign successful including infill and expansion for stage two.
If this Co was purchased now it would be at least 70 mill below recent costs.
A couple of reasons why it has not;
- past history not good with Brian Dixon false illusion.
Now that Milan has rectified the problem and increased cash flow and balance sheet to the better this no longer a threat.
- cash raising coming soon
Not needed unless they want more grade drilling for stage two feasibility. Which is not necessary as recent drilling has confirmed.
They have already sulphide ore in place and if Gravity Waves wants the grade of that ore I suggest he go with a wheel barrow and check it out.
That is what recent infill drilling usually confirms. Particularly near stopping and ramps.
Loan agreement is paid with gold for Dec. instalment. No other debt in place and this qtr 8-10 k oz produced from non sulphide ore.
I believe they have over 18 mill in cash after they spend 4.5 on final construction for plant.
- Will this transporting of sulphide work?
That is the big question that maybe on investors minds.
The Russian and Israel co that wmc are contracted with are huge and successful for concentrate.
This has to be included in AISC.
This is where the discount on share price is.
Judging on recent drilling campaign overall ASIC may remain
below $1,500 for 120k oz for a couple of years.
At that a mkt cap of 160 mill seems cheap.
Then add stage two.
Done.