Australia's largest stock trading and investment forum Australia's #1 stock forum

WMC

Click for more information

0.00%

20.5¢ wiluna mining corporation limited.

Ann: JORC Mineral Resource Update, page-7

First 7 Last

Share
Profile

Follow
GravityWaves

1,716 Posts.

708

30/08/23

12:27

Post #: 69635614
Share

Originally posted by yurts: ↑

Lip stick on a pig...

All the open pit modifying factors are at the extremes of optimism. A$3,250/oz POG, "overall payable metal recovery of 91.2%" for fresh rock is higher than historically achieved and unrealistic open pit cut-off grades of 0.35g/t (oxide/trans) and 0.7g/t (fresh). Most (all?) material won in cutbacks so expect high strip ratios, therefore higher mining costs. What are the open pit mining costs? What are the processing costs? 0.35g/t is about A$30/t recovered gold @ A$3,250/oz - can they really mine and process a tonne of oxide ore for A$30/t? It appears they have reported all gold above 0.35g/t and 0.7g/t in the biggest pit shell they have.

Optics don't look good... I would not expect much, if any, Resource to Reserve conversion from the open pit.

UG below 5g/t = marginal. Factor the refractory nature of the ore body and lower recovery/payable metal and <5g/t is a little worrisome.

Expand

Hi @yurts,

WMC usually present their numbers & estimates based on a high degree of optimism & end-up delivering about 60-70% (or less) for one reason or another. I agree with your comments.

Any reasonable outlook toward WMC probably involves exercising a high degree of scepticism...

WMC Price at posting: 20.5¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

Top Stories

CC9

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

NRX

Noronex kicks off EM survey at Humpback, Namibia – part of South32's earn-in deal to access Kalahari Copper Belt

SER

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

Dale Gillham's weekly wrap: responding to a weak iron ore price with investing decisions

Reporting wrap: Inghams, Accent, Mayne Pharma

The business of sport: Warren Tredrea's take on this week's news

RDN

Raiden gears up for exploration in final quarter of 2024

IPH

IPH raises $100M to buy up Canadian IP firm Bereskin & Parr

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

The Rising Tide: How institutional adoption is shaping the future of crypto

First 7 Last

Add WMC (ASX) to my watchlist

SPONSORED BY