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.

Hi @yurts,WMC usually present their numbers & estimates based on...

First 7 Last

Share
Profile

Follow
GravityWaves

1,769 Posts.

783

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

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

MIN

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

First 7 Last

Add WMC (ASX) to my watchlist