One man's brave is another man's foolishness. I don't think I am being foolish, but would I know? WRM is my 2nd largest exploration holding, my #1 holding did very well and I am in the process of selling a large portion of it so WRM is destined to become my #1 unless it sinks faster than I can sell the other. Highly unlikely. I tend to always have a couple high conviction plays, WRM is my latest.
Quinton Hennigh is very knowledgeable and I believe very honest. Honesty at his level is hard to find in junior exploration. In the Crescat video he said he was buying enthusiastically. I cannot remember him saying he was buying a stock so openly ever. EVER. The soil samples are beyond encouraging, and everything is pointing towards a large focal area. The geologist generally credited with finding Pogo has commented that the soil samples at Last Chance appear stronger than those he saw for Pogo. Get it, soil samples used on similar geology coming up with even better numbers? Everything is pointing to a large gold deposit right in that area. Indications are it shouldn't be too deep. I think once they zone in on the target and sink a deeper drill then we could have a winner. Might take a few pokes at it. Might even take until next season but I think they have time to show us some good news this season.
To me, nothing in exploration is certain but you find your best bet considering the potential prize. To me, this is something like being one number short of a lottery ticket win, with 1 number yet to be drawn. Of course, I think the odds of a win at Last Chance is much better than getting that last number in the lottery. But oh, the payback if you hit. Maybe not a good analogy but hopefully you get what I am trying to say.
If WRM fails I will survive to move on to the next high conviction play, licking my wounds, but I think this one is as good a bet for a huge payout as we will get at this early stage. The cheap shares depressing the market cap of WRM makes it that much sweeter. Sour now, but sweet later I presume. Have a great weekend everyone.
WRM Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held
