WMG 3.70% 39.0¢ western mines group ltd

A few pointsThere are no lines to read between. Management has...

  1. 601 Posts.
    lightbulb Created with Sketch. 258

    A few points


    There are no lines to read between. Management has been saying for ages they are looking for the source and are investing in cutting edge technology to look for it, with announcements due in a few weeks about just that. Australia’s pre-eminent expert says it’s likely they will find better results, but you don’t need to be an expert to see they appear to be zeroing in on higher grades. Just read the lines.

    Yes, I agree, talk of manipulation is rife on these forums and nearly always deluded. I would hate to be a trader of WMG with such low liquidity. But just about all of these micro-cap explorers have been sold off in recent months. People here who concentrate on the share price rather than the exploration have taken their eye off the ball IMO.

    Regarding the macro environment: Elon Musk personally begged BHP for nickel a few years ago, which explains why they invested so much in Nickel West and in a mine that resembles Mulga a few hundred kms away. It's unlikely the macro environment will matter for a while anyway.

    Nobody here thinks Mulga is like Julimar, but warning people here that WMG could be like Chalice is unintentionally hilarious. Oh noes.

    Yes, the economics are crucial, that's what this announcement is all about. We are told our grades are lower than Mt Keith but the high grades of sulphur mean that this deposit will make higher levels of concentrate. WMG has credible management and I believe them.

    I don't think anyone expects WMG will develop a mine, because it's an explorer. They have neither the capital or desire to do it. This kind of development needs someone who can shift an awful lot of dirt and process it and solve problems of the kind you are talking about. That company is BHP.


    And yes, you are correct, HC is full of numpties like me, but I recognise experts when I see them, and that's why I invested in WMG.


    Good luck with your investments.

    Last edited by tagor: 31/08/23
 
watchlist Created with Sketch. Add WMG (ASX) to my watchlist
(20min delay)
Last
39.0¢
Change
-0.015(3.70%)
Mkt cap ! $29.28M
Open High Low Value Volume
40.5¢ 42.0¢ 39.0¢ $116.6K 293.0K

Buyers (Bids)

No. Vol. Price($)
1 1157 39.0¢
 

Sellers (Offers)

Price($) Vol. No.
39.5¢ 45520 1
View Market Depth
Last trade - 15.49pm 03/05/2024 (20 minute delay) ?
Last
39.0¢
  Change
-0.015 ( 4.88 %)
Open High Low Volume
42.0¢ 42.5¢ 38.5¢ 61193
Last updated 15.56pm 03/05/2024 ?
WMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.