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

WMG

1.82%

27.0¢ western mines group ltd

Ann: MTD026 Update and Expansion of Mulga Tank Drilling, page-278

First 278 Last

Share
Profile

Follow
Dex1

82 Posts.

27

30/05/23

13:15

Post #: 68034214
Share

Originally posted by Rocklicker12: ↑

Everyone conveniently keeps omitting the fact that Nickel-west operations themselves have stated numerous times (and is public knowledge) that Mount keith IS uneconomic without Leinster operations propping up the grade.

everyone also has their head in the clouds with the resource potential. Even if it is .4% you better damn pray their drill spacing is 20x20 because if that resources reconciles to .3% you’ve just lost TWENTY FIVE PERCENT of your metal. Goodluck funding 20x20 grade control as a junior on an ultramafic intrusion of these dimensions.

these are genuine points and Tcb will have a cry saying I’m down ramping.

if you doubt my statements re mt keith economics literally just search a senior geo for nickel west/bhp or geo superintendent on linked in and ask them yourselves.

and if you acknowledge the above, what’s your end game? What are you holding on for? A take over? Where a predator will wait for the junior to absolutely kill selves with dilution before moving? Or a JV where likely all your upside will be removed by the squeezing of a giant.

essentially, with current known variables Mulga tank has 2 realistic scenarios.

1) somehow fund res dev, grade control and exploration, drill the orebody out before any infrastructure development so the blockmodel is bulletproof and there will be minimal reconciled variation (think Capricorn metals or Sirius/nova to an extent low grade gold & HG nickel vs Gascoyne res) one was drilled out and bullet proof, succeeded. One was minimal drilling into production and went tits up). Most companies begin mining before anything is a reserve, WMG will require majority of the nickel as a reserve be it probable or probable.

2) find a high grade domain or substantial lens of massive to semi massive or matrix sulphide to blend the low grade ore with.

2 is simple enough however finding massive pentlandite is not an easy task.

Expand

I dont think people are disputing that. More so that they are recognising the potential for significant upside in what is shaping up to be a substantial low grade resource.

People are not pushing a blue sky agenda. Rather, recognising a gap in the clouds where true blue sky can appear.

In other words, I would rather be drilling on a vast low grade reserve trying to identify some sweeter high grade spots to tie the economics in cohesively than trying to find the haystack before starting to look for a needle.

Did you miss out?

WMG Price at posting: 71.5¢ Sentiment: Hold Disclosure: Held
11 Upvote

0 Great analysis

Reply

Top Stories

WC8

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within

IVR

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

BYH

Bryah gains $408K government rebate for work on copper target Narracoota

AI stocks: What to expect in 2024-25

There are more pages in this discussion • 249 more messages in this thread...

First 278 Last

Add WMG (ASX) to my watchlist

(20min delay)
Last 27.0¢		Change -0.005(1.82%)		Mkt cap ! $21.84M

Open	High	Low	Value	Volume
27.5¢	28.5¢	23.5¢	$124.1K	462.9K

Buyers (Bids)

No.	Vol.	Price($)
1	41937	24.0¢

Sellers (Offers)

Price($)	Vol.	No.
28.5¢	11196	1

View Market Depth

No.	Vol.	Price($)
1	41937	0.240
2	49000	0.235
2	53200	0.230
2	38102	0.215
2	105000	0.210

Price($)	Vol.	No.
0.285	11196	1
0.300	20000	1
0.320	20000	1
0.325	30000	1
0.330	36233	2

Last trade - 15.59pm 16/07/2024 (20 minute delay)

WMG (ASX) Chart

Ann: MTD026 Update and Expansion of Mulga Tank Drilling, page-278

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

Bryah gains $408K government rebate for work on copper target Narracoota

AI stocks: What to expect in 2024-25

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: MTD026 Update and Expansion of Mulga Tank Drilling, page-278

Top Stories

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

Bryah gains $408K government rebate for work on copper target Narracoota

AI stocks: What to expect in 2024-25

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News