The announcement dated 22/03/22 & titled 'Wiluna Mine Progress...

The announcement dated 22/03/22 & titled 'Wiluna Mine Progress Report' is quite informative regarding where they're at with the grade of ore being delivered to the mill (2.7 g/t) & other circumstances that will affect (constrain) production for the next few months...



$10m cash in the bank + $14.8m in unpaid concentrates on site as at 31/03/22. They can't afford to take their foot off the pedal to reduce mining & development costs as this will cause further delays in access to higher-grade ore (5+ g/t).

The current production profile (4000 oz per month for the next 2 months) won't be enough to accommodate the cash spend over the same period. At this stage of WMC operations, cash still evaporates faster than it materializes & another CR (near future) is inevitable.

Having said that, I think the likelihood of WMC mining higher grades is a reasonable expectation (based on historic underground mined grade / process head grade data from previous mine owners)...