Forgot to mention why they see similarities with Kanowna Belle 6.5M oz deposit.
From KWR's announcement
"The underlying bedrock sequence is a thick, regionally developed Archaean polymictic conglomerate unit of the Boorara Domain, Black Flag Group metasediments that form the core and part of the eastern limb of the Goongarrie Syncline. In the target area these mixed siliciclastic sedimentary rocks are found to be intensely chloritised, silicified and variably quartz veined."
The Kanowna Belle deposit.
"The deposit lies beneath a 40 m thick blanket of saprolite and is within a sequence that comprises a lower mafic-ultramafic sequence equivalent to the Kambalda Sequence, and an upper succession of felsic volcanics, polymictic conglomerate, felsic conglomerate and coarse felsic grits and arenites, with common porphyry intrusives. The upper sequence is equivalent to the Kalgoorlie Sequence and includes the Black Flag Group. See the Yilgarn Craton record for the regional setting and more detail on these sequences."
Some striking similarities there.
Given it is still very very early days I think I'd rather be in this and take my chances than wait for a confirmation announcement that could likely double the share price given the relatively low MC of $25M.
They find anything like a KB2.0, even half that size and you're looking at 10-20 bags from here minimum!
Use Deg as a reference of a recent discovery
Plus they're within trucking distance of a mill on a granted mining lease and own 100% of the project.
I see great value here!
KWR Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
