"Obviously, the grade of gold coming out and or quantity being...

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nugget_hunter

399 Posts.

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20/03/23

08:59

Post #: 66851086
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Originally posted by Chicarno88: ↑

I agree Cosmos831

As the gold price appreciates, so too does the potential for re-sale, merger, and or investment.

I ask myself, what is the machinery at the Woods Point mine worth?

If they sold this and the mine what would they receive?

I am not a mining engineer, nor a mine machinery expert so I do not know the answer.

Also, it is 2nd hand ad ~20 years old.

I spoke with one of the major investors in WRM yesterday. He and the other two are not worried.

There is Mt Carrington and Alaska he said, which is the real story and real value behind WRM.

The company is not broken from our knowledge.

They just fulfilled the SPP shortfall.

This is just my opinion and I am only speculating, but they are probably closing the mine and putting it into care and maintenance or perhaps they will sell it or merge the mine with another company that has more resources to run the mine and ramp up to full production.

There is no long-term debt to my knowledge other than trade payables.

Issue and red flags are simple, no current JORC report for Morning Star.

They inherited this mine from Au Star.

Obviously, the grade of gold coming out and or quantity being mined, and or the amount being recovered as dore bars with not sufficient to warrant further mining and production.

It's a real "hands-on mine" as it is underground with not drive-in with a truck, and no large machinery at the quartz face to extract.

I believe that KAU has a drive-in system at the A1 mine down the road.

It is better for WRM

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"Obviously, the grade of gold coming out and or quantity being mined, and or the amount being recovered as dore bars with not sufficient to warrant further mining and production."

Arent you the guy that said they made "profit" the last 3 qtrs at Morningstar???

hope you dont get too dizzy from all the backpedalling

WRM Price at posting: 6.3¢ Sentiment: Sell Disclosure: Not Held
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