WWI

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1.6¢ west wits mining limited

Ann: Trading Halt, page-142

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apep5638

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31/07/21

20:24

Post #: 54932689
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Originally posted by nikunjsahani: ↑

Potentially, god only knows the end result/reason but Grigor hasn’t sold any (would need to update if change is > 1% from memory) so one would assume the ceiling is a lot higher than 15c area.

Yes cardinal had more reserves but the current 3.55 is just the start for wwi as well (they’ve only gone to 300m so far). They mentioned can go up to 500m deep & still use the existing infrastructure & that’s just in qala shallows, there’s qala deep & the reefs which’l hold some as well. Neighbours are mining 2500-3000m deep with higher grades so whoever looks for a TO will consider not just current jorc resource & initial DFS but also potential to double that to 7 (of 12 historic) over time which puts us in line with cardinal. Please, I’m not expecting an exagerated figure like that (not at present at least). But simple math says
$100m usd/moz ~ $355m usd.
(+ conversion to aud & - 33% BEE) These both will potentially negate each other so left with $355m aud.
factor in 1.55b soi after this cr & oppies conversion & you get ~ .23-24cps.

this is all back of the paper ofcourse, will be more complex to include Mt Celia tenement that’l add value, performance shares the directors will get post reaching annual output targets that’l dilute a lil, capex cost for mine adding dilution, potential Jorc update adding value, cash balance, jurisdiction risk etc…

Even on the lowest estimates, I’d be highly surprised if the management (despite their recent failure to maintain shareholder value) accept anything < .20cps.

ofcourse PoG/Jorc update etc will all add significant spring so lets see. As most have mentioned here, potential brief downtrend-sideways for a while (5.5-7/8), followed by pick uo closer to DFS (8-10?) & then anyone’s guess weather it’s still got a lid on or allowed to fly if metrics are good.

I’m no mining expert & literally at infancy of learning about all this so please don’t take this as any kind of financial advice, if I was clued up enough, I’d prob not be writing here & living a better quality of life myself lol. Avg punter trying to make sense of things learning markets aren’t rationale & hoping to make a buck or two backing good horses here. Get some right & get many wrong. Hopefully can keep my losses low so do wel in long term.

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I generally agree with those calculations … average EV/oz ratio of $85-100 leads to the same. Or NPV of 20 years at 60k oz.
the issue is how much in advance before full production output should this value materialise. If a buyer of the whole asset comes and saves us - bang! It will be close to fair value offer potentially.
if brokers keep trading and capping, mgt keeps diluting, and all this - then we will see the fair MC in advanced stages of mining

WWI Price at posting: 6.9¢ Sentiment: Hold Disclosure: Held
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Ann: Trading Halt, page-142

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Ann: Trading Halt, page-142

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