WMC 0.00% 20.5¢ wiluna mining corporation limited.

The flotation plant 54% complete. Also at 35% advanced. This is...

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    The flotation plant 54% complete. Also at 35% advanced. This is good.
    Metallurgical test work so far positive and ongoing. (big hitter).
    This is what you negative guys are complaining about. ie Gravity and Cashed Up Bogan (which vanished lately.)
    Rod mill is done. To take care of tailings and stockpile. Also the future.
    So getting close to forecast.
    Current underground proven reserve 661K oz @ 4.74 g/t.
    Which is a hell of a lot better than other small cap. @ $150 mill.
    $ 35 mill plus in cash plus $40 mill debt signed off to boot.
    Hedging agreement at $US1,820 for 4 years for 140K oz not good.
    I also noticed the share price did not improve on this announcement.
    Also the 9% plus interest rate. (would you lend these guys $40 mill @ this rate. I would want way more).
    However there is still 60-80k oz/ann. that can be sold on mkt.
    Subtract treatment costs for sulphide and the $US 1,820 they are still making US $100-200 oz.
    Then when production is in full swing at 2022, they may produce 100-120K oz. Then the margin is US $300- $500 at minimum.
    Done.

 
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