Ann: WMX: Clarification on Wiluna Mining and GWR Joint Venture, page-15

Hmmm....it appears you disagree with some of my opinions @Hiddenvalue. It wouldn't be the first time. However, If you'd like to be a bit more specific about any of my opinions that you've interpreted as wild allegations, please don't hesitate to present any relevant facts that might be worth considering.

As far as I can tell, WMX are saying that GWR 'has an obligation to WMX' to bring the GWR gold deposits up to JORC 2012 compliance with at least 75% indicated, or if we put some numbers to it....75% of 289,000oz. Negotiations with WMX about developing the Golden Monarch deposit have obviously turned into custard with 3,000oz of Measured + 30,000oz of Indicated not attractive enough for WMX to agree to include it under the JV terms, which would then obligate WMX to start spending cash on pre-development / mine setup, mining operations, processing & refining.

WMX want the full GWR resource gift-boxed & developed on WMX terms, which seems extremely unlikely to happen considering GWR is reviewing (or has already reviewed) other opportunities to advance and unlock its gold potential.

The wording & tone of the WMX clarification announcement strongly suggests that GWR have already taken assertive steps in a direction that doesn't include WMX....& WMX really aren't happy about that. However, I think if WMX were to put the right amount of dollars on the table as a purchase offer that's 'to-good-to-refuse', maybe GWR might consider the offer? Who knows? The only problem is : WMX doesn't have the necessary quantities of spare dollars to considerately place on the GWR negotiating table at the present time.