AW1

2.00%

9.8¢ american west metals limited

Agreed, new areas of discovery and past to expand upon. The...

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hotuna

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19/03/24

19:59

Post #: 72967372
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Originally posted by Giovanni33: ↑

I disagree with you that they need to find the motherlode (which you mentioned a few posts up). The surface deposit being expanded will be sufficient for a re-rate. In fact, if it keeps going in all directions like it is now, it's even better than sinking diamond drills into the deeps in the short term.

A bigger surface deposit =

- The possibility of bridging finance
- Offtakes
- More short term revenue

While the copper has obviously come from somewhere and geologically the chance of a well endowed feeder zone is quite high, producing cash and minimizing dilution ASAP is better for the company and shareholders overall. Many of us have changed our tune on this after seeing the consistency of the copper at surface and Dave's vision come to light. Of course we still want to find it, but the above scenario is a realistic pathway to cashflow.

This also leads into the point about the bay ceo's remarks from years ago. A lot has changed since then and I don't consider it to be pertinent information any more for 2 reasons.

1. The geological code was "cracked" by AW1 who has been consistently finding copper and has already produced a MRE, with plans to expand it. Bay could not have done this themselves, which is why they JV'ed it out. And the %'s are pretty much in line for a Junior who has good prospective ground but very low ability to raise capital to do anything with it. One can get into a discussion on the TSX and mining juniors abilities to raise capital there which is somewhat pertinent but not the only reason.

2. The majors walked away years ago because they were specifically looking for giant deposits. They did not find them but that's then and this is now, copper is being found. There is also a note from BHP where they discuss the prospective nature of storm and outline what they were looking for (someone posted it about a year ago, this topic has come up before). Also back then copper did not have such a rosy outlook. BHP has recently pivoted very aggressively into copper but in those days was not as obsessive over it.

And for Bay's views on storm now, of course they're going to enjoy the free ride and free carry. If I was a bay shareholder that's exactly what I would want, a no risk deal with huge potential upside. Good on them and hopefully we succeed together.

Either way this discussion can go around in circles forever, you have a more bearish opinion and many of us have a bullish opinion. That's fine, we are pretty aware of the risks and optimistic that the drill bit will do good work this year. Good luck to everyone.

Expand

Agreed, new areas of discovery and past to expand upon. The upcomming season is very bright, lots to look forward to.

In terms of SP, I make zero assumptions, the market will decide. A rising CU though could maybe get us past ATH SP price if we get similar hits to last season , but lets wait and see. No point speculating.

Last edited by hotuna: 19/03/24

AW1 Price at posting: 13.0¢ Sentiment: Hold Disclosure: Held
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