Banter and General Comments, page-261

I do not get why so many posters are very positive on WC8 as I do not see the value in the stock.I have been watching this stock for a possible entry. My reasons are:

- the first assays show an average grade of about 0.80%. That is quite a low grade cf PLS, Wogdina and AZS, all in the Pilbara, which are around 1.15% to 1.2% ie the grade of the other stocks is close to 50% higher than WC8
- as the image below shows WC8 has 1.37 billion SOI including options which is a MC of $671m (or $531m excluding options (300m options is a huge number and cannot be ignored) which as far as I can see most are well in the money. That is, it has a high MC cf with DLI - MC $413m, WR1 - MC $235m, GL1 - MC $364m; there are other examples as well). These three stocks will or do have decent lithium deposits (eg 54mt for GL1), have higher grade deposits and heaps of assay results, yet are valued at half to two thirds of WC8
- PLS owned the Tabba Tabba mine when it purchased the Pilangooral deposit which had an existing resource if 8mt lithium. Why did they get rid of it when they were looking for lithium - they would have seen the pegmatites. They were either stupid or did not see a lot of lithium potential
- when AZS first assays were released it’s MC including Creasy’s 40% was valued at about $650m and its first assays were more impressive - much thicker true widths and 50% higher grade than WC8.

With such a large MC and a question mark over the quality of the deposit, WC8 seems a very high risk stock even for a mining explorer stock.

Maybe someone can explain why Iam wrong with evidence to back up their view.