In my opinion, consistent results of intercepts above 50m in thickness and a minimum grade of 1% will be sufficient. Keeping in mind a mining licence is already in play.
I will now provide evidence. Bald Hill just sold for $1.8B to MinRes for a 27MT resource at 1%.
I fully expect WC8 to at least match that criteria. Obviously we are hoping for a much better result but we do not need AZS intercepts to make good money here. We just need good, reasonable hits which is 100% possible.
The trading activity has been non retail the last month. I think it is retail who are selling many many bags up are not waiting around to potentially get burnt upon assays.
Yes it does take "reading between the lines" currently to justify the current MC. The trading pattern has been a pretty clear indicator of that. Hopefully myself and others who have taken the risk are rewarded.
GL holders
WC8 Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
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