batavia selling, page-6

Hi outrigger

I know a summary of the fat prophets report has been posted, but I think what has been quoted here is not a great reflection of the report. I'm a paying member, so get annoyed when ppl send it around to anyone. So I have avoided getting involved in these discussions. But at this point, I'll make two observations:

- trying to rewrite what fat prophets have said in a different way makes it easy to misinterpret.

- I don't actually agree with what fat prophets have said. Fat prophets is suggesting that the head grade of 140ppm is too low to mine economically. The results WME have been recieving from recent drilling have been significantly higher than this. So i'd suggest that their final resource will be above 200ppm. Fat prophets have also failed to talk about the upgrading process which could, depending on meturallogy results, end up with the head grade being around 500ppm. Therefore, WME need to do the drilling, assess the results and do a feasibility study to determine if the mine is economic. I think it is actually incorrect to suggest that it is unlikely that the mine will be economic at current prices. I will be interested to see if the company has anything to say about this.

Hopefully we'll get the resource update next week and some positive broker coverage from there.

Lots happening here and too much to talk about in one post. Fair to say it will be interesting times ahead for those patient enough to ride out the selling.