This was a clear 'window dressing' strategy from the get go....

This was a clear 'window dressing' strategy from the get go. Seen it plenty of time before.


Commence drilling and feasibility studies.

Talk up 'near-term production'

Go through the motions of establishing an operation.

Set up for T/O, walk away with cash and/or script.

Only BLK got this one wrong. Wiluna has too much history to dupe any Aussie producers - even the Chinese were wary of this one. Even the free-milling story, which had some credibility fell flat. Matilda was mined in the 90's - alarm bells anyone?

Here's a lesson for punters: No matter the commodity, no project stays undeveloped or in care and maintenance if it is profitable - especially when commodity prices are on the upswing.