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20.5¢ wiluna mining corporation limited.

Thanks CG, greatly appreciated.

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Uttsy

1,700 Posts.

197

12/04/18

12:42

Post #: 32406766
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Originally posted by CaptainGrumpy ↑

Hi Uttsy,

I think it's worth considering the position BLK had got itself into late last year. No such thing as a free lunch and 8 figures are not dished out lightly. A quick look at the broker data to see who has been distributing rounds out the story.

I thought (and evidently so did Mr Market) that there might have been one or two more positive announcements before the mine economics reverted to the mean later this year. Back into stripping soon and that could easily see negative cashflows for a number of months. If so, I suspect that will result in the final flush out of retailers who bought the Jan/Feb sugar hit.

If we get back into that 4-5c range I may be interested given the enormous leverage to POG and my uber bullish stance on that at present, but i'd be keen to see some insto support. That said, POG could blow it's stack any day now and BLK will be saved, but I'm not prepared to roll the dice on that, when the current share price is sky high against my personal valuation.

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Thanks CG, greatly appreciated.

BLK Price at posting: 7.3¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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