Do you know what the resource of Flying Fox (owned by WSA) is? 1.8mt at 4.6% Ni. Western Areas in 2003 ran from a $30m mkt cap to $150m over 6 weeks on that discovery hole. Strangely enough the discovery hole was "only" 6.6m at 6.5% Ni. That was followed up by announcements that spoke of further massive sulphide intersected and then a 21m intersection of 7.8% Ni.
The scale here is potentially 5 times the size of Flying Fox. WSA has a mkt cap of $700m.. Yes, a pure Nickel miner with a $700m mkt cap. Grade is important.
I'm an advocate of taking some risk off at all times - But in the same breath, you gota know when to "hold em" too!!
This ones going higher.
SIR Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
