As I have said before The Blue and Red Shears are at the centre...

As I have said before The Blue and Red Shears are at the centre of a new and major gold province. The two Shears run about 30 kms from West to East. NWR controls 18 kms of the shears and at this moment they seem to be the "heart" of the field. NWR reports that Blus Spec is the richest gold mine in Australia at 43 g/t. Drilling on Blus Spec is reporting gold equivalent ounces of 1,100 per vertical meter. NWR is drilling on several hundred meters of this strike and reporting JORC of 155,000 ozs with an anticipated upgrade to 300,000 ozs at similar high grades early in the new year. NWR says this system has "outstanding continuity". No-one knows how deep she goes but it is feasible IMHO that the vertical continuity may approach high grade deep mines in Africa and Canada. This is my speculative interpretation of NWR's comment about "outstanding continuity" and which will be partially probed in the new year.

The Shears contain +30 high priority targets. NWR has drilled and reported on two and both have come up trumps at Blue Spec East and Green Spec. The high grade gold mines now have about 5 kms of strike. A further 7 kms to the East WTE is finding high grade open pit material on the same Shears.

WTE holds leases parallel to the South and control the Eastern extension of the Shear zone. Yesterday WTE's share price took off and may be affected by news from NWR. These leases which run about 7 kms South of the Shears and run the whole distance of the Shears are honeycombed with surface gold open pittable deposits of grades running 2-5 g/t (about half of this area is also controlled by NWR but their drilling is currently directed at finding very high grade ounces).

It looks as if NWR's technical work is "world class" and it will be very interesting to see results from the continuing 18,000 kms drill program. IMHO this work will be succesful and is the prime reason why NWR undertook the recent rights issue to raise $5 million. THere are now at least four brokerages who have joined in the funding.

Turnover in the stock is now looking deep and yesterdays close at 37.5 cents was an all time high close on very heavy volume. Incuding the new issue NWR is now valued at $26.25 million (cash of $6 million). IMHO this is a very stingy valuation for what appears to be the development of Australia highest grade gold mine and new gold province. WTE has already been funded by a variety of deep pockets and IMHO they control the "leftovers" in this province. Between NWR and WTE various published estimates put the current potential based on current work programs on this field at around 2.5 million ounces and they have only scratched the surface.

Disclaimer: Please do your own research and seek qualified opinion.