Wow... it echoes in here! Must be a few people peering thru the...

Wow... it echoes in here! Must be a few people peering thru the fence tho?

On recommendation from a trusted source in the mining industry I recently sold out of CVN to invest heavily (for me) in WDR and continue to accumulate below 45c with a view of holding around 1M in short term and eventually being very comfortably wealthy .

I went to Norm Gardner's investor presentation and on the plus side re WDR, he said:

1. The resource can be easily accessed, most is literally on the surface.

2. Unlike some WA iron ore start-ups, this resource will not be bottle-necked by the traffic on rail/road... it will be barged straight off the beach to Cape size ships taking it to China.

3. The resource is on vacant crown land and there is no native title to consider.

4. AND... Norm said that the presentation had been compiled some weeks earlier. In it, there's a reference to the "substantial" resource at Roper Bar. He laughed and said "That should be changed to 'MASSIVE'".

5. He said first cargo of Direct Shipping Ore would be China bound in two years (first q of 2012).

6. He said Cap Ex in the region of $500m would be needed to build the harbour/conveyor area, expenditure which was insgnificant compared to the value of the resource.

7. There'll be lots of good news on the way. The first is likely to be the sample results (very, very strong)within weeks. The second will be the result of Scoping Studies to determine the best way to get the ore to the coast(only 48 k's.It's the closest significant resource to the coast in the country).



On the slightly negative side:

1. It's possible there'll be some sort of farm out at the
Cap Ex stage. But Norm reiterated he'd never lose the controlling interest, having been stung before.

Summing up: I've been to a few of these presentations and Gardner struck me as direct and capable. He's got dirt under his fingernails from the concrete business he's run in the NT for many years and is not a Perth accountant/solicitor with lots of cash, but no know-how.