GS - understand your reaction up to a point - given the wayhe placement weas handled, we're proabably starting to get a clearer picture of the "commerciality" of WR. C+ "can do better" i wld be writing in his report card atm.
Yes there could have been punchier headlines to alert the market.
I wld briefly summarise my impressions thus.
Detriel and CID Mineralistation - positive - this news to market.
Rokhole Bore - grades are OK - should probably be enough to be economic grade when all costs are factored in.
Abolone - good news
Overall this is a good report that could have been better, and more clearly presneted with the implications better fleshed out....
i.e what does this mean for the 100mt resource target? are we going to meet it now? is there a possible upgrade of resource target? How close are we to an inferred JORC statemnet or areas based on existing drils?
Theses are the statments that will get the price sizziling. A more savvy MD would have attempted to maximise these.
As I said previously, WR has been given a blue ribbon A+ piece of real estate to develop.. it is outperforming in my opinion. The same cannot be said of WR, alas. He is there coz at his job interview he dropped a few names, which got him over the line - when the time comes to call them in, let's hope he wasn't all bluster & bluff....We should be OK - BRM is a hard company top mess up from here on in. You would have to be a mornon MD to make a sow's ear out o this silk purse.
YML
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