Why Aren’t They Promoting It Loudly?
Here’s why WMG might be keeping a low profile despite a significant find:
1. Underfunded and Focused on Basics
Cash Strapped: WMG operates on tight budgets. They raised $1.08 million via a placement in November 2024 to fund Mulga Tank exploration—peanuts compared to the $10s or $100s of millions needed for feasibility or development. Every dollar likely goes to drilling or assays and met work , not social media ads.
Small Team: With a lean operation (typical for microcaps), they might lack staff to run a marketing push. Their November 2024 update was a dry ASX release—factual, technical, no flash—suggesting geologists, not PR pros, are driving the bus.
2. Regulatory Caution
ASX Rules: Australian juniors must file discoveries formally (e.g., JORC-compliant reports) before casual promotion. WMG’s updates stick to this—e.g., October 17, 2024, drilling results were “exciting” but couched in data, not hype. Social media risks overstepping into “forward-looking statements” that could trigger ASX scrutiny or shareholder lawsuits if results falter.
Avoiding Hype Backlash: Mining’s littered with overhyped flops (e.g., Poseidon Nickel’s 1960s bubble). WMG might fear a retail-driven spike-then-crash, especially with a thinly traded stock.
3. Strategic Play
Big Partner Hunt: A major find like Mulga Tank could lure a mid-tier or major (e.g., BHP, IGO) for a JV or buyout. WMG might be pitching quietly to these players—who don’t need TikTok videos—rather than riling up retail investors who can’t fund a mine. Their December 2024 royalty buyback (1% NSR for 800,000 shares) signals they’re cleaning up the asset for a deal.
Stealth Mode: In a competitive region, shouting about Mulga Tank could draw claim-stakers or rivals. Staying low-key protects their ground until they’ve locked in more data or tenure (Maybe staking more ground) .
4. Early-Stage Uncertainty
Not Proven Yet: While Mulga Tank’s intercepts are wide and mineralized, it’s still disseminated (lower grade, spread out) versus massive sulphide (high-grade, concentrated). They’ve got no defined resource estimate yet—1,200 meters of “nickel-bearing” isn’t a mine until economics stack up. Promoting too soon risks skepticism if grades or scale disappoint.
Market Timing: Nickel’s been battered (prices crashed from $50,000/tonne in 2022 to ~$16,000 in 2024), with WA’s nickel sector collapsing (e.g., Panoramic Resources mothballed). WMG might wait for a nickel rebound or a solid resource report to make noise.
5. Not Their Style
Low-Key Culture: WMG’s announcements are technical—drill depths, assays, geological models—not flashy CEO interviews or 3D renders. Unlike juniors posting core photos on social media daily (e.g., Chalice Mining pre-2022), WMG seems content with ASX filings and occasional investor webinars. They might not see social media as their lane or lack the knack for it (highly unlikely).
Their Discovery’s Value
Potential: Mulga Tank’s scale suggests a multi-million-tonne "contained metal" nickel system, possibly 5–10 million tonnes if drilling pans out . At 0.32% Ni (typical disseminated grades), that’s worth $80 - 160 billion at $16,000/tonne. Cobalt, copper, and PGEs add upside. But it’s years and $100s of millions capex from production.
Current Worth: With no resource or feasibility, WMG’s market cap reflects risk—say, $5–$10 million. A big find could 20x that short-term if hyped, but they’re not pushing it.
Why Not Social Media?
WMG’s quiet approach fits the “underfunded microcap” mold:
They’re scraping by, drilling over tweeting.
They’re playing it safe with regulators and big investors.
The discovery’s real but raw—promotion might wait for a resource or partner.
Contrast this with, say, Azure Minerals (ASX: AZS), which soared in 2023 on lithium hype via social buzz, then got bought by SQM for $1.7 billion. WMG’s nickel play isn’t as sexy now, and they’re not chasing that wave. If Mulga Tank firms up, they might shift gears—or get snapped up quietly.
What’s your take?
I don't know anything,
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