If you look at the WPG website you will see a report by this...

If you look at the WPG website you will see a report by this adviser/broker. Earlier this month he sent to his subscribers this update after the last announcement

"WPG RESOURCES (WPG) 6c

It is most frustrating to see stocks sold down to below their cash backing and what I saw with WPG was beyond ridiculous. Here is a junior that sold their iron ore assets to Arrium (formerly OneSteel) for around $320m and returned the bulk of the funds to shareholders and the ATO, yet was being trashed for perhaps having an iron ore project and a lack of news flow.

WPG on 4 October 2012 announced a maiden resource estimate that makes Giffen Well one of the highest grade BIF iron ore deposits in Australia. 689 million tonnes at an average grade of 30.9% Fe

One of the key takeaways from the full announcement is

“WPG notes that the resource tonnage at Giffen Well exceeds that at the nearby
Hawks Nest project which was sold to OneSteel (now Arrium) Limited in 2011.”

Despite the 20%+ increase from recent lows, WPG is still trading at a price I would regard as being “stupid” cheap. Giffen Well is now a significant resource, the Port Pirie assets remain and WPG is well cashed up and keen to do it all again for its shareholders. I have suggested to subscribers that WPG could well be both a trading counter and a medium to longer-term investment based on its rading patterns and hopefully we will again see 10c threatened on news flow and increasing volume."

Regards

Tony Locantro
Managing Director

Last week I emailed Bob Duffin regarding firming up of some dates. Amazingly he responded within the hour! Normally you just get ignored.

Here is his response:
"Thanks for your email. It's great when shareholders take the effort to contact me directly - I encourage you to do it in the future whenever you feel it would be helpful.

Not all DTR results are to hand yet. We expect them for the primary zone in the main lode later this week and also at the same time the assays for the two cored holes which were still outstanding when we released our resource estimates on 4 October. Once we collate them we will prepare an announcement as previously flagged.

We're not intending to commission resource audits or independent technical reviews yet. We did that for Peculiar Knob as a precursor to negotiating the Deutsche Bank funding and I expect we will do it for GW as the feasibility study is nearing completion.

We expect the PFS to be completed within 12 months of entering our agreement with Maosen. That is, during March 2013."

Remember this is a magnetite project - not the other DSO stuff. Chinese mills prefer it - lower energy costs - low pollutants. I asked Bob if we will get know the %DTR - the amount of concentrate the ore will produce. We already its low on impurities. If the %DTR is high as I am sure it will this will fly - we got the transport - we got the port we got the product and we got a Chair that likes emails from shareholders. What a set up. Cant wait for next week when the next ann should be released.

Coming back to Tony Locantro I think he is on Your Money your Call tonite. Tues 23/10. talking about Gold I think.