Your use of the word speculative sums up most aspects of this type of mining stock Merida. Do your research then hope a million and one things go your way if you choose to put your money in. WCN is well thought of but the SP hasn't fully reflected that for several years for longer term holders.
WCN may be able to mine gold from the AuCu project even from within the 150K Oz existing Jorc resource. Not likely but an interesting thought.
[Andyglo offered to ship a small gravity plant over there awhile back but didn't happen. Such a plant would work in Australia but with the complications of international bureaucracy etc etc etc.... I didn't follow the details]
WCN has been spending quite a bit of money on drilling, soil sampling.
The Aucu drilling will finish this quarter with all results in by Christmas or early 2017.
The soil sampling results in WA warrant some drilling but the level of cash reserves will need to be monitored closely IMO.
Q2 cash 1.8M with 0.5M expected burn in Q3 leaves 1.3M to start Q4.....burn of 0.4+M? without any drilling in WA.
Good results from Aucu and IMO expect a CR etc .... The sentiment is positive for WCN.
A WCN sleeper is the Lithium farm out near a very much sort after location near Earl Grey.
Price of gold getting slammed as I type this so tomorrow is likely to be a very bleak day for gold stocks.
No definitive answers for your questions. Research read and ask questions. Don't take the answers too seriously as they are mostly opinions and as such speculative.
DYOR
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Mkt cap ! $34.21M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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4 | 1300000 | 2.2¢ |
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Price($) | Vol. | No. |
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2.1¢ | 1360739 | 8 |
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No. | Vol. | Price($) |
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4 | 1300000 | 0.022 |
3 | 1750087 | 0.021 |
5 | 4349950 | 0.020 |
6 | 3589805 | 0.019 |
8 | 1307775 | 0.018 |
Price($) | Vol. | No. |
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0.021 | 1360739 | 8 |
0.022 | 3327350 | 5 |
0.023 | 2436956 | 4 |
0.024 | 2261213 | 6 |
0.025 | 1859673 | 4 |
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