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sainters

190 Posts.

45

02/12/21

20:51

Post #: 58035760
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Originally posted by shan97: ↑

Hi,

The know the stock has been down a lot... but the sector is down almost by an equal degree.

I think WRM is one of the best exploration stories out there.

1. Near term cash flows - the JV with Thompson should start generating about $5M annually in about 3-4 years time. The Woodspoint assuming they can hit 10gpt which should not be an issue, should also generate about $5 to $10M annually in about 1-2 years time. For a M.Cap of 30M, even from a cash flow perspective its very very cheap.

2. Red Mountain - This is a massive deposit. 9MT at 600gpt Ag Eq. Means about 180MOz Ag Eq JORC compliant resource. And its open and the deeper holes drilled earlier this year (and these are not part of the above JORC resource) had better grades. I wouldn't in the least be surprised if we surpass 500 MOz by 2023. That alone will put the value at about $250M dollars (at $0.5/oz valuation)... and if silver prices go up and they are very likely to, this alone could give us a 10-bagger at WRM.

3. Last Chance as well as Victorian Gold Fields... these are very highly prospective grounds and though very early days we are practically getting these for free.

I think the Stock should trade well over $2 AUD by end 2023. Two drill seasons at Alaska and we should be able to ramp up the resources really well at RM as well as build a good story at LC

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Shan, $2 by 2023.
If I buy heaps now will you promise me to pay me $2 per share in 2 years time.
read and learn from the posters after you. Aurifice, jimbill, mattydew etc

WRM Price at posting: 31.0¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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Valuations, page-5

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