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20.5¢ wiluna mining corporation limited.

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Tonkin

419 Posts.

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12/08/18

07:55

Post #: 34880709
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Originally posted by Drugo ↑

I think the share price/mkt cap will remain where it is if the options are not exercised.
The market has valued BLK as a marginal 70-80K oz producer.
The blue sky of plant upgrade and money needed to do so and also share dilution may prove an IRR a lot less than what management thinks.
Best case scenario they PROVE up more reserves, keep AISC @ $1250. This would reduce debt significantly. Options not exercised and someone might have a go and take over the project.
I think if the options were exercised, management would take on more debt and blow up the entire project. They cannot control costs.

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So on the strength of your comments are you hanging on? And if so for how long? - like you we have a sizeable interest in this project. How I wished we had sold at 10c. Can't see it getting back there unless gold price takes off and drags small gold miners along for the ride.

BLK Price at posting: 4.6¢ Sentiment: Hold Disclosure: Held
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