By my calculations WC1 current net tangible assets are valued at AUD$0.1339/ share (based on the 95,553,554 shares outstanding).
If we include the total outstanding plus options in escrow we get; $13,009,762 current equity plus $5,180,500 through raising further options divided by the 116,233,554 fully diluted shares = NTA $0.156/ share.
Considerations are obvious; what is the company burn rate per quarter to retain there tenements/ claims? Staff/ Admin costs and other costs pertaining to drilling?
If WC1 chew through $6M in the next year drilling, will the JORC estimated resources be a x 1, x3, x10, x 100 return on assets in situ?
Being conservative, sub $0.13/ share looks appealing to me.
Consideration (AUD$) 1 Outstanding Shares 95,533,554 2 Options 9,500,000 $0.250 $2,375,000.00 3 3,500,000 $0.250 $875,000.00 4 1,000,000 $0.200 $200,000.00 5 1,000,000 $0.215 $215,000.00 6 1,000,000 $0.230 $230,000.00 7 2,400,000 $0.320 $768,000.00 8 2,300,000 $0.225 $517,500.00 9 Total Shares 116,233,554 $5,180,500.00
This does not take into account any in situ REE @ Salazar, and potential Lithium @ NT, and Nevada.
Also does not take into account potential JORC estimates @ Bulla Park, Cawkers, Nantilla, Mt Jack, Hermit Hill and Nevada
This is why I continue to accumulate
Financial Data Presented are my own personal opinions, and does not constitute financial advice, contract and or promissory estoppel.
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