WFE 0.00% 2.4¢ winmar resources limited

We are in the end game now, page-48

  1. 2,722 Posts.
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    I guess it's to be expected you have a "negative" differing opinion to the company about short term and ore grades. If you think 0.5% is high grade from DRC then you are completely taking the p!ss. You might get away with 0.5% as high grade is Australia, not in DRC. Please spare us the BS about Glencore's grades again!! rolleyes.png Glencore mine for copper and definitely don't chase the cobalt rich veins like artisinal miners do


    Besides there's no point announcing such information as ore supply arrangements when the prospectus is close to issue (refer to last company announcement about progress) when in fact the company is in suspension anyway. All of which I'm sure you know very well!! I do understand your frustration though 


    As far as splitting hairs about terminology of what "short term" is? What you call short is irrelevant, when they announce supply contracts we will know what's been arranged. Besides this has all been discussed at length and I believe the full form prospectus will encompass all the finer details such as ore supply and quality. All in all the timeline is secondary as long as they achieve re-compliance and start production with the volume/grade of ore the company seeks for early production purposes. biggrin.png


    We must remember that under the terms of acquisitions WFE is permitted to perform due diligence. That may include sourcing and testing the quality of the ore from proposed suppliers to ensure it meets the companies expectations. Due diligence can also be testing the processing plant equipment and functionality with actual ore, such as the ore from these proposed suppliers 


    They have had plenty of time to source the right high grade ore and 2-3% is not so uncommon in DRC from artisinal miners. The Chinese and Indians have been getting that quality for quite some time and DRC is quite a big place for plenty of these artisinal miner types!

 
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