In the West Australian Newspaper 22 January 2024 Article:
Lithium meltdown puts Wesfarmers’ Mt Holland start-up under scrutiny.
So per the WES Scheme Booklet to acquire Mt Holland from Kidman Resources it states that WES own 100% of the gold rights in Mt Holland Project some 1,200,000 million ounces of gold with further gold potential.
As at 23 January 2024 gold is trading at AUD$3,079 per ounce and WES is not acting in the best interests of shareholders and developing this significant gold asset in the Mt Holland Project area.
To generate shareholder wealth and value WES could as the easiest option toll treat the gold ore at Barto Mine some 70 km away and or do a deal with Ramelius Resources to truck gold ore to there facility, either is a real option available.
So the real questions is why isn't WES developing / toll treating or other this significant gold resource which could off set significant lithium costs incurred to date in the benefit of shareholders ?
I believe WES should get on with it and develop the gold whilst this lithium situation -80% in value continues.
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