Steve's not an exploration manager nor Geo, but he's a good mining guy. Nicolsons was sold to KMG for $8m, the plant was originally from Palm Springs and was moved in the 2000's. If there is no more gold at Nicolsons, then its time to move the plant back to its original home and start producing gold bars. Low cost start up, dont blow yourself up like BGL promising too much to the market. If we can do 20koz in the first year 30koz in the second and 40koz steady state for 2-3 years thereafter it would give us a good platform for growth and leverage into other assets or regional expansion. PNR started out as a $10m market cap in 2015 and is now pushing $1b. Albeit they have diluted the absolute s*** out of shareholders, it’s not a bad model for growth with a few tweeks.
On the next raise (And hopefully its to go into production), I want to see Steve put his own money into the project, at least ~$500k-$1m to show investors he has skin the game. I guarantee you he'll be down there on the air leg if the incentivisation is right... He's made enough money in his career to start to have a crack with a cornerstone equity position, if he doesn't, then I would be very cautious of further cap raises and will likely go the way of the previous company with this same ticker...
WIN Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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