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6.3¢ white rock minerals limited

no need to be snooty, im not the one mentioning profits when...

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nugget_hunter

399 Posts.

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15/03/23

13:19

Post #: 66777815
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Originally posted by Chicarno88: ↑

Thanks for your pearls of experience

You are right these are red flags and risks

However the average head grade at Woods Point Morning Star is 11g/Mt

The mill can run at 9Mt/hr

So 99g/hr recovered @ 10hrs a day = 1kg or $88,000 revenue

5 days a week $440,000

Or ~AUD22M/ annum

Staff and Admin Costs of AUD$8M, plus further development... $3M-5M

I view WRM as a real estate investment

Put simply they have collectively USD$6 billion in JORC actual, and or inferred resources across 3 mining areas in two tier 1 jurisdictions.

Its not a WA Sandpit aka circa Kalgoorlie mine, so yes the inital costs for mine preparation are not a ABC123 hole in the sandpit approach

This is deep shaft, quartz vein mining as you can appreciate

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no need to be snooty, im not the one mentioning profits when they were 2.5M in the red last qtr!

dont hold your breath for the mill to run 50 hours a week

Real estate may be the only way to view it, as it certainly hasnt proven to be a money maker.

Good luck to ya mate

WRM Price at posting: 6.3¢ Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

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