GREY:AUAYF - Post by User
Comment by
maxncompanyon Jan 02, 2005 9:55pm
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Post# 8379469
RE: Some WEX Info
RE: Some WEX InfoGPXM did nothing but go down in 2004, but the JV partner, WEX.V was up big. This is no "fly-by-night" as you called it. WEX.V has had the property for quite some time and JVed it with GPXM back in Feb. 2004 before moly price took off as it has. The NR did not mention ore grade, but elsewhere it is mentioned. The 1,400 tons and the 146,000 tons are 2.9% moly. Another 1.1 million tons grades at 1% moly and 0.125 ozs. Au/ton. They are only waiting on permits at this time. Production 60 days after receipt of permits. Can be put into production for $500,000, as it is high grade and near surface ore. Mostly open pit, with some underground later on. Of the 2 involved, GPXM and WEX.V, I feel WEX.V is the best way to play Ashdown. It has only 10.3 million shares fully diluted and, not immediately, but within a year, could be looking at earnings of $1.00/share. This is not a better moly play than AUA.V. It is simply a completely different way to play moly. WEX.V is a soon to be producer (as early as 1st half of 2005) of a low tonnage, high grade deposit. AUA.V and most other moly plays are currently non-producers of high tonnage, low grade deposits. That's all I had to say. This is the AUA.V board and I won't post anymore on WEX.V here.