RE:LinkBrankolnvests,
Thanks for the VRIC Wagner link. I just viewed it again to make some notes and take-away points. Most of them are presented in Corp Presentation or NRs, but it's good to hear from the CEO who seems to have an attachment to Ni. That's fine, but he may need to put the focus on Au with the cash he has (some $8-9M) which would be good enough for perhaps 10,000m drilling by spending 3-4M drilling for Au (compared to 100,000 -120000m drilling on the other side with a budget of about $32M (WM has over 50M in cash)
- Brief and to the point. Wagner said it and I agreed with his assessment.
- land holding is huge/enormous, 80% of the Sunday Lake Deformation Zone (SLDZ). 100km stretch, surrounding WM area 51 (WM need more land, even cow pasture would be fine for trucks to run around).
- Internal inventory of 2.5Moz among the 4 projects. Presumably he was talking about AuEq. (Note: One of the project Matiniere/Bug Lake has a decent RE, but it's still limited to about 350m depth?). They have not include the lower portion and still open at depth. This is also quite close (open pitable) to Detour.
-They have finished the geo-physical survey. Results to be released soon
- Drilling min 5000m begins Feb (tomorrow is 1 Feb, so expect some kind of announcement).
- Ripley zone discovery (consistent with the mag-low info published by WM). Gold is not magnetic. They should perhaps do some gravity survey to differentiate between Au (19.3) and Ni (8.9). If they have mag-low coincident with high-gravity/density, then bingo.
- WM has 400 holes, compared to BAR 13 holes. Not sure what this means?
- Wagner seems to go after high-grades (more sensational to the market?). But he should poke some hole in the area 50 as well to get some potential near surface OP along with drilling around area 52.
- Market Cap was $60M during VRIC, but now it's up to about $80M (compared to WM Market Cap of ~$540M). A potential suitor may need to decide quickly, at least to get a toe hold in the play, to do something about the situation. My guess would be KL would use WM as a proxy to get some kind of a deal with BAR, at least a JV to drill around area 51.
- The geos on both sides, including KL and ES would know how to read survey results, published or non-published, or even privately obtained.
GH11
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BrankoInvests wrote: https://www.youtube.com/watch?v=VvtcSh5s7as