Western Copper and Gold Corp T.WRN

MSD Podcast

[jclarke042]

Start at 49 min for Paul's latest with Trevor

https://anchor.fm/mining-stock-daily/episodes/Battery-Metal-Supply-Chains-in-a-De-Globalized-Economy-e1gt48r

[GardenManman]

"18 months agreement, now just 1 year," "let's see summer, some cleaning up work to do" does that means final decision amybe come at the end of 2022? Host expect a sudden "halt' happen.

[Moneymann]

My read is that soon we will know .. Rio has to put an offer . What Rio has done nothing but proving what Western already did .. what a wasted year .  We could have drillied our Canadian creek , we may have found another coffee or casino .. i am not comfortable with them  Dear Paul  please drill cad creek  dont waste time drilling Casino pit  talk to Newmont 

[Pinegrove]

I agree that Paul doesn't seem too excited about Rio in this interview.  In prior interviews he kept talking about sitting down with Rio & next steps & should have an announcement.  Now he's talking about further developing the resource and the district and advancing permitting.  Seemed more cool to the Rio deal.  

[jclarke042]

Could be a spin-off is in the cards. Listen again, he didn't talk about making CASINO bigger. Maybe we're selling off this mine plan (including phase II), and we keep rest of the land package, a la the Western Silver spinoff. He mentioned the total land package more than once. It's difficult listening to these. There's only so much he can say, and it's hard not to parse every

[Sooner]

Yes - that was strange...but even stranger would be why would a major only want to acquire the cure asset and not surrounding land and continue exploring that over time. If we do have another Coffee type project somewhere in the land package...then Rio would end up paying premium for that in the future. Perhaps the issue is Rio doesn't want to pay for the surrounding land with anything close

[dfwrgk]

Sooner and others, can you imagine a deal made where we somehow kept the property next to Coffee? And an acquirer bought the rest of the WRN asset?  If so, how would that work?  A spin-off company?  And WRN shareholder also were paid a dollar amount per share... or am I misunderstanding what you all were contemplating?   Paul's recent interview was definitely noticeably

[Sooner]

Yeah - I think that's what happened with Western Silver. They sold Pensaquito and spun out new entity Western Copper.  I can't see that happening here though- I mean why would acquirer not want the entire WRN land package?  Makes sense of course if WRN had addl properties elsewhere- but this would be kind of strange I think 

[dfwrgk]

Yes I sort of understood that last acquisition next to the Coffee project to be a checkmate-move for WRN. Why would someone buying WRN not want it. But perhaps that property would be of interest to Newmont and the rest to Rio. I'd certainly prefer a simple cash offer... I suppose our best offer won't necessarily be simple. But I hope. 

[Sooner]

Yeah - I'm not too learned up on the value of Canadian Creek property to whomever develops Casino or value to Coffee in terms of logistics synergies etc.... but the value to WRN after Casino sold seems far less than to the other 2 entities....unless we were to find another coffee type project on that land.... again though as I've stated before, a 2nd grader would have been smart enough

[jclarke042]

I'm wondering if some of our Western Silver alumni can give us context on how their shares converted into the new WRN after Penasquito sold.

[Marine2]

Glamis Gold and Western Silver Corp. strike $1.2B deal Social Sharing Facebook LinkedIn Twitter Email Reddit CBC News ·  Posted: Feb 24, 2006 9:30 AM ET | Last Updated: February 24, 2006

[jclarke042]

Thanks Marine. Ok so if Rio buys Casino plan, we'd theoretically get X shares of Rio per one WRN; then also 1 (or whatever fraction) of a share in a new Exploration co. We also have around $40m US, could easily shift some into a new Exploreco.  Gotta say, I don't hate this idea. 

[Moneymann]

That's why they stopped drilling .. boy this board is now talking . Paul was upbeat about ANA then sudden they hit nothing .. 

[blueboron99]

dfwrgk, Is there something to be said about this highlighted statement when the Cariboo Rose - Canadian Creek  property and WRN land purchase deal closed. To me it appears Newmont wanted direct access from Casino to the Coffee project where their infrastucture will be located. Was the land purchase by WRN also a strategic move to accomodate Newmont at a later date after licensing was

[dfwrgk]

I do recall when WRN made that purchase, the control of the access was mentioned and somewhat of a surprise that we somehow pulled a "fast-one" over others who might have also wanted that property. We timed-it right... why I said a checkmate move... whatever their motive, it should be good ground too...  I'm not sure about accommodating others such as Newmont. We were

[GardenManman]

sometimes, we don't know Paul's real intend and target audience, maybe he share the information to shareholders , maybe he want to send the message to Rio/Newmont for bargain. Anyway, I will wait for the end of the May, then make decisions for my position.

[Pinegrove]

I think there is an interview with Crux this week.  I enjoy these the best as they put pressure on Paul to provide concrete answers, not just dance around the question.  Paul wouldn't take the interview if he was in a position where he didn't want certain questions asked of him due to the sensitive timing on the RIO deal.  Should be an interesting one.....

[Sooner]

Blue - bold (but logical prediction). All along the obvious choice would be a combined Casino/ Coffee asset in combo with any other minerals found between the Newmont WRN land.  I think many of us thought and still believe that ...but waited for so long to get official word of negotiations with Newmont. should be exciting to see how it plays out! 

[blueboron99]

Sooner, appears Newmont is in no hurry to enter into the partnership with WRN quite yet. Firstly, I think Newmont wanted to know if YESAB was going to approve the Coffee project and they have recently announced the approval, so that box is checked off. The reality of it, Newmont has 7 months until Nov/22 before RT & WRN discussions/talks/negotiations for Casino are concluded. After

[Moneymann]

Newmont has to go thru waterboard for another 2 years . What a waste and cost them already millions since 2016 . They need Casino , immense cost of coffee , acquisition + permitting + drilling + administration + building .. immense guys , those who are in Yukon have say about permitting have no mercy . Self detrimental.. don't want talk about energy infrastructure and energy .

[Moneymann]

In this respect , Paul is remarkable trying to move this giant deposit. Against all the odds 

[Pinegrove]

... Or he could just be showing indifference to Rio to encourage them.  Maybe playing them against a possible other interested party (NEM).  The good news is that we will know soon and I'm interested to see what impact a favorable Feasability Study will have on the share price.  I'm not too interested in them going back with a big drill program.  It's done, It's

[Arrowhead77]

Yes Pinegrove As posted earlier "If it were done, when 'tis done, 'twere well it were done quickly" (Shakespeare-"Macbeth")

[Moneymann]

Pure speculation but it seems Rio is not ready to pay asked amount . if this so called giant can not get the perfect mix of gold, copper and Moly .. each it's own so valuable and open to west , east and down deep . Sorry  Russian Ruble survived because of its gold , they sell oil to India , China , they get paid in gold . Whole world scared from dollar is turning into alternative like

[jclarke042]

We don't need them to take full land package. We only need Rio to buy THIS mine plan. As I understand, even the 5+ decades didn't cover all of WRN's claims, right? On the other side of Paul's seeming indifference is they know RIO is only considering what's in the PEA/FS. This plan is NPV 1.8b; sell it, and keep Canadian Creek etc, until NEM realizes what time it is.