Western Copper and Gold Corp WRN

Sandeep call

[Sooner]

I have a call with Sandeep Singh today - 2:30 EST to discuss some of my concerns:

1) We've previously been told once (maybe twice) that we had enough cash to get thru permitting. Now do we FINALLY have enough cash to get that done??? 
2) Why do we need $25M now ---- Sandeep can you imagine how much higher our market cap and share price today would be (for example) if we only had $10M in cash and took that other $20M and bought back $20M of stock over the next 2 months? Point being --- excess cash in bank does very little to drive market cap. 
3) Explain how can the stock go down 7.5% when gold and silver and copper all up big yesterday ....and then after market close we hear about 7.5% dilution? How is this possible?
4) Can you help explain to me the fact that we have $125B metal resource and we are trading at 0.2% of that. Or alternatively trading at < 5% of PV of FS --- which is only 1/3 of the resource? What are you doing to drive marketing and investor excitment in the project?
5) What are we doing to drive compettive tension to Rio? We've been asking that for like 2 years now.
6) Many shareholders are getting worn down by the year after year after year of languishing share price. We are still waiting on Dale's bold predictoin about 3 years ago that Rio has very little DD left and he expected something to happen well within the 1st deadline!


Please send me any other questions you have for my informal 30 minute call with Sandeep this afternoon. 

I will say this, i'm giving Sandeep an A+ for responsiveness. I sent email last night at 6PM and he responded by 10PM and had an invite on my calendar by 11PM.

[Marine2]

Sooner I especially like these two questions,, ( Can you help explain to me the fact that we have $125B metal resource and we are trading at 0.2% of that.) 5) What are we doing to drive compettive tension to Rio? We've been asking that for like 2 years now. One new quwstion, How can you  (Sandeep) break this stranglehold Rio has on WRN with their 9.8% ownership,, This is a real

[StandingOwl]

A question I have is, Paul did mention that they are looking to buy another sight or Junior Miner to take over. Is that in the mix?

[Caper18]

As I posted previuosly this a possiblity as well WRN spinning off.

[CopperAndGold14]

I want to know the specific road construction tasks that will be completed this construction season. Need that road!

[jclarke042]

Same with the Skagway Port - what's the latest here?

[MetalMinded]

Thanks Sooner!  Appreciate you doing this.  You may state that at least one other mid sized investor shares these questions.  I am aure many more in this board, but I can't speak for them.   I am also concerned that some in the market may have known the info about dilution before it was publicly shared.  I can find no other explanation for the market day drop

[Sooner]

Thanks guys for all the questoins - i only have 30 mins so will ask as many as i can. This one here is going to be at the top of my list ---- meaning i beleive that this is considered insider trading for people to trade on information like this $25M offering AHEAD of news release. I'm not too thrilled with this to be honest and will press Sandeep on his thoughts on the matter for sure.

[Pinegrove1]

I'd like to know why they didn't raise cash when they needed it. Likely our SP will be alot higher as we move through permitting and the same size raise would take less shares and dilution than a raise at $1.95. Unless of course they need the cash now and if so I'd like to know what they need it for. Acquisition??

[Asdfghjk]

Has there been any news around the 13million plus shares sold for 32 million? I got an email from Simply Wallstreet. I knew we did the 25 million, but nothing pertaining to the 32 million. Any information would be great. Ty Sooner for going the extra mile. As always great questions. I look forward to the answers.GLTA

[EvenSteven27]

Appreciate everything, Sooner. If you get the time, of course, can you ask about the grid. Know that's more at the government level, but it does effect us. Thanks! 

[Sooner]

So unfortunately it was a quick 30 mins --- haha. Could have talked longer but he had another call. Here's some notes- 1) Do not draw too much conculsion on the size of the offering and it being anything more than used for permitting --- he mentioned no interest in Minto and only interested in Coffee more so from a curious observer and who will be new neighbor. He did mention that whoever

[IvanRo]

Thanks Sooner. Although not sure I understand Sandeeps logic on this raise increasing the SP in the intermediate term.

[Sooner]

i got the impression from him that the time is never right...but with Eight Capital recent buying taking price up...he thought the time was right. He also gave the indication (or perhaps maybe "hope" is better term) that Eight Capital would continue buying and that they woudl also initiate coverage....at least that's the impression i got. Sounded to me like Sandeep was going to

[StandingOwl]

Thank you for your time and effort. So what is your take on this. Positive, not so much, hunker down...?

[Sooner]

Overall --- i'm cautiously optimistic: Unfortunately Sandeep wasn't a part of the team though so he wasn't able to provide alot of insight into prior commitments (permitting/cash to get done, etc).  He totally understood my frustration on all that --- and with prior management (Dale) bold statement way back 3 yaers ago about Rio having very little DD left, expeciting an offer for

[jclarke042]

Mentioned currently at 15% NAV and getting thru permitting should increase it to 30%-60%. Clearly he was using NAV of FS --- not spot. This needs to be repeated often. Using spot prices to determine NAV/NPV is beyond delusional. Look no further than the 2 year lithium price, down 80%. https://www.dailymetalprice.com/metalpricecharts.php?c=li&u=kg&d=240 Similar action in the copper

[Sooner]

yeah Clark - Sandeep specifically mentioned --- if we see Gold LONG TERM stay above $2000 and we see Copper LONG TERM above $4.....then that should drive share price. He for sure mentioned CYCLES in my call.... I got the impression though from Sandeep that he is a strong believer in Casino...put his money where his mouth is....likely had other options after Osiko but he CHOSE WRN and put a

[Heywood_Silvers]

Please remember, lithium is NOT a monetary metal and will not be backing currencies at any time in the future - big point of difference. If you're a copper proponent, then the future in general looks bright also due to the shift to electrification, cleaner energy, etc. Granted, spot price is by its very definition transient.  However, anyone who thinks the long term prices of gold will

[Oakie1]

Sooner, Thanks for making the call and sharing the results with the rest of us. I don't believe for one minute the $40MM raise is for further drilling or metallurgical work (beyond what was already promised to MM. If Steven thought the $25MM was sending a message, raising it to $40MM is even a stronger message. If we or someone else were to buy Coffee, that would even be a stronger message to

[MetalMinded]

Interesting on the amount to get through permitting.  If I recall properly, we've been told at least three times before the last three raises that's "we have enough to get through permitting".