Bellzone: 21.48 million GBP (apprx $39.47 million Cdn) 782 million shares outstanding
Sable Mining: 70.39 GBP (apprx $129.35 million Cdn) 1.1 billion shares outstanding
WAI: $3.5 million Cdn market cap 176 million shares outstanding
If Bellzone is the low range and Sable is the high, clearly WAI is undervalued. Bellzone and Sable are further along than WAI in terms of the resource report being announced and more financing in place. Once WAI issues the next NR and provides a financing update of some kind (JV, etc), if WAI achieved an equivalent market cap of Bellzone, WAI would be at apprx 20 cents (+).
$0.20 cents for WAI with the current float is possible - this is with ore grade comparable to Bellzone - Bellzone's ore is average/low end grade. Even if any dilution occurs for whatever reason in the future, the return on WAI from it's current 2 cent level will be
HUGE ! 