1 million ouces Pt and counting?If you look at the historical resource estimate of 50 million tonnes at 0.56 g/t Pt at Wellgreen, you get darn close to 1 million ounces with out counting any of the copper, nickel, palladium, or gold.
From what I've seen, the Wellgreen results are comparable to (if not better than) results out of the Duluth complex -- the main difference being that Duluth is often farrrr deeper than any of the Wellgreen results. With the kind of intercepts they've pulled out of Wellgreen, I don't find it too hard to believe that 50 million tonnes is do-able (a la the historical resource estimate), maybe more.
Just an abservation, and clearly based on pre 43-101 numbers, but that's why I bought in when this first popped onto the radar a few months back.
I like the fundamentals for PGEs in North America... supply is massively over-concentrated in South Africa and Zimbabwe, both of which have political and labour problems which I think make global PGE projects more attractive for the major PGE producers. Does Wellgreen have the goods? Not sure. But with a $25-30 million market cap I don't feel like it's ahead of itself. At $1.25-$1.50 I might re-evaluate, but for me the potential is worth the spec right now.
JMHO.