Zombie Cos vs WGI have looked at over 30 cos this morning that have nothing, no hope and no future. Despite having the market at all time lows (or just off) there isn't much light at the end of the tunnel even for companys with millions of ounces of gold.
SEA-KSM with a market cap 400 million of got approval to build their mine but no one knows where they will come up with 3.5 billion to mine relatively low grade ore. Their rock value is .67gpt au and .17 copper which is .9gpt AUEq. We have more than twice the grade (metallurgy is somewhat better for KSM) plus highgrade starter pit.
PVG- Pretium BruceJack- 7 million OZ of Reserve at 17gpt/AU underground high cost market cap of 700 Million (35% of NPV).
WG is bigger than both of these projects for total metal value, has much higher grades than KSM and has a much smaller market capitalization.
As for companies with "lousy" projects there are hundreds of them! No interest whatsover in buying these companies as there share price languishes in the pennies. No money for salaries, no hope for getting cash at these prices. A great time for a fine tooth comb to get some bargains, but I can't find a better one than WG in this sector.
Have a great new year and thanks for the class on this board!