Good news for WM investors? The CASH positions of large Gold mining companies in the area of the Fenelon are enormous. One is Kirkland Lake which has $800 million in cash to invest. Another is Newmont, the largest gold miner in the world with something like $1.5 Billion in cash (from memory). To no one's surprise I am sure, I own shares of both so I get their reports.. In the latest publication of KL , the report has the following paragraph-KL has formed a strategic alliance with Newmont, and the report goes on to say " The agreement also includes a commitment by the two companies to work together TO IDENTIFY ADDITIONAL REGIONAL EXPLORATION OPPORTUNITIES AROUND THEIR RESPECTIVE LAND POSITIONS WHERE THEY MAY COOPERATE TO ADVANCE PROJECTS.
These two giant gold companies are telling their shareholders they are ready to invest in nearby projects. Fenelon is certainly nearby KL's Detour and Macassa mines and may be near NEM's mines as well. In addition the CEO of KL sits on WM's BOD. On top of that WM and KL have a JV for what WM calls it's Detour East property.