RE:What do you think of Kiena productionFor me the biggest issue was lack of transparency. WDO should have been more clear on the procurement delays of needed mining equipment. The share price would not have risen so high, so fast, and now we have PIZZED off shareholders who bought at higher prices, share dumping, opportunist shorters driving it lower, etc. Never a good situation and they should fire the entire PR department....
The long delays in getting the necessary equipment like the paste fill plant, underground equipment, trucks, drill rigs, roof bolters, etc, has been resolved and are all being used right now.
Ore body is vertical with the thinner zones on top and lower grade (123 Level)
- Lower down there is significantly greater volume and much higher grades
- The lower the ramp goes the higher the grades become with more volume to mine with the honey pot starting at the 129 level in about 12 months
- Takeaway... as the year moves forward the grade and volume will get better
It sucks that there were delays but the same issues at WDO I've personally experienced in other industries due to Covid. Supply chains were messed up everywhere. Again, WDO now has everything they need and are progressing.
To sum up. I see this as a way oversold bottom. Things are moving forward now just as Duncan has had planned on doing quite some time ago. It is possible that offers come in but Morley-Jepson said they would need to be serious as WDO feels they are way undervalued. I hope that WDO does not get bought out because once they get to the 129 level it is going to be sweet. If bought out it will not be for 6 bucks.
All IMHO
GB