RE:RE:To KWG management ...........................GENM got a decent streaming agreement (critical financing to move ahead).
At the time of the Noront bunfight the same deal for Noront's AU, Ag, Pt, Pd on the eagle's nest would have netted $2.1 billion to finance development AND, would have left the Cu and Ni completely unencumbered.
The Twiggster made off like a bandit due to the fact he obtained a large interest, very cheaply, from RCS and then was able to out-bid BHP due to the sizable cheap stake he had in hand. Noront shareholders were absolutely HOSED. Although the final bid valued the company at a bit over $600MM, his actual price paid was around $430MM plus later having to write a cheque to FNV to clear off their loan.
The In-situ value of Noront was somewhere around 40 Billion, recognising that Black Thor will never be an open pit situation like Cliffs had imagined it.
My thoughts on KWG is that the MT Survey suggests that Black Horse will ultimately wind up with 2 to 2.5 times present estimates based on overlaying the 43-101 drill results on to the MT Survey.
The new target north of Black Horse, which is postulated be the underside of the Black Thor deposit after being fault sheared, should be a similar multiple to Black Horse being the bottom portion of the Big Daddy deposit.
If Big Daddy's 30MMT top leads to Black Horse with 200MMT+, How large will the 140MMT Black Thor's bottom be if the approximate 6:1 ratio holds?
The grade of the resource and lack of contaminants suggests that it could command near-turkish-lumpy pricing, which would be better than $USD300/tonne.
Politically, the Province and the FNs appear to be making progress and virtually all the assessment work flows along KWGs transportation corridor and is near completion.
Something will happen in due course... stake your bet, play the game, and let the chips fall where they may. You can't lose if yoou don't play, but you'll never win either.