Nevada’s highest grade gold/silver play In 2023 at $2,000 gold prices $WEX.v hit a high that year or $85m market cap.
Today the gold price is $2800 and the market cap is still just $63m.
Drilling has successfully stepped out their high grade underground deposit several times since then. Proving it extends by 160m north east and 80m north. Soon drill results may prove another 80m step out to the south east, as well as another 80m step out to the north east.
On top of all that's occurring at Gravel Creek, Nevada's highest grade advanced exploration gold silver project. Doby George, the from surface, zero strip heap leach oxide deposit on the property is now funded to move through PFS.
This will be a large milestone for the company. It will allow them to for the first time ever show what a mining scenario would look like at Doby George. I believe they will also update the resource estimate as well.
I think $WEX is trading like it just has one active project under exploration. Thats not the case. The PFS is funded at Doby George. This is a company with a near term production asset capable of very low capex, very low AISC open pit, zero strip, heap leach at top quartile grades in Nevada for this line type. As well as a blue sky potential, bonanza grade gold silver exploration deposit that just continues to enlarge itself.
Given all of the above. I am still buying on market with a goal to get to 300,000 shares and I won't even consider sell squat until we see $150m - $300m market cap.
USA listed gold juniors are off and running. Just check out $AUST.us. Both companies are nearly worth the same and the assets comparatively aren't even close. Tells me Western still has a boat load of gains to be made!!
Morgan Stanley Managing Director's fund took down $1.7m last month. We all know how important Morgan Stanley is to precious metals markets. Huge signal they are going to let USD prices run wild!!