Western Copper and Gold Corp T.WRN

Not bad

[Diamondboy123]

Bounced off the lows nicely.  Some good news would be nice. Let's see what tomorrow portends.

[jclarke042]

Yes it would, these lower volume days are killer for us. And for the record, I fully agree with Metalhead here, this "PEA is basically done just a few i's to dot" nonsense is maddening. Almost as if they're waiting on something else to announce with the PEA. 

[Diamondboy123]

Clarke I've been saying that all along. Bloody communication skills suck ie management. Rio probably jabbing dale with lowered spot price.  

[metalhead666]

It is nonsense as is the 18 months for RIO to make up its mind and 12 months more if they like.  Seeing as they've been involved for months already this timeframe is stupid.  Go up there, give a bunch of shares to the natives, build a school and hospital, pay off some regulators and start digging.  Doesn't need 2 1/2 more years if anyone was serious.  If any other major

[jclarke042]

All I'd say to the "noone is accumulating" piece is - if anyone approached Western interested in even initial discussions, I'm sure there would be some Standstill agreement signed. Meaning, that interested party couldn't just then go by shares on the open market. They'd have access to non-public information, all that stuff. Right? Rio signed an NDA 19 months ago now, and

[Diamondboy123]

Clarke metal is just wrong.  For eg I bought early on above the close.  I also started buying at 2.79 upwards.  I was not alone.  How did it get from 2.79 to 2.86 pigs wings?  

[metalhead666]

In my investing career I've had a dozen or more companies I've owned taken over....none was this convoluted. I woke up the next day and the shares were up and news out....and that was that.  One risk no one has brought up is that WRN management outsmarts themselves. By playing hard to get and structuring these complicated arraingements they might find everyone who could be interested

[Heywood_Silvers]

Metal, you keep bringing up the point that IF a deal isn't ultimately stuck that WRN is worthless moose pasture.  How many gold projects worldwide have more delineated gold ounces in the ground than does WRN. If a suitor wanted to walk away from WRN, there are maybe one or two other options of comparable size maybe?  The truth is, the majors need WRN more than we need them. 

[MetalMinded]

Small "metal" is one of the following, no possibility of anything else. 1) short seller, 2) day trader, 3) troll.  

[metalhead666]

I definitely am in "reality" ....I'm looking at all the angles not just the ones I wish for.  The "buyer" is always in control. It doesn't matter how much metal is in the ground if the cost to get it is too high. I'm in no way saying that Casinio isn't a worthwhile project only disagreeing with you all on what someone is going to pay for it.  WRN

[Sooner]

Facts please - tell us how you know PEA is going to show a "much more expensive" in terms of capex? I mean how do you know that it is going to go from $2.5B to $2.7B or $3.5B or ???? Just puffery is all that is...you have no direct knowledge of the "puts and takes" on this subject as Paul put it in one of his interviews. Anyway what would you consider to be "much more

[metalhead666]

Go read the press releases of any mine that made a construction decision in the last year or so and is in the process. Start with Ascot a gold mine in BC.....25% cost over run in a year citing specifically steel, shipping, machines etc.  Casino costs will be even higher given its remote location.  If you insult me again I won't help you anymore. 

[metalhead666]

20% increase in less than a year.... https://stockhouse.com/companies/bullboard/t.aot/ascot-resources-ltd?postid=32824141

[Sooner]

And most likely said resource economics still look favorable based upon current metal prices. So I suppose you would prefer metals crash so the capex is lower? Is that what you would rather have? Once again , I'll ask you what is Rio return they are getting on the $10B cash they have on hand now and how does that compare to a $3B capex (I added 25% per your recommendation) and a $1B purchase

[metalhead666]

We are not at odds here except on the price Rio will offer.  I maintain that they are in control not WRN.  WRN needs Rio more than Rio needs WRN so it only makes sense that they would offer as little as possible. It would be irresponsible of them not to.  Has nothing to do with "fair" or playing nice. Every business buying another business trys for as low a price as

[Sooner]

once again i say, we are not getting purchased today. Perhaps it's 4 months out and in that time a 40% premium to share price could very easily be $6-$10. Do you know for a fact that Rio is not helping Casino and they are partnering to get this to a win:win situation....or do you not believe in win:win and think it's a zero sum game....one winner and one loser? NEM generated $1B per

[metalhead666]

Why would WRN go up that much in the next 4 months?  More likely that the market tanks, copper pulls back and all stocks including WRN are lower in 4 months.

[Visi0n]

My friend, if you whole thesis is that the market will for sure be lower over the next few months you should stop wasting your time on the WRN board, cash out on all your stock investments and buy SPY Puts or UVXY Calls. Your conviction in general market direction tells me you know little about markets. There is only 1 truth about markets which is NO ONE knows which direction it's going to go

[metalhead666]

We all make calls every day. I've been doing this for more than 40 years.

[Visi0n]

Ok. Thanks for clarifying. Your personal view on the general market really adds no value and means nothing to us. Based on your view, you shouldn't be wasting too much time on this board. There are much better investment vehicles to express a bearish view. Options are the best. It would save you time, also ours as your general bearish comments really adds no value to our discussion here

[metalhead666]

I'm not your friend, I'll post what when and where I like. F'off

[Visi0n]

Haha, don't get emotional. I was just giving you advice that I thought could help you.

[Sooner]

For anyone who didn't listen to Dale immediately after the announcement please listen. Pretty clear they are going to work out an agreement that satisfies both parties and he expects a buyout and for it to happen much sooner tha. 18 months since they already have studied the project in detail and believe it fits their objectives. I believe that means Rio wants to diversify into copper and gold

[Diamondboy123]

Sooner your alright. 

[EmptyNester]

I've really enjoyed reading the theories from both sides as to what WRN will sell for. I'm no expert when it comes to M&A, but what are the chances that everybody is right to a certain degree? WRN and RT signed a CA last year, and word of it never got out. WRN went through more studies late last year with M3 and have drilled more holes. If I'm understanding the timeline here, I

[metalhead666]

I'll tell you this...a major mining concern making a major acquisition doesn't care what todays metal prices are. They care about decades worth of prices knowing full well the cyclical nature of commodities.  Go look at a chart of gold from 2008 to the present. A mining company has to know that chart by heart and not care what the price is now..they have to think in decades 

[Sooner]

Good point. Much smarter people than you or I are making very positive predictions about copper prices over next decade...and I'd be willing to bet in 50 years time copper prices will obviously be many multiple times higher than today....yes I really peaks and troughs over time.... in NPV calc (I believe) the metal prices for year 50 use same metal prices as year 1...is that correct? Are you

[MetalMinded]

Sooner, you are doing a good job of fighting the FUD man!.  Dumboy and Methhead are just here spreading FUD (Fear Uncertainty and Doubt).  We only need to ask why?  My belief is that Methead is just a day trader who isnt getting the action they want so they are hoping to create more price movement.  DB is either a troll or short seller, can't figure out which just yet. 

[Sooner]

I know - i just like being argumentative ---- 

[Sooner]

Cash balance of majors the highest since 2013 and generating very large cash flows based upon existing metal prices.  so i ask the question 'what are they going to do with all the cash they are generating' ?  not all investors appreciate paying out dividends , some want GROWTH....or at least a good balance of the 2!  Share repurchases? Sure - that's an option. Paying

[jclarke042]

You're on to something here. The CA was signed (now) 19 months ago, so November 2019. If I recall, it was around that time Paul casually mentioned in one of his presentations "maybe a little drilling next year, and we might update that FS. It's getting old now."  RIO came back to WRN wanting to talk deal (now 7) months ago (December 2020). Dale narrows down his ask, and per