Western Copper and Gold Corp T.WRN

Keep Faith

[jclarke042]

Let's everyone remember. Late stage developer is hated sub-sector of a hated industry. We have no big bank coverage, we don't pay for newsletter pumps (thank God). Few, if any, active mining funds are left out there.  

 

I applaud the effort, but this man tries to appeal on webinars and podcasts with almost NO reach. No one (broadly speaking) listens to Trevor, to Crux, to Ellis. 

 

Broadly speaking, no one's aware of Casino. I'm keeping faith we're negotiating based on the resource, NOT the market cap.

[Pinegrove1]

What's the update on the balance of 2021 drill results. I would of expected we would hear something by now. 

[jclarke042]

If I remember, Paul said a couple interviews ago they have all the drill results. Only a few reasons not to release.  1. They're underwhelming. I'm disinclined to this reason because Paul's been out there saying the season confirmed, or in some cases out-performed expectations.  2. Rio's saying the exploration targets were theirs, not for WRN to release. Again, I'm

[MetalMinded]

I emailed Sandy a couple of weeks ago and he said the remining drill results woudl be released this month.  I beleive he stated before that the drill campaign was completely ours.  So, within the next couple of weeks.  As far as MET goes they don't have a defintite timeline on completion yet. If I recall, it was about 30% complete.   

[Sooner]

Sandy = She  FYI 

[MetalMinded]

Typo...

[Moneymann]

The decision to approve the Coffee gold project provides much-needed certainty about the future of the project and the development of this strategic asset,” Mark Rodgers, regional senior VP of Newmont North America, said in a statement i say come on , you have only few millions oz and you go all the pain to permit it and  call it strategic ?

[Pinegrove1]

If you add Casino on to it, it is...

[EvenSteven27]

Key word here is “strategic”. It couldn’t be anymore obvious as to what he is talking about. 

[Pinegrove1]

An interesting, although probably useless piece of information...  Mark Rodgers was with Rio Tinto for 25 years prior to joining Newmont. 

[Moneymann]

Rio and Newmont CEO are both Aussie . South America is increasingly putting pressure on gold and copper mines . my 2 cents , 3 way deal this year ..

[Moneymann]

Not that I know , is it possible to sell the asset to both and distribute to shareholders ? Or has to be shares based Deal like in typical takeovers ?

[Moneymann]

I will speculate further , Western keeps pushing permit app deep into 2023 and all of a sudden met work slowed down ..it looks like we will be out 

[jclarke042]

Sure. RIO/NEM form a joint venture, each contributing its share of an all cash-BO. Then the JV uses that $ to acquire all shares of WRN, less the amount already owned by Rio. Casino Mining would then fall under the umbrella of the Rio/Newmont joint venture. Easy in theory, assuming the moving parts of: final BO price, % of ownership among Rio/NEM, incorporating the JV, etc. would take some time.&

[Pinegrove]

OK, again with Mark Rodgers.   1) With Rio for 25 years as Head of Iron Ore Operations. 2) As of May 21, 2001 he is now with Newmont as Senior Vice President North America.  He's senior man for Newmont for Coffee. 3)  Rio was in discussions with WRN for a year before their agreement was signed. 4)  Rio is one of the worlds largest copper miners, Newmont is one of the

[Sooner]

Or alternatively Rio buys it all and sets up JV after that with Newmont I suppose might be possibility.  I struggle to understand benefit of such though...sees to really make things more complicated then necessary.  I mean let's ask a few basic questions: 1) does casino have too much gold for Rio 2) does casino have too much copper for Newmont 3) does casino have too much

[GardenManman]

maybe JV will happen, but it is unnecessary, make things complicated.

[Heywood_Silvers]

I agree with you Sooner, it makes no sense that a JV between majors would occur.  Does the king of the herd share his spoils after the kill with the sickly, old lion who can't catch anything?  No, survival of the fittest, and that means cutthroat with your opponents!! We need RIO and NEM to bash each other over the heads in a bidding war until one of them cries "uncle" and

[ubiquitousman]

Not true. Look at Newmpont and Barrick they combined their operations (major big time gold mines) in Nevada not too far back.

[AZlivin]

zNormally, I'd agree with the JV between majors not being a thing. But Rio pulled out of Grasberg a couple years ago, a property they shared with Freeport- McMoRan. FCX isn't as big as Rio, but I'd still consider them a major. A JV could still work for as large as these deposits are for each of the major resources. One company may not be willing to pay $2B for it all, but could 2

[Heywood_Silvers]

AZLivin, as far as Paul is concerned, he does not speak for me or the portfolio I manage, nor does he speak for the BoD, nor does he speak for RIO.  He, like myself, is but one shareholder amongst many who are invested in WRN.  He has his opinions about where things are headed, but in my opinion he is dead wrong that there is no way Casino could fetch $2 billion USD. Now, let's take

[Sooner]

Paul doesn't speak for the BOD???? What planet are you living on - haha! Cmon - he has to be in sync with what BOD   believes or he would have been told to get in sync a long time ago!  while PEA might be outdated as result of metal spot...probably out dated on cap and opex as well since everything is going up. In fact gas, oil, lumber, steel, etc actually might be increasing

[Heywood_Silvers]

Sooner, Paul isn't on the BoD, so what he says in a private capacity is merely this own thoughts or conjecture.  He is not authorized to negotiate with RIO, so anything he says is pure speculation. Cliff Notes version here:  PEA slices off half the value of the mineral wealth to be dug out of the ground right off the bat, you know to account for suitors who obviously won't pay

[EvenSteven27]

Paul a while ago joked around with Chris Pettman, chief geologist for Rio’s side of the project, and said “you know, the best deal Rio is going to get is just to offer me a deal here and now” (loosely paraphrased). Chris replied by saying “I know, but that’s not how these majors work”. The bottom line is that Rio will try to get as much as they can for as little as they can. But their vacillating

[Sooner]

So let me get this straight ....you want Rio to pay $1.8B for an asset that on paper has a NPV of future discounted cash flows of $1.8B???? That's not the definition of a win win. I agree , the NPV is extremely conservative IMO ---but it is what it is and you cannot expect them to pay that. I do think you are underestimating Paul's role in the "negotiations" as well ---even if

[Heywood_Silvers]

Sooner, have you ever performed due diligence on a junior resource company with X amount of delineated resources and thought, wow, that is a nice project.  Then, a bit later you see the PEA and you crunch the numbers and after taking Y amount of metal mined over Z amount of years the total doesn't match the X amount of resources proudly displayed at the website or in the investor

[Sooner]

Hey - I believe I'm right ....but I'm holding on either way and of course I hope you are right!!!!

[Heywood_Silvers]

Hi Sooner, part of all our projections to a certain degree are influenced by our holding size and our timelines.  You have more shares than most of us and prefer a quicker buyout.  For sake of argument, if you had half or a quarter of the number of shares and a longer timeline you would be leaning towards double digit territory. That being said, it is entirely possible that if RIO in

[EvenSteven27]

Heywood Silver writes: If the gold/silver revaluation occurs prior to a formal Casino buyout offer, all bets are off the table as our global financial and currency system will be in a new paradigm at that point, but that is an entirely different topic altogether.  You are right, imo, and that is another topic altogether. That is why copper and gold are a good mix. Copper may go first, but

[Heywood_Silvers]

Notice how Russia & China have been hoarding gold the last few decades?  They knew this day would come, and they are wiser and more patient than the Western Central Bank cabal of criminals.  Russia is kicked off the SWIFT system and our fake news says this is a bad thing for them.  Wrong!  This is the kickoff to nations leaving the old fiat system and moving back to gold

[EvenSteven27]

Gold is coming and it will be global when it hits. Admittedly, I have absolutely no idea when that day will come. Timelines take their own course and best to be patient on those ones. Whether WRN negotiates a deal before a new paradigm hits is anyone’s guess. But it would be nice if gold factored in a little more. Personally, I’d like to see what Newmont can offer and do some comparison shopping.