Western Copper and Gold Corp T.WRN

CRUX investor interview

[B4rryLyndon]

https://www.youtube.com/watch?v=vfTLkcTTFQ0&ab_channel=CruxInvestor

Mentions the metallurgical report is 99% complete.

Does not really mention the new drilling that was done, which I found quite odd.

And the only other seemingly catalyst other than these is permitting (obviously with the exception of postitive announcement from Rio). I am still hoping for a buy before the end of the year. If all the scoping work that Rio wanted to do is done (which with the met work being completed will be the case) then just sitting and waiting a year doing nothing with WRN would only hurt their relations with the management at WRN. I guess they can wait and hope for WRN stock price to maybe go lower to have better bargining power, but if WRN already have a price they expect and wont budge from then what will this do? Wont we just do the same as Turqouise hill and reject it? 

And if they are waiting for better copper prices; did the CEO last year not say they dont want to make acquisitions when commodity prices are high? Maybe i am just naive but I feel like Rio has nothing to win from waiting an extra year doing nothing with WRN. The one kaviat I can see is if they are short on cash at the moment (I dont know how Rio's cash flow looks right now).

[jclarke042]

But Barry, what do they have to lose by waiting? Only a few companies can build Casino. BHP flat out says No Big Projects. Barrick would rather be in Pakistan. No indications of anyone else interested. Listening to Paul, we're clearly asking ~50% of the NPV. 

[B4rryLyndon]

Well if Paul is asking for 50% NPV and our share price decreases, it will make it harder to come to a price that both can agree on. If the share price goes up in a year, they may have to pay more than they can get away with now, because I think if the two were to start discussions now I think Paul would be ok with a price under 50% NPV considering where our market cap right now. As well waiting

[Sooner]

Exactly - just like Sooner has been saying forever...market cap will dictate sale price.... many on this board think market cap is meaningless in sale price and in the negotiations....they would be wrong.... the only way we get close to 50% NPV in todays environment is if we get another major on board with a similar agreement as Rio...to hopefully create the tension needed to raise market cap

[Sooner]

I think he stated a shovel ready fully permitted project typically valued at 50%. We are trading around 10%...but of course we aren't permitted. So logically a buyout by Rio would be between $1.75 and $8.75 cad today.... note he also stated even though Dale doesn't like JV...he isn't chairman...yes he's a large shareholder but that's it!

[MetalMinded]

He said share price should be trading at 50%, not that this would be the buyout price.  There would be some premium on top of that. 

[Heywood_Silvers]

Let's dig into that 50% figure a bit..... The $2.3 billion NPV figure is using an 8% discount rate.  OK, if everyone involved is in agreement that 8% is a proper rate, they are implicitly agreeing that inflation is much higher than the official figures attest to.  So, what metal does better in an inflationary environment, gold or copper?  Gold does.  And haven't I read

[Diamondboy123]

And we wait another ten years.  

[MetalMinded]

If that's what it takes to get the payout. I'm willing to wait.  I don't like it, but believe in the project and eventual payout enough to wait if that's what's needed. 

[Sooner]

Well...if we had a $6 usd offer from Rio today...in my opinion we would be sold...that's 5 x current market cap and any sane person would accept that! Firstly no sane person would offer that right now! Even Paul stated fully shovel ready trades at 50%...we aren't close to shovel ready....one could argue we should be trading 20% rather than 10%.... but not 50%! IMO An offer of 30% ($4 usd)

[Heywood_Silvers]

Hi Sooner, I see "shovel-ready" as being a sweetner of sorts to help juice the premium in a buyout.  Whether a project is shovel-ready or not does not affect the NPV because the NPV calculations already take capex and such into account. You are correct that a good portion of the shareholders would likely accept a $6 offer if it were made today.  But, here is the crux (no pun

[Marine2]

B4rryLyndon This from your comment, ""Does not really mention the new drilling that was done, which I found quite odd."" We know they sent something worth while to lab for assaying, who knows, maybe there was a reason not to mention this in the interview because there could be something big to report on and did not want this to be any part of this talk ???  Very

[Sooner]

Emailed Sandy from her last email to me on 8/12 where she stated "waiting on anomaly assay results" asked her if we are still waiting????

[Marine2]

Thanks Sooner Will be interesting to see the answer ! M2

[Sooner]

"We are waiting on final assay results from the deep anomaly, once the final results are received the team will be able to complete their analysis and any significant findings will be reported.     Thanks, Sandy"

[jclarke042]

More waiting?? I was sure she'd say "we have a NR planned before Paul's presentation tomorrow." Nothing's happening here for at least 12-14 months.  

[Marine2]

Sooner Thanks for sharing the info. ""We are waiting on final assay results from the deep anomaly" M2

[blueboron99]

And if they drilled all 3 of the large samples projected it will take much more time to receive assays from lab. Blue

[MetalMinded]

Didn't Paul say in the interview that everything is done and they are waiting on the finalized report?

[jclarke042]

Yes. Same thing as he told Trevor 2-3 months ago. "We don't have a report, but we know what it looks like." 2-3 months later, still nothing. Looks as if they're deliberately holding it. This is all intentional. And don't get your hopes up on drill results soon. Late October, Early November is my guess.  

[MetalMinded]

Not defending but I believe he said that the analysis were nearly done and now says the report is nearly done.  They can't release it if it isn't in the official independent report.  That's why they use third parties.  Independent reports carry more market weight, and may actually be a requirement for a publicly traded company.  

[B4rryLyndon]

In the interview I think he was only talking about the MET report not the drillnig.

[Marine2]

B4 Sooner asked Sandy about results from the deep anomaly drilling Responce """We are waiting on final assay results from the deep anomaly, once the final results are received the team will be able to complete their analysis and any significant findings will be reported.  "" Drill Testing a Potential Game Changer at Casino Mining Stock Daily  

[GardenManman]

during interview, Paul never mention the deep anomaly drilling, does it mean there is no significant finding ?