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The Paterson Region is attracting significant exploration interest.
With a market value of less than £4m Wishbone Gold attracts the lowest market valuation of a group of Western Australian focused exploration companies (including itself) operating in the region which suggests that exploration success could trigger a meaningful re-rating.
COMPANY........................ MARKET CAP
Greatland Gold ...............400 mil
Capricorn metals ............1.6 billion
Genesis Minerals.............1.76 billion
Musgrave Minerals ..........115 mil
De Grey Mining ................1.357 billion
Calidus Resources ............69 mil
Ora Gold.............................7 mil
Ora Banda mining..............147 mil
AusGold ........................ .... .72 mil
Astral Resources ...... . .. ..... 34 mil
Alto metals ..........................23 mil
Maximus Resources ............7 mil
Black cat ..............................64 mil
Kairos Minerals ....................22 mil
Tarramin Australia.............. .34 mil
Kalamazoo Resources...........13 mil
PEER Average market cap 241 mil
Western Australian peers average market cap of 241m suggests that WSBN could have a significant re rating of the SP from the present lows
Yup, let's see...IMHO this is being pump primed, dare I say, yet again, for a significant rise, yet again, in the next couple of weeks. Will it be sustained? Who knows, but personally I don't give a damn, as I'm more than happy to just hold medium/long term, and sit on it. The usual traders, of course, can do what they like, and I have no issue with that, whatsoever, but, IMHO, they'll probably all miss any big rise, if it comes!
I know a fair few EEE holders in here that loaded up over there at 1p range start of 2023 when it was quiet and we had no details on the drill plans for pitfield.
It moved up 500% BEFORE they eventually announced their big strike.
Good time to start to position build in WSBN here now with a potentially game changing drill season ahead.
We know the holes are already collared at Red Setter and primed for the deep 800-1000m+ deep diamond drilling program.
GGP was in a similar situation prior to drilling deeper down at Havieron and the rest is history
Won't be surprised to see this move up many multiples over the next few months
GLA
Pump coming already now?!
We are about to head back out to Red Setter over the coming weeks to diamond drill at depth this time.
Once GGP took the decision to drill below 400m+ at Havieron that's when things really got exciting as they hit the higher grade zones.
WSBN scout drilling programme hit mineralisation in e ery single hole without ever testing below 400m
The experts have already called Red Setter as a potential analogue to Telfer..
Remember... Its only a mere 15km away from Telfer Mine itself!
Expert Geophysics state:
"We can see a very prominent dome structure in the south of the Red Setter area, expressed in the corresponding highly resistive anticline in depth and extended in NW-SE direction. Axes of assumed anticlines, projected to the surface, are in the pictures (white and red dash lines). The overall structure is open to SE."
"The maps, in Image 1, from Red Setter and Telfer, are approximately in the same scale so the dimensions of the structures are comparative, and the direction of the controlling structures is the same. The Telfer epigenetic model emphasizes the importance of structural controls on mineralization within the domes (GSWA Report 97 by K. M Ferguson et al., 2005). We can see resistive and conductive highly contrasting linear structures within and over the dome."
"Accordingly, our original conclusion that the additional drilling should be the target Zones MMT-R1 and MMT-R2 is confirmed by this analysis."
Nice £30k intra-day buy yesterday, printed late, bodes well.
Should start to see the SP move back up sharply to previous levels ahead of drill crews being mobilised.
Folk were happy paying 20k for just 100,000 shares the first time we went out to do the initial scout drilling at Red setter which hit mineralisation in every hole.
Given the massive wait between then and the follow up deeper diamond dril program where we now have the benefit of expert geophysics who have highlighted the target areas for the deeper drills you can buy roughly 2milllion shares in fhe company now and grab a much larger stake in the business even with the addition of the recent share issue there is only 327mil shares in issue so this will move fast as we've seen before.
Also, worth taking a look at the gold grades revealed at our recently acquired land at mosquito creek which sits in an area of historic gold discoveries. Will posts up some further info on this additional mineral rich land package separately later on today.
We are bang in the right post code area and the present market cap presents a compelling opportunity to realise some significant gains as the SP has plenty of room to put on some weight to reach fair value vs peers ahead of drill season comencing.
NT to buy for any large amounts.
Hopefully we go for an afternoon bull run
Need some news, what’s he bloody doing !!