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https://www.investegate.co.uk/wishbone-gold-plc--wsbn-/rns/wsbn-s-filing-for-drilling-programme-at-red-setter/202104230700063723W/
i did say they had a huge copper / gold mineralisation folks. Its all there is previous RNS's and now todays RNS, 30,000 metres at shallow depths announced. Massive re rate due with Wishbone. Huge. I hold XTR, WSBN, BCN, ZPHR, JLP
I agree on the potential for WSBN, but why is the drilling program going to take four years??
"The Programme of Works filed with the Western Australian Government for up to 100 drill holes to depths of 300 metres over a 4 year period."
Not exactly a quick return, even if they eventually find something. The six month 20,000m program at XTR is looking fast in comparison.
Yes, 30,000m in 4 years compared to our 20,000m in 6 months - just goes to show how keen CB is to hit that magical 2M tonnes!
And we know CB always his commitments on timelines.
And we know CB ALWAYS meets his commitments on timelines.
The problem with wsbn Is that they clearly don't know where the mineralization is and how much...ip is useful but the aim graveyard is littered with iP drilling companies ....they are just guides with no say over whether any associated geological feature actually has mineralisation..
They arnt funded for that drilling.
They might hit good mineralization in the first year of the 3rd year.
Interesting but a long way from being in vestable for me.
Very true Ella, that did make me laugh.... but that aside, it might not be 6 months, but if they get the double team on board and start going at this, we should be able to speculate how long it will take to do 10k 15k .... 20km of drilling ...
4 years seems long time though..... doesn't it.
XTR drilled nearly 5,000m in 3 months with one rig, so 6 months seems like a realistic estimate for completing 20,000m with 2 rigs.
Mr Collin Bird could we have a positive rns please today, thank you
FOlks sorry for the O/T, but the 4 years is a ref to the licence length, NOT how long it will take to drill. The depths are much much shallower than GGP's haverion, over a much much larger 3k x 1.5k strike length. They are funded by a £2m placing at 10p. Sam Hitchins ( chairman of the FTSE gold index ) joined the BOD as a JV deal maker in FEB. Go figure, this is a shoe in for a JV with Newcrest aka GGP all day long. Not with out risk, but so has every other commodity co out there. Worth £10,000 side bet in anyones money. I hold plenty of XTR too. I'm just putting WSBN out there.
I agree 4 years is a long time. 6 months appears to be in a reasonable ballpark but it appears we were very fortunate with getting the drills in the right location and no significant delays. I assume we will end up with some short holes which will add time.
I have only been invested in CB companies for the last 9 months starting with GLR in Aug and adding XTR in early Jan. I have done well in GLR having currently reduced my holding to very little and have also got a significant paper profit with XTR having been lucky and taken some actual profit at 8.5p. But the comms on these companies suck - really admire Andrew4444s balanced view considering the frustrations he must have suffered over the years.
Anyway just off to have another look at the latest model of the Racecourse mineralisation - I've studied it multiple times since it was released in March but still find parts of it elusive.
the 4 years is a ref to the licence length, NOT the drill time. DYR, the mineralisation is at very shallow depths compared to GGP's haverion and over a much much larger area. only £30m mkt cap. Full funded drill campaign with £2m raised at 10p.
>> Full funded drill campaign with £2m raised at 10p.
I wish XTR could use the same drilling company as WSBN. XTR raised £10m in the last two placings to drill phases 1+2 for only about 25,000m total (minus a small proportion for Africa), while WSBN are apparently fully funded for 30,000m for only £2m.
In all seriousness, I do think WSBN is a good prospect and I was invested for short period. However, I am going to wait until the funding and permit situation is sorted before potentially buying back in.
Steve - WSBN are only drilling to 400m.. XTR are drilling down to 1.5KM
the two really arent comparable.
WSBN fail to even specify, but their plan of drilling many holes to 300m suggests that they are drilling RC rather than diamond, which would explain most of the cost differential.
papaduke - in my best Peter Hitchens impression, let me say that WSBN are not particularly relevant, and they're not particularly good!
So many agendas here now that even the covert derampers have become obvious to the most recent of investors...
Can only be a good sign IMO, as these parasites only prey on high value targets.