The following is quoted from the WWI "2012 annual report" (I know its a long delay.. but we are closer than ever).
The second paragraph is of interest to me... sounds positive.
"Forestry Permit
The Company has also experienced delays in procuring the grant of its Forestry Permit for its mining lease.
Whilst the Company has received the Forestry Permit for the wider exploration leases it is still waiting for approval for its mining lease due to an administrative error within the mines department.
Again West Wits has been in ongoing discussions with the various responsible authorities including the regional and central mines departments. West Wits expects the Forestry Permit to be approved in the near future.
It should be noted that West Wits has received approval from the Paniai (local) and Papuan (provincial) Forestry Departments for the development of the Derewo Project and is now waiting for the administrative process to be completed.
The Forestry Permit remains the final permit to be received before commercial operations can begin."
There seems to be no issue with final clearing for airstrip. As you said... some "hope required" for the WWI story... though it seems that other projects in Papua I have been listing in past posts, also requiring some cleared land, are being approved/considered.
In any case the other projects point to Papua being "developed" sooner rather than later.
Also worthy of note is that the last WWI announcements have confirmed yet again - that the trial mining WILL provide income for the project.
There is no apparent issue with selling and gold from the trial mining. WWI can afford the wait it seems... even if the final paperwork takes a little while to come through.
Market may figure it out / add some value one day?
Quote below from WWI on July 31st (caps mine)...
"This circuit will allow the Company to generate some CASH FLOW but will also provide valuable data regarding the processing of the alluvial gravels for the main hydraulic alluvial circuit."
Hoping for a few golden "potatoes".
Maybe us shareholders can go up there and lend a hand too?. Let a few of us loose in the hills with a few "Minelab's" and shovels?
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Forgot this too from some time ago (April 2013)...
"Papua governor to restart Trans-Papua Highway construction"
One proposed road will go from the south east of West Papau.. all the way up and across the border to north west of PNG.
Definitely selective clearing required... so I remain bullish for WWI being entitled to same sort of approval to clear some land (nothing like mass plantations of palm oil plants).
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Airstrip / weather.. nice angle timmo... I didn't think to check for rain!
I've got September 2nd marked on my calender for estimated completion of the airstrip.
If so... trial mining could commence in full mid October?
From WWI on July 31st...
"Currently the Company is anticipating initial processing of the alluvial gravels for trial mining purposes approximately 4-6 weeks after completion of the airstrip"
Cessna "Caravan" / transport chopper touching down soon!?
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Imagine that Monday / Tuesday will confirm the MLI payment which should settle a few nerves including mine.
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Here is your BUY / SELL stack timmo...
Double figures would be a very tidy start indeed...
10 cent share price would mean approx...
$30 million market cap (approx)??
Not unheard of in these markets if things pan out. Gold price helping the story. GOC and ECR seemingly stopped selling. and/or gone.
Watermark and Twynam would hold longer term (you would think).
Management and DRD... can't see them selling so soon.
I would like to know where the selling will come from... other than those looking to free carry if they have loaded up around 2.5 cents and lower.
Story has to play out... but looks more than OK so far.
A lot of sentiment "points" counting on results from upcoming trial mining... but as you say Timmo... plenty of news due from all sorts of directions on this one.
bsh
WWI Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
(20min delay)
