2 billion tonne hematite target with $7m cash , page-18

Thanks DDzx,

Still holding but didnt have much to say last few weeks while WGO were sorting out their placement. Im not really confortable with exploration targets as they can be open to misinterpretation where insignificant work has been undertaken. My point was there is exploration risk associated with WGO's target, none or only a small part of the target area maybe of DSO type quality. WGO may need several drill programs to prove this up plus logistics are not easy in the ROC. There is alot of potential here, hence why i hold, just trying to put across a balanced view without too much crystal balling.

Thought rock chip assays from the recent field trip would be availble soon.

AKM im very happy with, hopefully Noble and significant others will follow us into CKA too. Well done on ELM btw, traded this like a knob.


boned1

"I would prefer to see a small resource proven and then get on with the business of moving it and turning it into cash via some key customers"

This works if your near rail, however SDL/EQX/Core plus chinese interests have or are after elephant size projects to justify development or Co-development of their resources. To push their own case, WGO imo also need to find a deposit in the same size/grade ballpark. This makes them very much a resouce potential play than a short term cash flow company.