WPG has a highly-valuable processing plant which they acquired for peanuts. The solution would be to process ore from neighbouring mines and use the income/revenue to develop the exceptionally high-grade reserves at Tarcoola. The announcement of "spectacular high grades" at Tarcoola in February should motivate lenders to finance expansion plans
Challenger Mine should be moth-balled until the gold-price is inevitably north of $2,000 ounce..There will come a time when Challenger is viable again, but the value right now is in the plant/equipment and WPG's most profitable gold reserves are at Tarcoola. Let's see how nimble & skillful Bob Duffin is over the next week or so..Negotiations are required with neighbouring mine owners, financiers & contractor Byrnecut. Enough time & resources have been spent on Challenger Mine..time to wake up to reality & move on to greener pastures
WPG Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held