re: Ann: WWI Reaches Agreement To Deliver It ... This is very...

re: Ann: WWI Reaches Agreement To Deliver It ... This is very good news and I am over the moon. 4 years I have been an investor in WWI but I took a punt and averaged down over last 8 months or so and bought a heap of the options so very happy with the outcome announcement today.

Also WWI still has 2 months to find 20,000 ounces of gold so the performance shares are delivered. I think this will be driving WWI in the next two months. I really think the gold is there in plentiful amounts and I am quietly confident that WWI will now push to have these alluvial circuits up and running within weeks to try and reach 20,000 ounces. Lets hope so anyway. 20,000 ounces at $1400 per ounce x 50% of the profits is $14 Million dollars less costs. Cost per ounce will be very little.

I also think WWI will now work quickly to get the airfield finished and all roads and accommodation / office complex.

But the best is yet to come with WWI:
1) Possible sale of balance of South Africa Assets for around $8 or $9 Million
2) Rock chip sampling results - WWI are confident the source of the alluvial gold is close by which they think could contain 20 - 30 Million ounces of gold if not more.

If WWI in the coming months gets results from the alluvial operations and then Rock chip samplings are positive (which should start to be announced over the next month or so) then this baby will fly I think. I am looking at 25 cents per share if these two conditions alone are met.

Its been a long slog but I have stuck with WWI because I like management. Sure they might have a lot of options but hey so would I if I was creating value for Papua and shareholders of WWI.