drd gold.... our major shareholder, page-9

timmo.... I know you have been on WWI for quite some time and would have read it many times... but thought I'd dig and re-post some of the numbers from the "CMA Global" report on the project... to stir the threads up again.

No doubt the very decent potential highlighted in this report is the reason we are still grimly holding onto our WWI shares/oppies.

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Section 3 has the nicest numbers.... a few brief excerpts and part of the story below (all credit to WWI for the following direct quotations from the "CMA Global" report available from WWI website).

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"Freeport was aware of substantial alluvial gold in the Derewo mainstream where it exits the central mountain range on to the northern coastal plain but this was not followed up."

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"The Sangir miners followed the Derewo from the same spot, digging pits along its tributaries until they found the present mining areas in early 2004"

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"The 40ha mining lease held by PTMQ covers the areas furthest upstream and the most productive to date, namely Areas 81, 45 and 99 which are reported to have collectively produced in excess of four tonnes of gold since 2004"

4 tonnes (estimated/rumoured = approx 120,000 ounce). Nice.

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"Production figures for Area 81 supplied by PTMQ are shown in the following table. It is not possible to independently verify these figures but they seem credible.... (table for 2005-2009 showing 955 kilos of gold extracted)".

955 kg ... with recent years left off.

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"The volume of gravels processed each day is small and would not exceed 10m³. Daily gold recoveries can vary from 50g to over 1kg. There are reports of pockets containing up to 100kg of gold having been found but these are rare."

Not bad numbers.... given the mining methods used up to date.

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"The deposits mined here are of gravels from 17 – 20m thick consisting of large boulders in a matrix of fine rubble
of the local black graphitic metamorphosed sediments and black clay"

Decent volumes of gravels to be processed... not thin layers by any means.

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CSA GLOBAL REPORT

http://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&ved=0CDYQFjAC&url=http%3A%2F%2Fwww.westwitsmining.com%2Fdocs%2F135%2F&ei=dV-fUaHMEOeOigeShoDwDQ&usg=AFQjCNEfD6t_-ADg4v07x894I2rjvky2iA&bvm=bv.47008514,d.aGc

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Could be a quite good year..... a few variables out of WWI absolute control... but confirmed $4million cash flow from Mintails a big relief... allowing some breathing room.

Constantly reading up on a few issues affecting WWI... nothing much different to many spec projects around the globe. Have to invest with a little "hope" factor on this one, to have a few "cheap" shares. Positive news on those fronts should see the WWI market cap firm up nicely. "Hope" not a sound strategy... but hey... its early days here.

Will soon see if 5 million market cap is "cheap".


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I know they have a few other targets... but ABU (ASX) is one to compare. Some similarities... given trial mining on the horizon for both. Apples with pears? Dunno...

ABU (ASX)

1) Trial mining commencing within months

2) No Debt

3) $8 million cash

4) Substantial monthly expenditure

5) Basic processing

6) Awaiting some permits

7) AUSTRALIAN based targets

8) Substantial JORC (miles in front of WWI)

MARKET CAP.... $121 million

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WWI (ASX) to compare....

1) Trial mining commencing within months

2) No Debt

3) $5 million cash ($1mil in the bank... $4mil on its way)

4) Minimal monthly expenditure

5) Basic processing (even less so than ABU with no ball mill required yet?)

6) WEST PAPUA & SOUTH AFRICA based targets

7) Awaiting some permits

8) No JORC on West Papua... basic JORC model on South Africa


MARKET CAP.... $5 million

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All the best....

bsh