Market softening on WAF. I'd say there will be some excellent...

Market softening on WAF. I'd say there will be some excellent buying opportunities ahead as the company enters a bit of an orphan stage.

One thing to note is this.

"Project resource according to the recent presentation stands at 2.1Moz (Ind) & 0.7Moz (Inf)"

You often see the term world class bandied about a bit. In my arguments on another thread I came across Singer's 3.2Moz threshold for the measure of a world class gold deposit (see below). The current resource is not too far from this world class threshold and I've got little doubt in my mind that the M1 resource could be multiples of it's current size at depth. The grades of the current UG resource are very impressive (see below) and no problems with metallurgy indicated so far, so unless there is some undisclosed geotechnical issue with mining this ore body I can't see that it won't be mined. It would be fantastic to get the longer term benefits of this ore body/project but alas I'm pretty sure the north Americans won't leave this one begging forever.

35cents looks like the next support and then 31.5cents. I'd be buying that second dip if it comes and if she breaks 31.5cents the trucks will be backing in at the next level of around 28cents. Esh

Underground resource:
(+120m depth, reported at 3 g/t Au cut off)
 0.47Mt at 26.4 g/t Au for 395,000 ounces gold (Indicated)​

 0.35Mt at 16.1 g/t Au for 180,000 ounces gold (Inferred)

https://www.bhp.com/~/media/bhp/documents/investors/reports/2006/amecconference.pdf





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