WA8 2.27% 4.3¢ warriedar resources limited

When I bought into this company I was lead to believe (by...

  1. 543 Posts.
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    When I bought into this company I was lead to believe (by announcements, presentations etc.) that we would be starting to mine Big Springs in the beginning of 2016, and that the processing agreement that was in place would be honoured by Sprott. Then came, among months of silence, occasional remarks that the agreement was being re-negotiated to achieve result that is better for both parties. Then came the purchase of Exterra for something like half the value of our company. IMHO, there is no agreement between Sprott and AWV, and that is why Exterra was purchased. Unfortunately, I only sold a third of my holdings for 10.5 cents before the price dropped too far as I thought at the time.
    Anyway, where do you get $1.6b of gold in WA from? That would be close to 1MM ounces. Their website lists the Linden Project as "Resources of 131,000 ounces and an Ore Reserve of 65,000 ounces".
    Big springs has 1MM ounces resources, more than half of that inferred. But I can't see that being mined next year. More likely we sell that project for profit one day?

    All IMHO and DYOR
    Last edited by Gold Bugs Bunny: 09/01/18
 
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