Having gone over my notes and done a bit more research,
i have come to the same concludion
this really could be the next MMX or MIS
i have spoken to the company again recently to try and [again] suss out any potential risks [which would normally be...surrounding infrastructure; deposit/grades - is it economic and large enough...] and again i have been reassured by the company
On the deposit!
Their deposit is large, and if they can get grades of 95%+ using the Kobe technology - which they are 100% confident that they can (they used 95% grades in their discussions with me) - there should be no problems at all
The deposit is large enough to sustain a mine life in excess of 20 YEARS!!!
On surrounding Infrastructure!
As for all new miners, this was another concern and topic for discussion
We spoke about the recent agreeent/discussions with WestNet rail. Management are confident in the WesNet Rail proposal. They are confident that the line at Wiluna will be re-opended so that the surrounding miners will have access to close proximity rail.
Playing the role of devils-advocate [and being the pessimist that i am on these things] i asked; "ok, if this doesnt suceed, what are your options"
Firstly, they said that they are supremely confident that it will suceed, but then to adhese me reminded me that in a worst case secario, they have t major highway outside their doorstep and so can just truck the ore along the highway to a rail somewhere along the road or all the way
This would be more expensive, but its a definitive "back-up"
So my recent thoughts have been, do i sell at $1.20 or just hold and give these fellas a go, as they could really make this company into something special
I regret selling MTN at $1.60 [after buying at $0.60]; I regret selling JML at $0.60 [after buying at $0.30]...etc...
So, i am going to sell 25% of my holding at $1.20 and then hold the rest for good and give these gents a go...i dont want to regret this one like others
Good Luck
Disclaimer: Do not use this as financial advice
LCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
