long john silver
Member
Did a search and could not find a thread dedicated to WCN so decided to start one.
I did discover that Bullion Baron has been a holder in the past so i would be very interested in his opinion.
( Always enjoyed reading your detailed company research in the past)
Picked up some shares last week and considering getting some more next week as a short term trade. WCN are currently drilling their Aucu project (89% owned)in Kyrgys Repblic which already has a resource of 156,000 OZ AU at 4.2 grams per tonne.
On paper it looks like they are onto something big with four large gold bearing zones discovered and only a tiny percentage drilled for the 156000 OZ resource. Drill results are due in mid November so it will be exciting to see what is discovered especially as there has been a few multi million OZ gold resources drilled in the surrounding area.
Other than their Kyrgys Assets they are committed to drilling 4 prospects in WA over the next few months 2 Gold And 2 Nickel, that means heaps of assay results expected over the coming months.
This is high risk/reward but happy to take a punt.
Some Positives:
> Cashed Up after recent capital raising.
> Drilling in areas that are known to contain large deposits
> Multiple prospects, helps spread risk.
Some Negatives:
> Political Risk in Kyrgyzstan
> Winter is coming in Kyrgys so may not manage to drill all that is planned before been snowed under.
> Further Share dilution ( they know how to issue shares going from about 250 Million to over a billion shares on issue in a short period)
Not posting this as any form of recommendation so please do you own research, just interested to hear if anyone else is holding or considering taking a position.
Happy Investing/Stacking,
John
I did discover that Bullion Baron has been a holder in the past so i would be very interested in his opinion.
( Always enjoyed reading your detailed company research in the past)Picked up some shares last week and considering getting some more next week as a short term trade. WCN are currently drilling their Aucu project (89% owned)in Kyrgys Repblic which already has a resource of 156,000 OZ AU at 4.2 grams per tonne.
On paper it looks like they are onto something big with four large gold bearing zones discovered and only a tiny percentage drilled for the 156000 OZ resource. Drill results are due in mid November so it will be exciting to see what is discovered especially as there has been a few multi million OZ gold resources drilled in the surrounding area.
Other than their Kyrgys Assets they are committed to drilling 4 prospects in WA over the next few months 2 Gold And 2 Nickel, that means heaps of assay results expected over the coming months.
This is high risk/reward but happy to take a punt.
Some Positives:
> Cashed Up after recent capital raising.
> Drilling in areas that are known to contain large deposits
> Multiple prospects, helps spread risk.
Some Negatives:
> Political Risk in Kyrgyzstan
> Winter is coming in Kyrgys so may not manage to drill all that is planned before been snowed under.
> Further Share dilution ( they know how to issue shares going from about 250 Million to over a billion shares on issue in a short period)
Not posting this as any form of recommendation so please do you own research, just interested to hear if anyone else is holding or considering taking a position.
Happy Investing/Stacking,
John
