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Klopt. In 2015. Ik kocht ze dat jaar in april. Nu meer dan 350 % winst. Ik blijf gewoon zitten tot de overname rond is.
Het belangrijkste vind ik dat de directie van western geen joint venture is aangegaan met Rio Tinto en alleenheerser blijft over hun bedrijf.
Zo kan er binnenkort een biedoorlog starten met andere genodigden.
Rio Tinto is ook gesprekken aan het voeren met de overheid.
Als er met de nieuwe boringen en gedetailleerde economische studies nog meer waarde naar boven komt mag je er zeker van zijn dat Rio Tinto snel zal handelen om dit goud en koper klompje binnen te halen.
Heb in het verleden al een paar ritjes gedaan met Wester Copper.
Ik zit er met een gemiddelde van 1.25 dollar sinds een kein jaar opnieuw in.
Dit is samen met White Rock Minerals en Adriatic metals veruit mijn grootste positie.
Ik verkoop niet en wacht de overname af.
Western Copper And Gold Could Turn Copper Into Investor Gold
Jun. 10, 2021 11:39 AM ET
• The company's Casino project is massive by any standard.
• The Casino deposit contains 7.6 billion pounds of copper and 14.5 million ounces of gold.
• Valued as an option, the Casino project is worth over CAD$18 per share.
With a market capitalization of only about $400 million, many investors doubt the ability of Western Copper and Gold (NYSE:WRN) to finance the $2.8 billion Casino project and expect massive dilution, a reasonable expectation without a doubt. In my opinion, the proper way to value WRN is as a "real option" using the Black-Scholes model. I have done just that and come up with a value of over $18.00 a share, valuing only the copper deposit and ignoring the value of the 14.5 million ounces of gold therein.
The prospect of financing the $2.8 billion needed to get the mine built and operate it is daunting for sure, and the Canadian permitting process is a "minefield" of issues. But the Yukon jurisdiction is supportive and the Trudeau government's commitment to its "climate change" agenda will need to find the copper for all the EV's and grid upgrades implied by that agenda. I think it will get permitted and built within the next 7 years.
Brighter minds than mine (if any exist) will find ways to come up with the money and the recent purchase of 8% of the company by Rio Tinto (NYSE:RIO) for $CAD25.6 million demonstrates the potential is not lost on the majors. The financing is possible with little dilution if the company is creative and explores the sale of one or more "gold streams" to the streaming giants. At today's prices, 14.5 million ounces of gold have a sales values of over $25 billion and I have studiously ignored the gold in my valuation. A 5% Net Smelter Royalty ("NSR") would generate over $1 billion a year for the holder and I have no doubt that Western Copper and Gold could find a formula to raise the needed $2.8 billion in return for an NSR less than 5%, perhaps structured to provide a 5% NSR for the first five years of production dropping to a much lower figure like 1% for the life of the mine. The streaming investor would be paid out in the 5-year period with a tidy profit and enjoy a 17-year annuity thereafter.
This is all speculation, of course, and as I am sure readers all know, mining developments are at the extreme risk end of the speculation spectrum. But the project is advancing, Rio Tinto has shown interest, and, company management is considered first class. The real risk is not mining, it is the risk that Rio Tinto or another major bid for the company at a price that while a substantial premium to today's price is pennies on the dollar of real value.
It is a worthwhile speculation so I bought 10,000 shares.
This article was written by
Western Copper and Gold logo (CNW Group/Western Copper and Gold Corporation)
NEWS PROVIDED BY
Western Copper and Gold Corporation
Jun 24, 2021, 08:07 ET
VANCOUVER, BC, June 24, 2021 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces its 2021 exploration and drilling program (the "Program") at its wholly owned Casino Copper-Gold Project ("Casino").
The Program was developed with input from Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement entered as part of an investment by Rio Tinto Canada in Western (see news release dated May 17, 2021). The Program consists of several components outlined below:
The 2021 program will include an exploration diamond drilling phase comprising roughly 5,000 metres in 12 holes. These will target the peripheral areas of the Casino Deposit (the "Casino Deposit" or "Deposit"), as well as several exploration targets within the Canadian Creek property. Drilling on Canadian Creek will specifically target at least three areas having prospective soil geochemical and/or geophysical signatures. These include an area of anomalous molybdenite revealed from soil sampling and a potassium anomaly revealed from geophysical radiometric surveying. Also, a prospective magnetic "low" anomaly south of the main Casino Deposit will also be tested.
Metallurgical and Geotechnical Drilling
The diamond drilling program will also include a metallurgical component comprising 1,000 metres of large-diameter core in three holes, to test amenability of the mineralization to mineral processing. The program also includes roughly 1,500 m of geotechnical and hydrological drilling in the Deposit area, as well as a 910 metre geotechnical program designed by Knight-Piesold Consulting. This will target the ground conditions of the proposed tailings management facility, proposed heap leaching and milling facilities and new airstrip.
Resource Confirmation Drilling
The 2021 program also includes a five-hole, 1,500 metre resource confirmation campaign, targeting the eastern and southern margins of the main Deposit. This campaign is designed to confirm the lithological and mineralogical settings of this portion of the Deposit. Core obtained will undergo metallurgical testing as well as conventional gold and multi-element analyses.
The 2021 program includes a soil sampling component, covering the majority of the Casino property and focusing particularly on areas east and south of the Casino Deposit. The program will comprise of collection of roughly 2,400 "B-horizon" soil samples on a 200 m by 200 m grid spacing. The objective is to identify any geochemical signatures that may indicate a second porphyry centre or further mineralized zones related to the main Deposit.
The program also involves scanning of drill core utilizing the innovative "GeologicalAI" robotic scanning device built by Enersoft Inc., of Calgary, Alberta. The scanning includes "LIDAR" (Light Detection and Ranging) scanning, XRF analysis, hyperspectral analysis and some geotechnical analyses. The primary focus will be to establish a standardization of rock types drilled throughout all programs completed to date. Scanning will be done on the majority of drill core form the 1992 through 1994 programs, much of the core from the 2008 through 2012 programs, and some core from the high-grade "Deposit Core" identified by Western from the results of the 2020 program. Scanning will also be done for all of the 2021 metallurgical, geotechnical and resource confirmation drilling, and on the 2021 exploration drilling where warranted.
"We are excited to launch our exploration and drilling program developed with Rio Tinto.", said Paul West-Sells, President and CEO, "In addition to targeting new exploration targets, the work performed over the summer will provide important information that we will use as we move the Casino Project towards feasibility."
The health and safety of our employees, contractors, visitors and the communities in which we operate are paramount. To that end, we have implemented a COVID-19 policy to reduce the spread of COVID-19 at our exploration camp, and in the Yukon. We will continue to follow the guidance issued by the Federal and Territorial governments for the operation of remote camps and mining operations. All of our policies can be found on our website, at https://casinomining.com/about-us/casino-site-policies/.
Technical information in this news release has been reviewed and approved by Carl Schulze, P.Geo, and a 'Qualified Person' as defined under Canadian National Instrument 43-101.