# KWR - Kingwest Resources



## System (18 June 2018)

Kingwest Resources Limited is a mining and explorations company focused primarily on gold exploration in the Eastern Gold Fields Region of Western Australia. The Company intends to aggressively explore for and extract gold in a mix of advanced, intermediate, and greenfield projects within this highly prospective district. 

Kingwest's total tenement package is one of the largest in the region, at 760.25km², with an option take it to 935km². Kingwest's land holding is focused on prospective geological anomalies that have not yet been properly explored or developed, but which are in close proximity to proven mining projects situated on or along these same anomalies.

It is anticipated that KWR will list on the ASX during July 2018.

http://www.kingwestresources.com.au


----------



## DWarner (20 June 2018)

Kingwest is a mining and minerals exploration company with over 935km² of ground in the Leonora Goldfields. It will aggressively explore for and extract gold in a mix of advanced, intermediate, and greenfield projects within this highly prospective district. 

To best exploit the potential of its mineral assets, Kingwest has assembled a uniquely qualified and experienced management and exploration team. Our Board has extensive corporate history in the exploration, development, financing, and production of precious and base-metals deposits and our management team has a proven track record and diverse management skills in the resource industry of Australia and abroad.

To find out more, head to their website and download the Prospectus: http://www.kingwestresources.com.au/


----------



## greggles (12 August 2019)

Interest in Kingwest Resources has picked up following their announcement last month concerning their acquisition of the Menzies Gold Project from Intermin Resources for $8 million.

Volume picked up substantially on 29 July which was the same day they released details of the $4 million placement to part fund the acquisition (26,666,667 ordinary shares at 15c a share) as well as an Investor Presentation about the Menzies Gold Project.

KWR was consolidating all last week between 21.5c and 26c but made a sharp move north today, reaching a high of 34c before finishing the day back at 29c.

Could be some potential here. One for gold bugs to run the ruler over perhaps. I haven't looked too closely at it yet but will this week sometime.


----------



## barney (12 August 2019)

greggles said:


> Interest in Kingwest Resources has picked up following their announcement last month concerning their acquisition of the Menzies Gold Project from Intermin Resources for $8 million.




Thanks for the heads up Greg ……

Quick glance …. Menzies Project looks potentially really good …. however …

For some reason this Stock makes me nervous ….

When a Stock makes me nervous, I find they can often rise quickly (great) … but that is often off the back of unsustainable/unproven fundamentals (scary)

My fears:-

The Lads on the Board seem perfectly fine lads, but they are not Miners/Geologists etc

They have bugger all Shares on issue and a tiny Market Cap (Unfortunately open to trading distortion)

Short term, I class this as a "pass the parcel" Share.  Possible to make a lot of money in the short term, but you may need to be nimble when the fun is over so you don't get caught with an "investment"

Medium term, it could well prove to be excellent … but its way too early to tell.

Egg shells for me... bear in mind I am a chicken now days!


----------



## greggles (13 August 2019)

Good points there barney. Totally agree that this is not one to hold for the longer term until it proves it has something of tangible value and the resources to develop and advance it. However, it may present some good short term trading opportunities.

I notice KWR has held up well today in a declining market so there is still quite a bit of interest there.

It will be interesting to see how it all plays out in the coming weeks and months.


----------



## frugal.rock (11 September 2020)

But of a write up on Stockhead.
https://stockhead.com.au/resources/...are-on-the-road-to-defining-1-million-ounces/


Held.


----------



## frugal.rock (16 October 2020)

From 6th October announcement,
"Further assay results will continue to be received over the next few weeks."  I smell gold...
Intraday high of 0.215 today.


----------



## frugal.rock (20 October 2020)

Closed today$0.23, 
up .03 or 15%.
This week old vid references 6th October results. (Take note of dates...more infill assays due "soon")
Ed Turner doesn't seem comfortable in front of a camera, this increases my level of confidence as he doesn't strike me as a show pony, and, he looks a bit like me...


----------



## finicky (20 October 2020)

This guy's operating on such slow wave frequency you need special equipment to register him.


----------



## frugal.rock (20 October 2020)

finicky said:


> This guy's operating on such slow wave frequency you need special equipment to register him.



Not quite sure where to begin with you finicky?

Are you going stir crazy from lockdown or something?
R u OK ?

Just asking as normally you are full of useful observations... rather than having a hack at someone who has worked under the sun ?
Just sayin...


----------



## barney (20 October 2020)

frugal.rock said:


> and, he looks a bit like me...




Righteo then! ....... Secret is out! I see the resemblance


----------



## frugal.rock (26 October 2020)

26 October 2020
Spectacular high-grade results continue in shallow Resource
Drilling at Menzies

HIGHLIGHTS

Further high-grade gold has been intersected within and outside of current Mineral Resources at Menzies.
The Resource Definition RC drilling program  has been expanded from 10,000 metres to 14,000 metres to extend  existing JORC Resource of 319,900oz @ 2.1g/t Au.

Best results include:

 1m @ 107.0 g/t Au from 88m in KWR098

 5m @ 13.8 g/t Au from 122m in KWR102 (including 2m @ 31.8 g/t Au from 123m)

 2m @ 18.1 g/t Au from 44m in KWR065 (including 1m @ 34.8 g/t Au from  44m)

 3m @ 8.2 g/t Au from 35m in KWR083

 4m @ 5.4 g/t Au from 17m in KWR084 (including 1m @ 16.5 g/t Au from 19m)

 1m @ 22.4 g/t Au from 82m in KWR099

 2m @ 10.1 g/t Au from 95m in KWR099

Further results are expected over the coming weeks for the remaining 17 holes with  assays pending. 

The Resource Definition program has now been extended with a further 80 RC  holes for approximately 8,000 metres remaining to be drilled as well as approximately 2,000 metres of greenfield exploration drilling at various Menzies  targets.
All are planned to be completed in 2020.


----------



## finicky (27 October 2020)

Entered with 20,000 @ 21.5 on Monday, but not because of any fragile commentary here.

Same story as BC8, HRZ - excellent Kalgoorlie environs gold field, high grade underground mining ditched In 1946, open pit mining abandoned late 1990's  when AUD gold price was $400+ after years of relentless gold price decline. KWR has already discovered adjacent robust open pittable resource, reckons there's heaps left u/g and I tend to believe them. One of the directors is Jon Price, M.D of Horizon Minerals (HRZ) who demonstrably knows something about consolidating tenements in the eastern gold fields and onselling an advanced and value added project. 

Overhang of rights and placement issue @ 13.5c could weigh down further but dramatic long tail daily hammer candle today. I will add if it gets down to near placement price.


----------



## frugal.rock (27 October 2020)

finicky said:


> Entered with 20,000 @ 21.5 on Monday, but not because of any fragile commentary here.




Nice entrance,


----------



## finicky (10 November 2020)

Picked up another 20,000 @ 20c today, a day of 'opportunity'.
Came across the following old preso with our CEO lighting up the room and slam dunking it at the 121 mining investment conference Sydney, Autumn 2019


----------



## frugal.rock (11 November 2020)

finicky said:


> Picked up another 20,000 @ 20c today, a day of 'opportunity'.



Apparently nice timing with some more nice drilling results out this morning.


----------



## finicky (30 November 2020)

Got a sitting bid for 20,000 more Kingies hit today. Price 16c. Got to say the chart's looking precarious.

Daily


----------



## frugal.rock (1 December 2020)

finicky said:


> Got a sitting bid for 20,000 more Kingies hit today



Yep, it was support level for me.
If your order triggered at 12:52:~47seconds, I sold to you !
POG and oil is creeping down, crypto up.
If flight to safety returns, I would re enter this one as well as Tesoro TSO
I really dislike the way these gold stock have been trading, erosion by stealth.
PS, bore a modest loss after not selling around 0.23 for a healthy profit.


----------



## finicky (3 December 2020)

Kingwest Resources

This graphic is over a year old from a Sept 2019 presentation following the acquisition of the Menzies Gold Project from what was then Intermin Resources (now Horizon Minerals - HRZ). Horizon still owns a big chunk of KWR equity from this transaction.

It's very descriptive for one graphic, you can see that the deepest of the underground workings was only 600 metres below surface, the others much shallower than that. Underground operations were all abandoned in the second world war years. The weakest grade for underground was 16g/t! The highest u/g grades were 1oz/t. Yet no deep drilling has been done below these old workings. There has been very little exploratory drilling at all. I get the impression that gold mining just took place at surface expression beginning in the late 19th C and then just followed lodes down to a limited depth with most shafts abandoned while still in mineralisation. Check out the mined grades. 

The pits are all shallow and were carried out in the 1990's when I think the gold price was A$400/oz or less.

I think there's a fair chance I might have scored a short term low with my last tranche @ 16c.


----------



## frugal.rock (4 December 2020)

finicky said:


> I think there's a fair chance I might have scored a short term low with my last tranche @ 16c.



Am out of 2 other trades today so jumped back in on KWR at 0.17

Your post @finicky reminded me why I purchased in the first place, thank you.

Now that gold has recovered, hopefully things keep going in that up trend. 
All in all, it was a profitable rotation exercise.


----------



## finicky (17 December 2020)

Bid in for 20,000 more KWR @ 16c
Disclaimer: I wait for years to see if my specs pay off











						Kingwest Resources reports some of its best results to date at the Menzies gold project
					

Kingwest Resources Ltd’s (ASX:KWR) Ed Turner tells Proactive's Andrew Scott that drilling within the Lady Shenton, Lady Harriet and Yunndaga...



					www.proactiveinvestors.com.au


----------



## finicky (22 December 2020)

Gee, just saw on my email that I picked up those 20,000 @ .16 that I had a sitting bid for. 
Something happened today - how disorientating.
The best place to look for Gold is under the head frame of a shaft mine in an abandoned 100 year old gold field.🎓⏳


----------



## frugal.rock (22 December 2020)

finicky said:


> The best place to look for Gold is under the head frame of a shaft mine in an abandoned 100 year old gold field.



The head frame you speak of is known as the "poppet head".
The old ones were timber then along came iron & steel.
Here's a simple oldy.


----------



## finicky (23 December 2020)

Sold! To the fool in a hat on the couch*
Another 20,000 shares @ 0.16
Now holding 100,000 and I await a suspected rights entitlement
* actually a bed, or even more precisely, a mattress

 I was just reading back over some old KWR presentations and saw that they have *$3.3m* that they have still to pay Horizon Minerals (HRZ) for the vending of the Menzies Gold Project tenements. The payment for the MGP was staged and the second tranche was to be paid not later than 18 months after settlement. Settlement was around July 2019. So by my rough reckoning, second tranche would be by *Jan 2021*.  At least, I can find no announcement that this has been paid. It amounts to $1.65m in cash and $1.65m in KWR shares.

Also a rationale as to what *might* be weighing down the share price at 0.16. There have been at least three recent significant capital raisings (including placements to sophs and insts) that might be motivating profit protection or just moving on from the declining or stagnant S.P. around 0.16. Something Tony Locantro said, that has stuck, is that it is common for big money to participate in placements without any intention of sticking around 🚮🚢

$4m raised Sept Qtr calendar 2019 @ 0.15
RE and Plcmt in Sept 2020 @ 0.135
Plcmt in Feb 2020 @ 0.165


----------



## Trav. (23 December 2020)

@finicky I was reading through this thread and was a bit confused on your logic to enter in your initial purchase then with your subsequent purchases to average down ? Please don't take this the wrong way as I am not perfect (far from it) but as I said I am interested in your thought process on this one.

1. Do you trade on a combination of FA and TA? 

I could not see your entry point clearly on the chart posted - There is a close above top Bollinger Band around the 13/10 that could have provided a lower entry point ~ 17.5 to 18.5c



finicky said:


> Entered with 20,000 @ 21.5 on Monday, but not because of any fragile commentary here.





finicky said:


> Overhang of rights and placement issue @ 13.5c could weigh down further but dramatic long tail daily hammer candle today. I will add if it gets down to near placement price.




2. As quoted above you mentioned that 13.5c would be the key level to add, but you added at 20c, 16c, 16c, 16c - 

3. 


finicky said:


> Disclaimer: I wait for years to see if my specs pay off




Fair enough mate, but with around $18k invested so far, this ties up some funds so how long are you really willing to wait? If years then you have more patience than me.

As said above please don't take this as a attack on you as I can show you my trades on CLA and you will shake your head in disbelief on the stupidity in my actions. If not comfortable to share please disregard the above.

Good luck in the trade.

Trav


----------



## frugal.rock (23 December 2020)

Should say I jumped ship... and sold not long after re entry.
Gold and XGD just weren't coming to the party.



Trav. said:


> I can show you my trades on CLA and you will shake your head in disbelief on the stupidity in my actions.



I could show you my trades on NSX and CGB and the head skaking at MY stupidity would cause a time rift and land you in Mumbai !
Eh,? who's the dumbest one now, eh, eh!?
lol


----------



## Trav. (23 December 2020)

@frugal.rock yes mate I think that we all have some skeletons in the closet.

This forum is a good way to post our thoughts and actions, sometimes as a live diary or sounding board but I believe that we will never stop learning. Hopefully some friendly questions might challenge our thought processes.


----------



## finicky (24 December 2020)

Some probing questions there @Trav 🔬🕳 reminded me of why I left 'Intelligent Investor' after a brief encounter. I took their tests, or more correctly, began their tests to assess my investing I.Q and was doing quite poorly so decided they must be wrong, lol


Trav. said:


> Good luck in the trade.



That's part of it, I don't feel that I am a trader and identify more with the term 'investor', even for a speccie like KWR. Of course I do trade though, for the usual reasons like derisking or because I need a cash position or I lose faith in management. Some of my best stocks I held through thick and thin, like: CDA, IMD. Even CHN I imagine a trader would likely be out of by now.

When I get excited by a stock I tend to enter prematurely out of fomo, like the first KWR 0.21 entry, then I take  a more sober chart based approach to accumulate. As long as I retain confidence in management I have no problem averaging down, in fact I welcome the opportunity. If the chart looks wonky as KWR does, I will still accumulate if have a positive vibe about the 'fundamentals'.
I certainly take an interest in fundamentals and take on information, commentary and views of others a lot but don't stress myself anymore and just pretty much accept my limitations. I'm repelled by rules based, mechanical, systematic, highly technical styles of trading as I have no aptitude and feel no interest.

I might be getting more risk appetite out of boredom or being lulled by how well the market's been going. Plus over confidence due to Chalice Mining windfall and the conviction that we continue to be in a secular bull market in gold.


----------



## Trav. (24 December 2020)

@finicky thanks for your response mate. We all have different styles and I am still finding my way so I am always interested in the way other forum members view the markets or stocks

I wish you well with your investment and hopefully the tide turns with that bloody gold price that is taunting me.


----------



## Trav. (24 December 2020)

Whilst I was looking at this stock and having lived in Kalgoorlie for around 10 years I found the following pretty funny






Sealed roads is a bonus especially since the Goongarrie project is located adjacent the Goldfields Highway   
	

		
			
		

		
	






Menzies whilst not being a major tourist destination it is not in the boondocks and yes it does have water and grid power 
	

		
			
		

		
	







....unbelievable that people put this sort of garbage out, maybe catering for people overseas that still think that Australia has 

kangaroos hopping down the main streets in our city's


----------



## barney (24 December 2020)

Trav. said:


> unbelievable that people put this sort of garbage out, maybe catering for people overseas that still think that Australia has kangaroos hopping down the main streets in our city's




Lol .... I think its all good Trav ...... Personally  I am very un-travelled and don't know anything about the area, even being an Aussie!!  

So I guess they are stating the obvious to the locals, but the non-locals (me included) still need educating. 

PS ... You mean you don't have Kangaroos hopping down the main street .. What the !!??🧐 

PPS  Have a good Xmas🥳


----------



## sptrawler (24 December 2020)

Yes @Trav. maybe they should have mentioned Menzies population. 😂 It could be worse, it could be 80klm north of Wiluna.😜

The best story out of Menzies, is the Town hall clock.  By the way i put a unit in Menzies power station, before it was on the grid in the mid 1980's.

Merry xmas @Trav.


----------



## Trav. (24 December 2020)

@barney yes I am sure they have to cater for all types but it did amuse me 

@sptrawler you are right mate, there are worse places out that way.

Just to bring this back on track for the team, below is a chart showing some potential for a kick up for the 3rd wave in the next couple of weeks.

Also in oversold territory to back up the theory.









Good luck to holders and Merry Xmas to all 🎄  🎅  🍻


----------



## frugal.rock (24 December 2020)

Trav. said:


> Sealed roads is a bonus



I would say, sealed roads and unsealed roads can make the difference of a business failing or thriving out there, and that's just when staying on the track....
Unsealed roads and untimely rain have brought many  ventures undone !
Inexeperience and lack of preparation have dropped many out there.

In a lighter note, Merry Christmas Al.
Cheers.


----------



## barney (24 December 2020)

frugal.rock said:


> In a lighter note, Merry Christmas Al.   Cheers.




Indeed Rock, and Merry Christmas to all and sundry including your good self.  You have been a stalwart of fresh ideas and input at ASF since you joined and JowBlow would no doubt appreciate that!☺ 

PS Who is Al ??  Do I know this guy Al ??   ..... JK😛   have a great day with the family tomorrow.


----------



## frugal.rock (1 February 2021)

Stellar gold grades in Goongarrie Project discovery 

HIGHLIGHTS 

First assays received from inaugural Aircore drilling program at the highly  prospective Goongarrie Gold Project (GGP) include: 

• 6m @ 17.2 g/t Au from 94m within 38m @ 3.1 g/t Au from 62m in KGA038 to end of hole (blade refusal) 

• 4m @ 2.5 g/t Au from 74m within 8m @ 1.3 g/t Au from 74m in KGA 039 (adjacent hole, 60m east of KGA038) 

• These results come from the first 28 angle holes drilled to test to the top of fresh rock with assays pending for another 80 such holes drilled to date

• The holes highlighted are immediately along strike from Ardea’s 2020  Aphrodite North Discovery

• Several of the most exciting GGP targets (A1- A4) under lakes still to be  drilled in 1H, 2021 by track mounted Aircore rig


----------



## finicky (5 February 2021)

Non exec director Jonathon Downes buying a few on market. Not a lot I guess and might just be trying to goose the market but he does already own a few million, not counting options and he *is *a director of other companies he could have put into.

Chart: price is up 10% on low volume at posting. I am mostly expectant that the chart will congest around .20 for a while then break through and move up to .25
Showing relative strength for a goldie in this trying time.


----------



## finicky (12 February 2021)

Got a bid now starting to get filled for another 50,000 @ 0.175
As covered by @frugal.rock  but worth highlighting I think, that best result from first pass drilling of virgin Goongarrie ground is worth upping the ante to me. More results pending. Ed Turner says their best targets are still to be drilled beneath the salt lake but they need a special track mounted rig. Goongarrie could get more exciting than the main game further north, the Menzies Gold Project.

Share price is down hugging the 50 dma


----------



## finicky (19 February 2021)

Still seems like sales season to me for the goldies - maybe I do have a faint streak of contrarianisim after all. My eyes swivelling in all directions: RRL, HRZ, DCN - but I settled on good old KWR for 20,000 more @ 0.165
I see the 0.16 bid being worked through now, typical.
Previous chart reading a miscall obviously, I'm going to put that down to a change of sentiment brought on by the plunging gold price rather than obtuseness on my part.


----------



## finicky (9 March 2021)

I keep averaging down and the price keeps dropping. Sitting bid hit right out the gate this morning for30,000 @ 0.15, price now 0.14. Put another bid in for 20,000 @ 0.135

Good update on Monday. More open pittable shallow gold announced at indicated resource level. Using the cash income results that HRZ got from their trial mining at their Boorara project, KWR could hypothetically make substantially more cash than their market capitalisation from contract mining and toll milling of say 2/3rds of the current indicated resource. The grade looks higher than that mined at Boorara. I might try to find some numbers if energetic enough. There's a number of mills accessible from the Menzies gold project location. The project straddles a major sealed road, has mining leases covering the deposits, with water and power sorted.

I sent an email query to CEO Ed Turner this a.m, indicating I was sheeting myself that I might have been buying prematurely considering that 20,000,000 shares are to be unleashed from escrow on Mar 18 but he kindly replied immediately to effect that the 20,000,000 shares all belong to Horizon Minerals. The parcel was part of the acquisition cost from 18 months ago for the Menzies and Goongarrie Projects.Turner well  knows the disposition of the M.D of Horizon, Jon Price, since Mr Price is also a director of KWR and Mr Turner said he does not believe that there is any intention by HRZ to sell at this time and HRZ is a supportive major shareholder. The other concern I suppose is the possibility of an imminent capital raising, which I didn't ask him about obviously. I think there is also still some money due to HRZ as part of the said acquisition transaction.

Yesterday's announcement


----------



## finicky (26 March 2021)

Yikes, KWR @ 10 cents per share, guess I should have listened to the skeptics.







Company thinks the scoping study for a 31 month contract mining and toll milling campaign is "robust". My guess is, it is, but market sentiment and s.p  actually becomes a 'fundamental' factor when you're intending to raise $20M via mostly equity for upfront working capital.

All up costs are thought to be 1,700/oz and they're counting on a received $2,300/oz gold price. Mid range EBITDA for the whole campaign predicted to be $79M. Not bad for a currently $16.5M market cap minnow, if they can pull it off, but at what dilutionary cost will it be to shareholders?

For 5 months they'll just be chewing through that working capital, thought to max out at $13.5M at the 5 months level, then production pay starts to overhaul costs for a breakeven point at about 10 months along the 31 months pathway.


----------



## finicky (26 March 2021)

In the pit of gloom, placed a stink bid  for 30,000 more @ .085 last night but KWR roaring back today with 2M volume and up .005 to .105 🌈


----------



## Sean K (26 March 2021)

finicky said:


> In the pit of gloom, placed a stink bid  for 30,000 more @ .085 last night but KWR roaring back today with 2M volume and up .005 to .105 🌈




This is an interesting play finicky. Dig up stuff under old mines and cart it to someone else's mill for processing.

Is this actually a good plan? 

Maybe they should hire some Uber drivers to move the ore. UberGold. 

*Mineral Processing *

Kingwest Resources has had preliminary discussions with multiple parties regarding the potential future treatment of the mined material in order to estimate toll treatment milling options and costs. A review of recent toll treatment terms was also conducted by independent consultants GDL Pty Ltd on behalf of KWR for the Eastern Goldfields locality, that includes Menzies, to estimate reasonable toll treatment options and costs for the Menzies resources. A unit treatment cost of $44/t has accordingly been applied in this study. Additional to this the state gold royalty (2.5% of gross revenue) and a gold refining cost of $15/oz has been applied to generate the Net Revenue figure. 

*Material Cartage *

The mined material from the eight open pits will be hauled to four ROM pads located along strike within 7km north/south. Mine geologists will designate the material classification during mining and material dumped separately into HG, MG and LG stockpiles. The ROM storage pads will all be located within 500m from the Goldfields Highway with access provided by well-maintained dirt roads. The study plans for a separate cartage contractor to be engaged providing machines and manning to achieve the outlined delivery schedule. The most likely employed haulage machines will be road trains with four side tipper trailers capable of a payload of 125t per trip and an average speed of 80km/hr. 

The study has assumed an average cartage distance of 100km with an estimated unit cartage rate of $11/Wmt plus fuel ($12.75/Wmt including fuel). It is assumed the material cartage will be carried out on a continuous 24 hours basis with drivers on a two weeks on one week off roster. Each employed road train will be capable of four trips per 12 hr shift and 30kt per month. A maximum monthly cartage rate of 210kt/mth has also been applied assuming no more than seven road trains are being employed for any single period.


----------



## finicky (26 March 2021)

Yeah so the scoped mining plan is to open a few new pits and cut back a couple of old pits to get some money into the company for the deeper diamond drilling under historic high grade shaft mines that average less than 200 metres of depth.

Schematic of the 1990's pits and historic shaft mines showing u/g grades and ozs in blue






Open pit mining ceased in 1999 and inveterate goldbugs know about the untempting price of gold back then and the understandable deep lack of interest in mining it. The Menzies gold field was one of W.A's best and it wasn't abandoned because of lack of gold. The pits themselves have had no deep drilling done (that I know of), all the Menzies drilling so far has been to extend or infill shallow open pittable resources on a path to contract mining and toll milling. The ore in the scoping study sounds excellent, they expect open pit mined material to be 1.7g/t but will be selecting out higher grade stuff for the toll mill at 2g/t.  Gold recovered at mill from ore is expected to be 95% for 147,000 ozs.

The deep drilling underneath the historic shaft mines will be for the big prize(s). As said, these old shaft mines were only < 200 mtrs deep on average; the deepest was 600 mtrs and they pulled an average 22g/t Au out of them. They were abandoned in 1943 , WW11, water ingress, gold prices, under capitalisation and I would guess manpower were issues. Most of these assets will have deep drilling for the first time and will have the benefit of modern drilling and targeting technology. They will also be looking for analogues, along strike and parallel, probably under cover.

But first the money - from the pits.


----------



## finicky (26 March 2021)

Moved my bid up to 0.10 and that is definitely not construable as advice
I just found myself very convincing, lol


----------



## finicky (30 April 2021)

Gee, KWR spent almost all its money during the March Quarter on drilling and payment for the independent scoping study for the Menzies Gold Project (MGP) open pits. They have less than a quarter of cash left!

However in the comments they now say they are considering *a sale* of the MGP resources as well as the long mentioned  option of contract mining and toll milling. The scoping study estimates a free cashflow range of $95m - $64m for the higher grade material in the scoping plan. So if they succeeded in selling that resource to a second party surely KWR could get *+$20m* out of the deal? KWR is market capped at only $18m. A sale would pump the company for drilling its tantalising Goongarrie project and hopefully KWR would still keep ownership of most of the MGP including the u/g propects. Living on hopium these days.

"*Corporate discussions regarding ore treatment and/or sale of KWR’s Menzies gold Resources have been initiated with numerous parties*"


----------



## Dona Ferentes (30 April 2021)

finicky said:


> The best place to look for Gold is under the head frame of a shaft mine in an abandoned 100 year old gold field.🎓⏳




or do a Trump and drain the swamp  (not ASX listed, unfortunately)


> Suggestions from locals that the owners of the Beaconsfield Gold Mine in northern Tasmania search a nearby contaminated wetland could lead to a $30 million windfall.











						$30m gold find in swamp after tip from locals
					

When the new owners of a Tasmanian gold mine heard a tip from town locals they would do well to check out the nearby swamplands, they took a look — and are very happy they did.




					www.abc.net.au


----------



## finicky (5 May 2021)

Volume almost totally dried up. You'd think KWR was in a trading halt if not looking closer.
I have just put in a bid for 30,000 more shares @ 0.105 which is the the highest level of bidding atm.

This is trading day 3 after the company revealed in the Qtrly resport that cash is down to $800k and it is in talks to do an equity raise or an asset sale. Wouldn't this normally induce selling? Why isn't the market for KWR nervous? Everyone's just sitting around. Maybe there is a belief prevailing that a deal to sell the open pit resources at Menzies is the more likely scenario. I mean, you wouldn't be selling your shares in an $18M market capitalised company if you believed a $20M sale*** of an asset might be imminent.
*** this is purely my tentative figure and speculation

I emailed the CEO who proved accessible for a past query. Merely asked what exactly was meant by a "sale of the Menzies gold resources", if he was able to answer that. It can't mean sale of the whole MGP tenement(s). What I would have loved to ask is which financing option is the more probable - sale of resources or an equity raising?


----------



## finicky (6 May 2021)

Bid in for another 30,000 @ 0.10
Becoming an uncomfortably big punt now - $40k paid so far and down 38%
Oh, and the CEO Mr Ed Turner answered my email in a typically prompt and affable manner. Confirmed that KWR is canvassing a sale only of some of the currently designed pit shell resource, not the whole shebang of underground prospects, undefined pit prospects and Menzies tenements. Of course that desired course might not happen and the other financing option is an equity placement.


----------



## finicky (12 May 2021)

Well this is going _*just great*_. Hanging out for news about what the capital raising will be - a sale of the resource defined so far, or an equity issue around historical lows. Has the s.p been deliberately worked down by those who will load up in a raise at a depressed price? In for a penny in for a pound, I added 10,000 more @ 10c, then 30,000 more @ 8.9c yesterday. If an equity raise is the way they go, I just hope it includes a rights issue. 

Daily


----------



## Sean K (12 May 2021)

finicky said:


> Well this is going _*just great*_. Hanging out for news about what the capital raising will be - a sale of the resource defined so far, or an equity issue around historical lows. Has the s.p been deliberately worked down by those who will load up in a raise at a depressed price? In for a penny in for a pound, I added 10,000 more @ 10c, then 30,000 more @ 8.9c yesterday. If an equity raise is the way they go, I just hope it includes a rights issue.




Should see finicky in the Top 20 holders soon. eeeeek. Good luck. Surely there must be an uptick soon.


----------



## finicky (27 May 2021)

At last, trading halt due to capital raising.

From presentation a couple of days ago:


----------



## finicky (31 May 2021)

Well the totallly accurate grapevine news was out over the weekend on another forum preempting today's asx announcement of a $3m capital raising for Peleton Capital's clients @ .08 a share with a free attached half option (ex 0.15). No SPP or R.I. My remaining hope to benefit from this situation is that the March Qtrly cashflow remark (highlighted in yellow) remains meaningful, and conceivably they *might* still be negotiating to sell some of our assets (the modelled pit shells in the scoping study) to obviate too much dilution. To develop all these pits themselves by contract mining and toll treatment would require more than $21m upfront.


----------



## barney (3 June 2021)

finicky said:


> Well the totallly accurate grapevine news was out over the weekend on another forum preempting today's asx announcement of a $3m capital raising for Peleton Capital's clients @ .08 a share with a free attached half option (ex 0.15).




Been a tough old road for you this one @finicky  

I think the Cap Raise has set the LOW and just under 9 cents might show some fight.

I hope so for your peace of mind


----------



## finicky (3 June 2021)

I suspect that was leaked placement info capitulation type selling that took it down to 8c @barney 
The CEO has hinted by email reply to me that shareholders should expect strong news flow now that the company has drilling funds. However that will compete with any fickle placement clients of Peleton Capital, so I have a bid in at .081. I agree that .08 should bear the strain


----------



## finicky (23 June 2021)

Still going *just great*. Got long awaited sitting bids for another 70,000 @ 0.081 filled yesterday, now price is 0.079. The way the equity raising was handled without a look in for shareholders has shaken my faith in management. When I emailed the ceo after the placement announcement he didn't even echo disappointment. The placement @ 0.08 + half a free option went to the ipo broker of KWR who has a brother on 'our' board - things that make you go hmmm..

All Data Daily


----------



## barney (23 June 2021)

finicky said:


> Still going *just great*. Got long awaited sitting bids for another 70,000 @ 0.081 filled yesterday,




This looks so over sold given their Projects/Market Cap it makes you wonder what is going on.

I have not had time to dig around the rat traps @finicky . Do you have any info on the HZN (Major S/H) KWR connection

ie. Directors past relationships ... any possible subterfuge that is not obvious at face value?

There are always reasons why the SP trades against gravity at this end of the market

This could end in tears, or it may be the best buying opportunity for a minnow Goldie for the next 2-3 years  

I suspect the current SP will look like a bargain in a years time if the POG stays stable, but I need more time to dig in the dirt


----------



## finicky (24 June 2021)

Sorry for the delayed response @barney

Horizon  Minerals (HRZ) is the major shareholder of Kingwest Resources (KWR) and held more than 19% before the placement dilution. The placement diluted the shares by 20% not counting the attached options. HRZ picked up a chunky 6.25m shares plus options in the placement but that would not have fully sustained their percentage holding.

Jon Price is the M.D of HRZ and is on the board of KWR. How this came about is that HRZ, either in its current form or as the former Intermin  Resources, divested the Menzies ground and other tenements to the newly listed KWR and took a sizeable amount of the transaction in KWR shares.

The safest way to invest in KWR would be buy into HRZ imo, I currently strongly prefer the management and HRZ has cash and investments, a growing resource next to Kalgoorlie and has already done profitable trial mining and toll milling.

KWR could come up with dramatic results from its drilling, I really like the prospects at Menzies and Goongarrie. But I am no expert obviously and frankly have more often been wrong than right with these pure specs  I am very disillusioned by the way the company behaved over the equity raising and looking back, even the email responses could be perceived as a bit vapid and tone deaf if reread in cynical frame of mind. They have shown themselves ready to violently dilute shareholders and deny their natural right to participate and all this with no hint of regret or apology.


----------



## barney (24 June 2021)

finicky said:


> Sorry for the delayed response @barney




Thanks M8.  Appreciate your insights. Will keep watching with interest


----------



## finicky (29 June 2021)

Buying power *surging* into KWR today, ^up 9%

Daily


----------



## frugal.rock (6 September 2021)

6 September 2021 
High-Grade underground JORC gold resource defined  
at Menzies 

• New Yunndaga underground JORC Mineral Resource Estimate (MRE) of 57,000 oz @ 4.6 g/t Au (3.0 g/t Au cut off, fresh rock only) or 79,200 oz @  
3.7g/t Au (2.0 g/t Au cut off, fresh rock only) 
• An 384% increase on March Yunndaga 2021 MRE (using 3.0 g/t Au cut off) 
• Resource open at depth and to the north 
• Total MRE’s at Menzies increased to 475,100 oz @ 1.4 g/t from 446,200 oz @ 1.3 g/t1 
(0.5 g/t cut off) 
• New Yunndaga MRE allows KWR to consider various commercial  
underground mining options, including profit share or toll-treatment


----------



## finicky (6 September 2021)

They've dangled that in front of us before, "considering' profit share or toll-treatment. Before it was for some of the open pittable resources. Understandably low response from buyers. Not all that high grade either.
Holding onto a lame hope for something to turn up under the salt lake at Googarrie. Got their track mounted rig. First results might not be too far off. Downtrend has been decelerating on the price chart.


----------



## finicky (9 September 2021)

Small rounding low on the daily chart with some indicator divergence I s'pose you could add. Probably just fickle spec buyers hoping the best for *Goongarrie* drill results? So will deflate quickly if things don't happen. It was a mistake buying into this because it will be obliterated in a crash as it doesn't have much cash and of course operates at a loss. I remember in student days a housemate in our shared house used to shout rhetorically, "Why am I such a _Fool_?!" and none us had the decency to intervene and say anything.

Daily


----------



## barney (13 September 2021)

finicky said:


> I remember in student days a housemate in our shared house used to shout rhetorically, "Why am I such a _Fool_?!" and none us had the decency to intervene and say anything




Where there is life there is hope @finicky   Sometimes fortune favours the brave    Hope it has turned the corner for you.


----------



## finicky (13 September 2021)

Geologists knee deep in muck barney.
So if I get this remotely right they think the main gold they've found is from 'shedding' of gold infused quartz into an ancient (paleo) alluvial channel, it is in a coarse condition which means it is from a local source not transported and the gold reef(s) should be nearby. They are only aircore drilling so penetration of bedrock is superficial. They point out that this set-up resembles multi million oz Kanowna Belle and Paddington ops locally.

"Kingwest’s interpretation is that there is a large gold mineralising system present at the Sir
Laurence Prospect, which has been shedding gold-mineralised vein quartz fragments into the
paleo-drainage from nearby undrilled quartz reefs to form a Tertiary ‘Deep Lead’ gold deposit.
• The amount of gold present in this Tertiary Deep Lead implies that there is a significant gold
source nearby, the Tertiary erosion of which has dumped into the adjacent paleo-channel, as
was the case with the Deep Leads at Paddington and the Kanowna, *60km and 80km to the 
south *of Goongarrie."


----------



## finicky (13 September 2021)

"Could be massive  ... results matched our model (Kanowna Belle?) perfectly  .. so that's why we're confident"


----------



## finicky (14 September 2021)

Kingwest recently raised $3m for the shocking price of 8c. The issue also provided a free half option ex @ 15c for each new subscribed share. So there are close to 19m unlisted options existing from this plcmt, ex @ 15c 

I assume a significant part of the heavy volume on Monday was placement participants selling while able to retain a stake with the free options - thus likely putting a dampener on Monday's price appreciation

202m KWR shares currently on issue

At 10c share price, market capitalisation = only $20m
Can get in cheaper than option holders if they exercise.

My accumulated average price close to 14cps

Another way into some participation would be to buy HRZ shares which are still at 11c and have often retracted to 10c support. Horizon (HRZ) owns about 18% of KWR.

A caveat about KWR is that they have shown that they are prepared to raise money on attractive terms to connected parties and exclude shareholders. Won't be long before they need more money as they are using a track mounted rig and will soon be RC and diamond drilling deeper holes into Goongarrie.

Also we can't know if the Goongarrie find is significant.


----------



## bux2000 (15 September 2021)

Well @finicky patience and persistence does pay off, I can see the smile on your face from here 

Enjoy

bux


----------



## barney (15 September 2021)

bux2000 said:


> Well @finicky patience and persistence does pay off, I can see the smile on your face from here   Enjoy bux




Yeah ditto @finicky   Its a nice feeling to finally dig yourself out of what feels like a never ending hole!  Lets hope it keeps ticking higher from here.


----------



## frugal.rock (15 September 2021)

I nearly bought on open but had other things on the boil.

Anyway, just for you Finn, I did my little trick every so often today which can help the price along, when there is strength....
I can't say what it is though. 
🤫🤐🤭


----------



## finicky (15 September 2021)

I shudder to think frugal.rock
Wow, I inwardly gave up on this one at the critical point, good thing I am slow to act, lethargic even.


----------



## frugal.rock (15 September 2021)

Nothing illegal Finn, all above board.


----------



## finicky (30 September 2021)

Interview with CEO that is pretty laboured - one of those where it might have been better if everything was cut except Ed's answers. Diamond drilling won't be till a month but still 75% aircore assays to come. Plenty of smoke for a possibly deeply plunging orebody.
Chart might be on the verge of continuing the outbreak - held up well during the recent gold stocks slump - rose glasses on, pole and pennant? We shall soon see


----------



## frugal.rock (30 September 2021)

finicky said:


> Chart might be on the verge of continuing the outbreak - held up well during the recent gold stocks slump



Have had similar thoughts over the last few days, just can't work out what POG is doing.

Not held but watching for continuance.


----------



## frugal.rock (1 October 2021)

Hurrah for @finicky  🍻
Getting up there on low volume.
Hopefully holders remain tight...


----------



## finicky (1 October 2021)

Thx mate, just went into profit which seemed such a low probability a month ago.
Horizon's still cheap (HRZ) - if KWR 7 bags from 0.14 to a dollar, not predicting that of course, but not too outlandish, it would be worth 6cps to HRZ holders I think - HRZ owns 18% of KWR.

Yes needs heavier volume to come in - maybe from the outstanding aircore assays? Doesn't seem enough, must admit. Then again for non holders a good pullback might be an opportunity to punt on involvement. I'm ok with either way as I'm awaiting the RC and diamond drill offensive that's a few weeks off, or the assays from that, more to the point - they could be months off.


----------



## Sean K (1 October 2021)

finicky said:


> Small rounding low on the daily chart with some indicator divergence I s'pose you could add.




I wish I had have been watching this more closely around this time. I really liked that set up.


----------



## finicky (1 October 2021)

I didn't act on that myself @kennas 
Confidence in KWR was pretty much shot at that point


----------



## finicky (6 October 2021)

KWR getting a kick along with a jv gold production announcement today that largely allays my concern about funding and future dilution. This is likely the presence of Jon Price on the board paying off, as he is  also M.D of HRZ and HRZ has done profitable deals with FMR before for toll treatment at FMR's privately owned Greenfields processing plant.

In broad brush strokes, this deal could be worth say $7m p.a to KWR for its 40% of the profits - assumes a margin of $500/oz for 180,000 ozs spread over 5 years. Also we get $0.5m upon signing (b4 30 Nov) and $0.5m at first blast for the decline.

Money for drilling Goongarrie.


----------



## finicky (6 October 2021)

Correction: Horizon (HRZ) did its toll milling with the Lakewood plant near Kalgoorlie. This preliminary agreement with FMR Investments on signing will see the ore being treated at Greenfields plant which is 3 kms from Coolgardie. This is about 175kms from Menzies but all by sealed highway. I would still credit Jon Price the m.d of HRZ and on KWR's board with landing this deal as he is very connected in the eastern goldfields it seems and it is his way of operating. Very surprised to see price pull back to 14c, just 0.005 higher than yesterday as this agreement is fantastic for KWR imo because we now should be funded for all the discovery drilling at Goongarrie. Not to mention that this u/g mining project at the Yunndaga pit at Menzies will bring potentially higher grade deeper mineralisation into play without too much expensive drilling. The Menzies field has historically produced at very high grade at depth.


----------



## finicky (6 October 2021)

Settled at 0.135 after asx closed, so nothing at all in the share price for today's news. One possible explanation is selling whatever's left out of the 38m shares or so from the cap raising @ 0.08. With the range that the s.p has been in the last few days those placement holders have been able to sell at a bagger and even reserve the proceeds to exercise the 19m free options they got for ex 0.15

If KWR receives the profit before tax that I suggested as a ballpark figure then at $28m market capitalisation it trades at about the Net Present Value of $30m for the Yunndaga jv alone. And Yunndaga is just a sideshow, a vital one for funding but its current mineral resource estimate is only part of its prospectivity let alone the whole Menzies Gold Project (MGP) where there are already other pits defined. If this jv is to be successful there is nothing in the current s.p for the undrilled remainder of the Yunndaga deposit, the rest of the MGP and nothing for the possible blow-the-doors-off Goongarrie Gold Project. 

My attempt at a *NPV for KWR's share of the Yunndaga u/g mining jv *- to be taken sceptically, I haven't done it before, and I have ignored tax as it's intended as a rough guide anyway and a lot of the cash flow will be used for exploration, i.e expensed . Also KWR will have tax losses to apply.


----------



## finicky (6 October 2021)

My above estimate of NPV can  dismissed untiI get a better basis for my assumptions, e.g the premiss of a $500 margin - because if Peleton Capital's report (provided by a poster elsewhere) is close to true then I have been wildly optimistic - although I thought I was being conservative. Also, while I have found it nowhere in KWR's announcement, Peleton is saying that our joint venturer, FMR, gets to recover its capital costs before profit sharing starts. That seems reasonable on the face of it,  but from my reading of the announcement part of the deal is that FMR shoulders all capital costs - I haven't found anything about recovery of these costs. I'll go with Pelton's interpretation until I am better informed. Peleton is close to the company as its clients were the ones who got the 8c/share plus free half oppie placement deal.

Quote from Peleton Capital report:

 "Whilst it is early days and with little data to work from currently, we can still nevertheless speculatively envisage free cash flow emanating from this JV being somewhere in the region of* $0.5m to $1m per month* *post* FMR’s capital (CAPEX) recovery."

Also, frankly I missed the part of the announcement where KWR says legally binding sign-off for the jv will be up to 6 months away. Peleton Capital suggests mining won't start until late H1 CY2022. So another capital raising by KWR is not out of the question imo.


----------



## finicky (7 October 2021)

Closed @ 0.13 today
I added 20,000 @ 0.135 today
In for 410,000 now - average ~ 0.14
Be there or be square.


----------



## finicky (12 October 2021)

Cynicism's back again, will be much confirmed if Peleton Capital's clients are back for a second bite after having the opportunity to sell their 8c placement shares for double the price (and keep the free attaching half option). Some detective poster elsewhere said at the prior raising that a KWR director is the brother of Peleton's director?


----------



## finicky (14 October 2021)

Kingwest holding the line at 14c after trading halt lifted

Has raised *$4m* at *0.12* per share which adds *34m* shares to the total and as suspected Peloton Capital again got its mitts on the placement, this time sharing with Euroz Hartleys as joint managers. A further 8m options ex 17c went to the joint managers. Kingwest now has *$5.5m cash* for drilling mega prospect Goongarrie as well as extending and defining the Menzies project.

$0.5m will be paid by FMR Investments when they sign off on the jv mining agreement for Yunndaga u/g at Menzies (6 months away) then $0.5m upon first blast for the decline. Eventually payments will stream monthly to KWR at 40% profit share from the Yunndaga mine *after* FMR has recovered its capital outlay.

The company is strongly alluding to further monetisation deals to come at the Menzies Gold Project.

Counting up the shares, options and share rights now:
243m shares
51m options + share rights
= *294m shares fully diluted**
* exercise of all options would bring approx $10m into the company


----------



## finicky (14 October 2021)




----------



## finicky (14 October 2021)

So those 34m new shares will settle Oct 21, so in a week the brokers' clients will be able to flip. Chances are high on a pullback of the s.p so anyone wanting a piece of the action might be able to get shares soon @ 12c. Be there or be square if that happens.   

Also, correction, the 8m options issued to the brokers for managing this placement are exercisable @ 20c, not 17c as I earlier said. 
17c I believe is the ex price for 17m options issued in Sept to management.


----------



## finicky (20 October 2021)

Dropped a cent to 0.13 today. The placement was at 0.12 and those shares should be in the insider accounts tomorrow. A descent to 0.12 is almost certain and with time, maybe lower. Don't miss out if you like a big spec bet - my average 0.14 and I'm inclined to add.

New Aircore drill already kicked off, 1,000 mtrs diamond across 4 holes in 3 weeks, big 10,000 mtrs RC campaign very early next year.

Someone emailed Ed Turner about flooding issues at a salt lake mine and brought up flooding at 'Lady Goongarrie' mine. He replied that the flooding was due to cyclonic rainfall and being for a small operation the miner had taken a chance and saved capital by not building a retaining wall with pumps and a channel on the outside. Elsewhere, salt lake mines have been successful in the region, St Ives was one he mentioned. The resource would have to be 1+ million ozs and higher grade to be economical. Something of which they obviously hopeful, ("it could be massive" he said elsewhere)


----------



## finicky (31 October 2021)

I picked KWR for the November tipping comp as I drew no better idea from the stocks of which I am familiar. Price boosting announcements are more likely to come *after* November.

However I pin some hope on another monetisation deal over current Jorc resources at the Menzies Gold project. Or maybe something visual (pre lab assays) emerging from the four exciting diamond drill holes planned in November to test the bedrock below the previously announced Lake Goongarrie aircore discovery - see the highlighted items from the recent update. I guess the ongoing aircore drilling could also throw up something fresh.

Other than that, the chart is not an impossible chance of consolidating here before another impulse move although I do not favour that scenario yet. There  might be enough anticipation left for speculators to decide to get themselves set before results. Undecided. Any enthusiasm in buying will have to overcome profit taking from the recent placement to insiders @ 0.12.






Daily


----------



## finicky (1 November 2021)

As anticipated, shares have changed hands @ 0.12 today which is the price that clients of Peloton Capital and Euroz Hartleys got their 34m placement shares at. There's a build-up of buyers @ 0.12 but they will likely to be chewed up soon and a bid at that price should land some shares at the same price as the insiders.
I have placed a more ambitious bid for 40,000 down @ 0.105 where there is a gap. I just think it's not impossible that the new heavy supply will chew up any demand and then stop losses could kick in. I remember the last placement @ 0.08 eventually had this effect and shares could be bought on market at less than 0.07.

Diamond drilling into the Goongarrie Lake basement rock beneath the 'deep lead' gold bearing gravel is scheduled this month, November, and they're not drilling for peanuts, they're on the hunt for a +million oz Kanowna Belle analogue.

From the recently published Qtrly:

*"Initial interpretation of the gold system at Sir Laurence suggests that there is a large bedrock gold deposit present, which has acted as the gold source for an overlying and adjacent ‘Deep Lead’ alluvial gold deposit. 
These Tertiary deep leads commonly accompany the Yilgarn Archaean reef gold deposits, and were formed where locally derived, high-grade, vein quartz gravels were eroded from outcropping quartz reefs and then dumped into the adjacent alluvial channels. Nearby examples include the previously mined rich deep lead gold deposits at Paddington and Kanowna."*


----------



## finicky (1 November 2021)




----------



## finicky (11 November 2021)

This is holding up remarkably well given the recent placement of shares @ 0.12.
Being cynical, maybe the insiders in the placement got the good oil not to dump their shares too quickly.

Aircore drilling has been ongoing on Lake Goongarrie.

FMR, the partner for the proposed Yunndaga underground mine at Menzies was diamond drilling at the end of Oct and the CEO said in his interview that they would be drilling "for another few weeks". That was to be 6 diamond holes, mostly for investigating the u/g conditions to eventually position their decline, but who knows what they'll find. Kingwest has identified multiple shoots beneath the Yunndage pit but only one was mined, Princess May, 85 years ago and the operators back then pulled out 270kozs *@ 16g/t *

Four diamond holes is to be drilled into Lake Googarrie this month too.

Perhaps there will be more monetising jv deals done on the remaining Menzies defined open pit deposits, the CEO has been hinting that they're trying to get more deals done like the one on Yunndaga.

Alternatively though, maybe a trap-door will open beneath the complacent soon and the placement holders will dump when there is enough build up of offers. That is what happened after the prior 8c placement, the share price held on for quite a while but then the selling was relentless and sent the s.p below 7c. Much more potential for news now than back then.


----------



## finicky (16 November 2021)

Extended the strike to 600 metres south of the original discovery and reconfirmed that the gold assays in the alluvial gravel (deep lead) comes from high grade gold bearing quartz reefs which were once outropping before being covered by lake sediment (screenshot 2).

*Huge Potential at Lake Goongarrie Gold Discovery*


----------



## finicky (16 November 2021)

Gap up, strong volume for lunch-time
Could loosely interpret recent consolidation as a messy flag - low volume stock and 12c placement interfering with shape.
20c not unreasonable target b4 week is out imo. Not that I care too much ST as this has possibility of a lotto hit?

2 Yr Daily


----------



## finicky (18 November 2021)

Up 22% b4 close
I tried to help you 🕯️
_Huge Potential at Lake Goongarrie Gold Discovery_


----------



## debtfree (18 November 2021)

finicky said:


> Up 22% b4 close
> I tried to help you 🕯️
> _Huge Potential at Lake Goongarrie Gold Discovery_




Do you think it will fill in this Tuesday's gap by next Tuesday @finicky?


----------



## finicky (18 November 2021)

I favour a breakaway gap like last time (i.e a non fill)


----------



## finicky (22 November 2021)

Our understated CEO looks and sounds relaxed.
Good chance of more Goongarrie aircore drill line assays being released before November is out.
Diamond drill rig has just moved to the site today so not expecting any news this month from that. Maybe some anticipatory fomo buying though? Buyers still swimming against the tide of 12c placement profit takers though, I assume - also the earlier 8c placers?
Mý only remaining cards for the Nov comp are something visual (pre-lab) from the diamond drilling by FMR jv partner beneath the the Yunndaga pit at Menzies (should be well advanced by now) and a long odds announcement re another monetisation deal at the Menzies project. 

Of course, comp wise, I pray to my personal God for that penny deadful Lepidico (LPD) to fall flat on its face from some mishap but that LPD chart is not looking good (for me). Break up from a pullback?


----------



## barney (27 November 2021)

Well well well ..... Haven't been on ASF a lot in recent times but just had a squiz at Kingswest

I love it when patience pays off .... It can be tough at this end of the market

Well done @finicky    ......  Just remember which mates were backing you when the chips were down,

Particularly when delegating where the complimentary bottles of Jim Beam are to be distributed, lol 

ps I don't mind the cheap "Nelson bourbon" as well   ... I am a simple man

Well done M8 .... Glad to see this turn around for you.   Generally pays to trust your research at this end of the market!


----------



## finicky (14 December 2021)

There goes my Dec comp entry.
Bad and good news for the legions of KWR followers - sounds like that's all for the year.

The diamond drill rig on Lake Goongarrie got constantly bogged and they weren't able to do a single hole. Now we have to wait for Q1 2022 for deeper info on the bedrock mineralisation and they will use a better suited rig on tracks that has been acquired.

Further aircore results are in: significant mineralisation has now been found in all 14 drill 'fence lines' along the Sir Laurence strike which has now doubled to 2 kilometres of length. SL is seen as open in all directions.

Outside the Sir Laurence footprint, 1.5kms west they got a hit of 8m at 5g/t from 12m depth - possibly a new discovery.

Overall score - *disappointing* because of the aborted DD campaign and also no news from our potential jv partner (FMR Ltd) as to their DD progress beneath the Yunndaga pit and whether they will commit to the funding deal which is essential to KWR capping its dilutionary share issuance.


----------



## finicky (21 December 2021)

KWR down to 16c
Not much interest at that level either. Biggest chunk of buyers are bidding at 0.155 - 0.145 
My stink bid down at 0.145 coming into view!
Even at that price the remaining 12c placement takers are holding at a decent profit.
Only potential near term news that I can think of that might turn it around is confirmation of a joint venture over one of the Menzie's deposits. Slim chance near term.
Chart's not too bad imo.


----------



## Sean K (21 December 2021)

finicky said:


> KWR down to 16c




You picked the right month to have this in the monthly comp!

Edit: oh crap, you picked it for Dec too.... eeeek


----------



## finicky (3 January 2022)

Hmm KWR, KWR .. what to say about this pick. Well the chart has sure improved which is hardly a benefit in the comp. The last chart I posted showed the worst of it and the full red candle morphed into a huge reversal hammer candle by end of day. Since then the price has rallied out of the downtrend and looks ok for the short term.

Of course progress for the year will depend on all the forms of planned drilling on Lake Goongarrie: AC, RC and Diamond for which the company is well funded for the year. Campaign really kicks off in January and holders are dying to get more information, particularly from diamond drilling, as to what in the bedrock has been feeding the water eroded, gold bearing gravel in the discovered deep lead beneath the lake cover. They think the source could be directly below or very close. They have invested in a specially adapted track mounted drilling rig to do the job since the first rig used was getting bogged in lake sediment. Should result in heaps of news over the year.

For the upcoming year I also have hopes for progress at the Menzies Gold Project north of Goongarrie. They will be doing some drilling at MGP too but my greater anticipation is a second party deal or two to be finalised for joint venturing some of the gold resources already delineated by Kingwest. FMR Ltd, which has its own mill at Coolgardie, has already shown tangible interest but I get the feeling they are dragging their heels. Success at joint venturing could fund KWR's drilling bills for years to come - that's the dream anyway. AIMO.


----------



## finicky (28 January 2022)

Yesterday might have been the best opportunity to get some chips in this goldie super spec (as I see it).
I started accumulating @ 0.215 fifteen months ago, my average .14, and after all the mind blowing news about Lake Googarrie, punters could've bought a stake @ .17. Of course I could be wrong, caveat emptor.
The delay in getting started with the diamond drilling on Goongarrie is annoying, as is the failure so far to conclude any jv deals at the Menzies Gold Project (separate to Goongarrie)

Daily


----------



## Sean K (28 January 2022)

I'm not sure what you see in this one @finicky ?

Their best highlight for the quarter was 8m @ 5g/t... Who's to say though, that might lead to something, but ....

What's the delay with the diamond rig? Is there a shortage?


----------



## finicky (28 January 2022)

@Sean K, they've acquired a specialized dd rig for drilling on soft salt lake surfaces. Not sure of the reasons for delay apart from previous rig getting bogged.
As for what I see, have you read any posts or announcements. This is a previously undrilled prospect in Kalgoorlie terrane. They've only used aircore so far so only got a sniff if the bedrock below lake sediment. But every hole has come up with significant mineralisation and this is over a large area. The samples of gravel below the sediment are highly suggestive of a 'deep lead' from a reef nearby, if nor directly below. The gold bearing chips are angular and large suggesting they have not travelled far. This is analogous to the tier one Kanowna Belle deposit in the locality where a deep lead was initially discovered beneath cover. I believe I am right in recalling that their expert Geology consultant said that salt lakes occur for a reason - implying I believe underlying past water movement. Anyway we will see, I have punted 410k shares.


----------



## finicky (28 January 2022)

*The Bardoc Tectonic Zone Gold Endowment*

The Goongarrie greenstone belt lies on the northern sector of the Bardoc tectonic Zone (BTZ).  This is an intensely gold-mineralised regional shear zone that runs from the Kalgoorlie in the south, where it forms the Boulder Lefroy Fault (BLF), to Menzies in the north.  The BTZ is part of a complex zone of gold-mineralised strike-parallel regional shears that traverse the Kalgoorlie Terrain greenstones of the Norseman-Wiluna belt.  From Kalgoorlie to Menzies it is the locus of numerous large gold deposits with a total gold endowment of over 90Moz.  *At Goongarrie the BTZ passes beneath salt lake cover*, in a similar manner to the BLF south of Kambalda.  This section of the BTZ has been notably overlooked by previous explorers, but as with the BLF at Kambalda, *it may be equally well mineralised*.  The recessive weathering and salt lake cover may even be indicative of this.








						Kingwest Resources Limited | GOONGARRIE PROJECTS
					

Kingwest resources Ltd has provided programs and budgets for the mining exploration in Menzies region.



					www.kingwestresources.com.au


----------



## Sean K (28 January 2022)

finicky said:


> @Sean K, they've acquired a specialized dd rig for drilling on soft salt lake surfaces. Not sure of the reasons for delay apart from previous rig getting bogged.
> As for what I see, have you read any posts or announcements. This is a previously undrilled prospect in Kalgoorlie terrane. They've only used aircore so far so only got a sniff if the bedrock below lake sediment. But every hole has come up with significant mineralisation and this is over a large area. The samples of gravel below the sediment are highly suggestive of a 'deep lead' from a reef nearby, if nor directly below. The gold bearing chips are angular and large suggesting they have not travelled far. This is analogous to the tier one Kanowna Belle deposit in the locality where a deep lead was initially discovered beneath cover. I believe I am right in recalling that their expert Geology consultant said that salt lakes occur for a reason - implying I believe underlying past water movement. Anyway we will see, I have punted 410k shares.




I have read their last few anns and latest presentation. Only been following for the past two months but haven't done enough work to understand it. They're in a prospective corridor but when I looked at their current JORC and recent assays they don't seem to be either coming up with bulk tonnage or the historical grades, especially at Menzies. I will keep doing my own research, you have me interested.


----------



## finicky (6 February 2022)

KWR Horrorscope:

Chart is suggesting a bullish triangular consolidation after a two legged rally. All gap ups remain unthreatened. Triangle will fail if price drops below 0.165 and doesn't spring back. The ordinary gap at 0.145 back in November might then be filled. Not expecting that. There's really nothing wrong yet in the way that the chart is evolving that I can see; it just tries the patience. The quiet drifting periods often turn out to be the opportunity, CNB a case in point recently, but I have enough of a stake now.

The outlook is for aircore drilling on Lake Goongarrie and soon diamond drilling. There might be word from FMR Investments Ltd, the owners of the Greenfields processing plant, as to whether they want to proceed with mining the Menzies Yunndaga jv. That scenario is getting rather stale though, FMR Ltd seem to be behaving the way the Chinese tend to after they form a non binding agreement.

The big one for stimulating the share price will be the Lake Goongarrie *maiden Diamond Drill campaign* starting some time this month. But who knows how long before lab assays? Maybe something visual but that's not explicitly expected - these diamond drills will be the very first ever to explore geological structures of the bedrock below the salt lake.

Less anticipated is the extensional *aircore campaign* which *has already commenced*.

Quote Feb 1:

"... the planned initial 3,000m *diamond core drilling* program is 
scheduled *to commence in February* 2022, with a new customised drill rig
already onsite. This will be a critical programme in delineating the primary 
mineralised controls within Sir Laurence so we will be in a position to 
potentially define economic gold resources in the future”

Held
Hold

Daily





Monthly


----------



## finicky (10 February 2022)

Not a lot of interest in KWR but triangle on chart still shaping up nicely for a breakout if there is good news.
Interview on Small Caps out with the CEO saying he can't wait to see Lake Goongarrie diamond cores - they're at least a few weeks off though as DD doesn't start for 2 weeks, assuming no further delay. Aircore drilling is more than halfway through with all traverses seeking to *extend* the boundaries of the mineralised footprint which is open in all directions.

He spent quite some time on the nickel sulphide prospect on the east side of the lake. There have been two Ni deposits found by others along the 'Highway' ultramafic unit of which KWR holds 11 km within its tenements.
KWR has aero electromag maps to be guided by as it does initial aircore drilling which will follow on soon. Very nearby south of its tenements is the 'Saints' deposits which have an Au *equivalent* of 1/4 million ozs gold @ 8g/t (all nickel I should emphasise). 15km south is the concluded 'Scotia' NiS mine which produced 30 kt of Nickel.


----------



## finicky (25 February 2022)

Tacked on 20,000 @ 0.17 for some shopping therapy. 
Still of a mind that the price chart is consolidating within a triangle awaiting drilling information. I guess this would be invalidated by a close below 0.165 unless it rapidly recovers. Volume is tiny. 

Aircore on Googarrie has been going on for weeks and the truth telling DD campaign is imminent if not overdue.

Quote Feb 1:

"... the planned initial 3,000m *diamond core drilling* program is
scheduled *to commence in February* 2022, with a new customised drill rig
already onsite. This will be a critical programme in delineating the primary
mineralised controls within Sir Laurence so we will be in a position to
potentially define economic gold resources in the future”


----------



## Sean K (25 February 2022)

finicky said:


> Tacked on 20,000 @ 0.17 for some shopping therapy.
> Still of a mind that the price chart is consolidating within a triangle awaiting drilling information. I guess this would be invalidated by a close below 0.165 unless it rapidly recovers. Volume is tiny.
> 
> Aircore on Googarrie has been going on for weeks and the truth telling DD campaign is imminent if not overdue.
> ...




Just sitting on that support line, hope she holds. I'm completely surprised that gold tanked from the peak overnight with so much uncertainty after Vlad's little expedition south. I thought we were off to the races and $2K was going to fall as early as today.


----------



## finicky (25 February 2022)

Imo there's no good reason that KWR should be affected by fluctuations in gold. It is teetering on the edge of a major, blow the doors off gold discovery - or not. 
The price dropped off .165 to 0.16 within minutes of me posting.


----------



## finicky (28 February 2022)

Yet another *delay* in the commencement of diamond drilling at Lake Goongarrie. Confirmed in email reply from the CEO on Saturday. Covid border closure causing manpower/supplies issues.

I now believe that *0.17* was the critical support for an optimistic (symmetrical) triangle scenario. Since the pattern is now busted I think that there's an actionable chance that price will break lower when the market is informed of the DD delay. The CEO said they'd just found out and didn't view it as worthy of a specific announcement on its own. Very surprised by that as it certainly affects my buying intention for one. I put in a bid down at 0.14 in case price fills the gap @ 0.145 and overshoots.

Also, here is his explanation of why the salt lake is prospective by very reason of being a salt lake:



> The reason I said the salt lake is there for a reason is because it sits on top of a set of major structures (in particular the D4 set of NW-SE trending faults I have shown in numerous diagrams, these faults can be the conduits for hydrothermal mineralised flows). Deep weathering of the bedrock preferentially follows the structures and so a large deep river system developed flowing from west to east. It eventually made its way to the ocean which at the time covered the Eucla Basin to the east of Goongarrie and Kalgoorlie. In more recent times sediments filled the valley and with the current climate this became a salt lake due to the lower rainfall and higher evaporation rates. You see something similar at Kambalda where there are large gold deposits under the salt lake


----------



## frugal.rock (3 March 2022)

3 March 2022

Sir Laurence Gold Discovery Continues to Grow

 62 aircore holes for 4,065m prove further extensions to the 
Kanowna Belle style Sir Laurence Discovery at Lake Goongarrie

 Significant bedrock mineralisation in three different host rocks over + 2km strike length and +1km laterally

 Significant gold intercepts on every line of drilling, including:
24m @ 0.6 g/t Au inc. 4m @ 3.2 g/t Au in KGA0811
13m @ 0.9 g/t Au inc. 1m @ 4.5 g/t Au in KGA0781
4m @ 1.0 g/t Au in KGA0782
3m @ 1.1 g/t Au in KGA0799

 Mineralisation remains open in all directions

 Initial, expanded 4,000m diamond core drilling programme  to follow


CEO, Ed Turner commented “This extensional aircore drilling has continued  
to grow the Sir Laurence Gold Discovery and we have still not defined the limits of gold mineralisation. 
It is very encouraging to intercept bedrock mineralisation as well as alluvial gold mineralisation over such a large area and in different host rocks. 
This demonstrates the significant size of the  
mineralised system and the growth potential remains. 

The planned initial diamond core drilling program has been expanded to 4,000m as a result of these successful aircore drill results and a further expansion is foreseeable. 

However, the start of the program continues to  
experience delays due to ongoing Covid related personnel and equipment  
related issues which are being experienced across the industry. 

Drilling will commence as soon as the necessary lake terrain modifications to the rig are complete. 
This next phase of drilling will be a critical programme in delineating the primary mineralised controls within Sir Laurence so we will  be in a position to potentially define economic gold resources in the future.”


----------



## finicky (21 March 2022)

KWR understandably being dumped by impatient money today as it has been announced that the DD rig commencement for 4,000m at 'Sir Laurence' hot Au prospect at Lake Goongarrie has gone out to "several weeks" away. Price currently down +5% and has been lower. I extended the expiry of my bid for more shares @ 0.14 in case there's a collapse of interest. Chart looks weak but so far 0.16 has held as support for closing prices.

The delay of the diamond drilling has been buried in the announcement of the completion of the maiden aircore drilling campaign along the 'Highway' ultramafic sequence which is on the eastern side of the lake and is strongly prospective for Nickel Sulphides. Immediately south of this area of drilling are the 'Saints' NiS deposits (1.05mt resource @ 2%Ni)  and 15k south is the historic 'Scotia' NiS mine operated by WMC in the seventies (produced 31kt Ni and left a reserve of 17kt Ni due to mine collapse - all from ore grading above 2% Ni)
Assays awaited


----------



## frugal.rock (6 April 2022)

Probably jumping the gun here @finicky but KWR made me stop and look this evening when scanning price moves... there's a whiff of something in the air I feel? (not a bad whiff I might add 😉...)


----------



## finicky (7 April 2022)

Just no serious volume though @frugal.rock, I am looking at the chart pattern now as having morphed into a rough falling wedge as punters await the perpetually delayed DD rig's arrival to test the bedrock structures below the 'deep lead' buried alluvial channel under the lake.
I've lapsed into disinterest again though - looking for NiS on the Eastern side of Lake Googarrie isn't doing it for me. Last time I got disenchanted with KWR was when the big news of the Sir Laurence discovery hit.


----------



## finicky (11 April 2022)

They weren't looking for gold on the eastern side of the lake but they have hit weak grades on 6 out of 14 lines of shallow aircore. The assays for nickel are awaited.
At last the DD rig is on site and operative over the Sir Laurence prospect. This is the biggie - hoping for a 'Kanowna Belle' analogue.


----------



## finicky (26 April 2022)

KWR held well today considering misery in the rest of the sector. Announcement was just an increase in MRE's for the pits they've modelled at the Menzies Gold Project (MGP). Mineable resources now at 500kozs and 34kozs was added to the Pericles deposit at a cost of $5/oz. They're still looking to sell or jv parts of the MGP.
Anyone who follows KWR will know that the MGP now plays second fiddle to prospects for the Lake Goongarrie project about 40k south of the MGP. Diamond drilling is ongoing at the Lake.

The daily chart is showing a bit of a rounding low effect and momentum indicators have been trending up.


----------



## finicky (12 May 2022)

Yep, slow going, nothing to see here for a while.

Three prongs: 

DD at Lake Goongarrie, might see first results in a few weeks. He warns that it's a big mineralised footprint under which they are trying to locate the primary mineralisation. That sounds a bit lower key than prior comments. Managing expectations?
Still trying to swing a deal over the Menzies Gold Project assets. For sale or jv.
Low priority investigations into Nickel prospects in the 'Highway Mafic' unit on the east side of Lake Goongarrie which hosts known commercial Ni deposits.

Time ticking, KWR shares could get cheaper.


----------



## finicky (17 May 2022)

Might close @ 0.155, 19% up today.
I am starting to feel *hubris* return.
You might have dipped out on ample opportunity to bag this spec @0.13 which is 1 cent lower than my painstakingly accumulated price.

Daily


----------



## finicky (26 May 2022)

Unreal - back to my average buy-in price and actually dipped to 0.135 intraday. I am perplexed but maybe there is something I am not getting. End of financial year selling? Initial visuals from diamond core on Lake Goongarrie disappointing and leaked? To think this is my May comp pick; the shame.
They have just had encouraging first pass aircore drilling results for Nickel on the east side of the lake and diamond drilling has resumed after mechanical delays on the potential company maker gold prospect (Lake Googarrie) WTF?


----------



## finicky (30 May 2022)

My pick for the June comp.

I went back over some posts I've made here and this is turning into an unintentional comedy thread.
A comment from an experienced speculator elsewhere switched a light bulb on for me and I now think it's likely that a capital raising is approaching. Best hope is that positive results come in from the DD at Lake Goongarrie beforehand. But with the plummet in price in early May - from 0.20 to 0.125 in just over a week someone informed might be betting that drilling results wont precede the cap raise.

Our board is much too close to its main capital raiser, Peloton capital. Small shareholders remember the strange torturous grind down of the share price in the first Half of 2021 where the company was forced to raise capital in May 2021 through Peloton at a very low $0.08 with the insult of a free half attached option thrown in. They only raised $3m and I think that was before Peloton's fee. 

So now its a year on and how much cash is left? I notice that in the recent Preso (May 23 2022) where at the front they do the usual 'Company Overview' they don't even mention their cash position - see screenshot thumb. Like an investor doesn't want to know the cash position of a junior explorer from a Preso - its one of the first things you want to know. Then there's the mere fact if doing a preso anyway - it's so often portends a cap raise.


----------



## greggles (30 May 2022)

finicky said:


> So now its a year on and how much cash is left?




According to the most recent financials, they had $3,222,000 in cash and cash equivalents at the end of the March quarter. They burnt $1,275,000 in cash in the same quarter. So presuming that they have burnt a similar amount of cash this quarter they are likely to have ~$2,000,000 at the end of June, possibly a little less than that.

So yeah, they will have to raise capital soon. Some good drilling results would be nice before then. Looks like assay results are due in June from diamond drilling at the Sir Laurence Gold Discovery. Hopefully the results are good.


----------



## finicky (31 May 2022)

Yes, you're right @greggles - I should have done more refreshment of my reading before posting that. I forgot the subsequent placement 14/10/21 where they raised another $4m before costs through Peloton and Euroz Hartleys. So as you point out, they still have a few bob. They did that second placement after the Goongarrie discovery.


----------



## greggles (31 May 2022)

finicky said:


> Yes, you're right @greggles - I should have done more refreshment of my reading before posting that. I forgot the subsequent placement 14/10/21 where they raised another $4m before costs through Peloton and Euroz Hartleys. So as you point out, they still have a few bob. They did that second placement after the Goongarrie discovery.




My guess is that they will delay the capital raise until August or September and hope that they get some good drilling results in before then. Better to dilute at a higher share price if they can. Assay results announced in the next couple of months will be critical to getting that share price higher.


----------



## finicky (31 May 2022)

greggles said:


> Better to dilute at a higher share price if they can



This is what I no longer trust this board for - even less after Jon Price's exit (he's M.D of HRZ - KWR's biggest shareholder). I suspect the board leans towards giving Peloton a good deal in cap raising. Maybe getting cynical.


----------



## Sean K (5 June 2022)

Just in case you missed this @finicky


----------



## finicky (5 June 2022)

Thanks @Sean K, as you correctly surmise, I sniff out anything on the forums/twitter regarding this, my vehicle to untold riches (that I'll never spend anyway, just reinvest). Mr Turner, or 'Ed' as presumptious posters call him, continues to sound as if they are onto a Kanowna Belle style deposit, although I guess that could just be his job, they're all half salesmen. He's better than most imo. He even mentions rattling the tin again but comments that it won't happen till after July. That'll be after they've got some diamond drill results from this campaign on Lake Goongarrie I assume. I have stopped anticipating that they might get some money flowing in from a sale or joint venture of current resources at the Menzies Gold Project, although I must admit he makes negotiations for this sound a more drawn out and nuanced process than I had thought. He hasn't mentioned the interest FMR ltd once expressed in a mining/toll milling deal for one of the u/g deposits (Yunndaga) for ages. FMR ltd being the owner of the Greenfield mill at Coolgardie.


----------



## finicky (14 June 2022)

Sitting order that I forgot about hit @ 0.105
That was a stink bid once.
Price has dropped as low as 0.10 intraday. I was staring at that, unaware I had a bid in @ 0.105. 
At 0.10 it was a 23% drop in a few hours.
With a cap raising not far on the horizon I would not have been game to add to my burgeoning collection of KWR shares today. M.D alluded in an interview to rattling the tin again after July (when hopefully we'll have some DD results in from Lake Goongarrie). I am suspicious that large holders who would expect to be included in a placement (namely Peloton clients and maybe Hartleys) could be selling the stock down - not just today, but that's just the way I'm thinking, could be nothing in it.


----------



## greggles (14 June 2022)

finicky said:


> With a cap raising not far on the horizon I would not have been game to add to my burgeoning collection of KWR shares today. M.D alluded in an interview to rattling the tin again after July (when hopefully we'll have some DD results in from Lake Goongarrie). I am suspicious that large holders who would expect to be included in a placement (namely Peloton clients and maybe Hartleys) could be selling the stock down - not just today, but that's just the way I'm thinking, could be nothing in it.




Bad timing on that tin rattling exercise given what has happened to the market this month. They need some spectacular drilling results and they need them soon otherwise they will be raising capital at current prices and that would be a shame given where the share price was back in April.


----------



## finicky (14 June 2022)

@greggles  Agree, something dramatic from the lake it crucial now to avoid a big dilution. With tax loss selling still a possibility, buying now is an unacceptable gamble.


----------



## finicky (17 June 2022)

A heavy blow - price down 30%, bargain, lol - fill your trolley.


----------



## finicky (17 June 2022)

Nothing stands between us holders and a heavily dilutive capital raise now except the feeble chance of a jv or sale of some of the Menzies Gold Project assets


----------



## Sean K (17 June 2022)

finicky said:


> A heavy blow - price down 30%, bargain, lol - fill your trolley.
> 
> View attachment 142963




I read through this ann a couple of times this morning trying to work out how Ed was upbeat about the holes. I'm no geo and am sure the lithology _may_ point towards _something_, but these were pretty much dirt within dirt.


----------



## finicky (17 June 2022)

I've got a bid in for more @ 0.065
I 'have' to be consistent and since I am a firm believer in an impending gold bull market resumption, then what is the Menzies Gold Project (MGP) alone worth?
MGP 500kozs Gold MRE mostly modelled in pits and all pits < 200m deep
KWR at 0.065 per share (slightly higher last I looked) with 250m shares issued = $17m market cap
That's valuing Menzies gold @ $34/oz
Water and power supplied to tenement, adjacent to sealed hwy, close to second party plants, all resources on mining leases.

Plus Goongarrie Gold Project (GGP) is far from dead, they've got results with no gold from two diamond holes poked into bedrock below a surface gold mineralized alluvial area 2kms x 1km.

Still worth the punt to me, although the biggest cloud is the soon to come capital raise. Say 100m new shares placed @ 0.05 to raise $5m giving a new tally of 350m shares issued?


----------



## finicky (9 July 2022)

Just checked and I'm down 58% on my KWR holding. That's after being well in profit for a while. Not posting a chart, lol. Desperate for a win in at least one of my specs. Hope the *news on Monday* will be tangible data that they are closing in on bedrock primary gold mineralisation at Lake Goongarrie. Very disappointing if it is just a pump announcement before the looming capital raise.


----------



## Sean K (9 July 2022)

finicky said:


> Just checked and I'm down 58% on my KWR holding. That's after being well in profit for a while. Not posting a chart, lol. Desperate for a win in at least one of my specs. Hope the *news on Monday* will be tangible data that they are closing in on bedrock primary gold mineralisation at Lake Goongarrie. Very disappointing if it is just a pump announcement before the looming capital raise.
> 
> View attachment 143895




Maybe Sir Laurence picked up something more than 0.35g/t?


----------



## finicky (9 July 2022)

@Sean K got to be better than that, assuming it is Lake Goongarrie (the Gold prospect, not the Nickel on the west side of the lake). Also that it not at the Menzies field further north. To give him the benefit of the doubt I think Ed Turner was dialling down investor expectations for the first three diamond holes below a 2 sq kms area of secondary alluvial mineralisation.


----------



## Sean K (11 July 2022)

finicky said:


> @Sean K got to be better than that, assuming it is Lake Goongarrie (the Gold prospect, not the Nickel on the west side of the lake). Also that it not at the Menzies field further north. To give him the benefit of the doubt I think Ed Turner was dialling down investor expectations for the first three diamond holes below a 2 sq kms area of secondary alluvial mineralisation.




I'm not sure why you go into a halt for 25 ggm...


----------



## Sean K (11 July 2022)

Sean K said:


> I'm not sure why you go into a halt for 25 ggm...
> 
> View attachment 143955




And, up 57%.


----------



## finicky (11 July 2022)

No, yeah, no, sort of ..
Maybe they can raise now at 6c rather than 5c


----------



## finicky (13 July 2022)

King West has announced a contract mining agreement for the Selkirk open pittable deposit at the Menzies Gold Project - MGP. Not much to it really but its a start and the jv partner sounds good. That's one thing I'm persuaded that KWR does have going for it - a good network of contacts in the Kalgoorlie region.

This is only a small deposit of 11,500 ozs at around 2.2g/t and KWR stands to get 50% of profits but only after BML (the contractor) subtracts its expenses. Might be worth about $2.5m tax free to KWR? But here's the rub, BML has to start mining within 18 months. Obviously this deal is not going to save us from the heavy dilutionary raise coming up.

BML is a privately owned outfit "with a string record of funding, developing and operating mines, with a strong technical focus .. and relationships with local toll treatment operators."

I'm taking a little heart from the CEO's comment that they're negotiating for more deals of this nature over the MGP. It's a start, but which is understandably getting a luke warm reception today.


----------



## finicky (14 July 2022)

Share Purchase Plan (SPP) announced.
Not as bad as I thought although its come hard on the pump of jv of the Selkirk deposit.
I have been braced for a *big* placement @ say 0.05 plus free options to insider privileged parties like Peloton Capital and Hartleys but Kingwest is doing a modest raise for $1.5m @ through a SPP @ *0.065* with a half free option ex 0.10. Stated purpose is to advance Lake Goongarrie exploration so I am guessing that they are hoping for future exciting DD drill intersections to goose the share price before another raise. That or maybe another Menzies jv deal?


----------



## Verc (15 July 2022)

finicky said:


> Share Purchase Plan (SPP) announced.
> Not as bad as I thought although its come hard on the pump of jv of the Selkirk deposit.
> I have been braced for a *big* placement @ say 0.05 plus free options to insider privileged parties like Peloton Capital and Hartleys but Kingwest is doing a modest raise for $1.5m @ through a SPP @ *0.065* with a half free option ex 0.10. Stated purpose is to advance Lake Goongarrie exploration so I am guessing that they are hoping for future exciting DD drill intersections to goose the share price before another raise. That or maybe another Menzies jv deal?



Thanks for your posts Finicky. I too am a hopeful holder. Based on the subsequent share price reaction it seems people sold the news and then realised that with so few shares offered, only near minimum applications will be successful. And anything could happen in the next two weeks to bolster the price.


----------



## finicky (4 August 2022)

Kingwest announced that the SPP was oversubcribed! The company raised $1m over their target for $2.5m funding. Looks like someone(s) maintained the faith better than me - I subscribed for the second lowest parcel on offer. Volume is modest but buyers are willing to pay more today than the SPP price, not counting the SPP attached half free option.

I call that a nice blip on the daily chart.
Held


----------



## finicky (29 August 2022)

Like frugal.rock I am buying the dip, although there's been no dip in KWR.
I just bought 19,231 shares of these @ 0.062 to stop my itchy fingers doing worse like blowing more money on S32 or CDA or buying an entry into SIQ all of which I've almost done today.
Besides, this peculiar number of shares rounds up my holding to 550k shares.
A cheap speculative punt on the recently SPP funded new round of diamond and aircore drilling on Lake Googarrie. The SPP was @ 0.065 per share with an attached half option. The SPP was over-subscribed.
KWR is my comp pick for September (if allowed) although I don't really count on drilling results coming through in Sept.

Daily


----------



## finicky (14 September 2022)

Protecting my September stock picking comp entry. Bid in for 40,000 more @ 0.057, the low of the day so far. Someone put a bid in for 200,000 @ 0.057 ahead of me.


----------



## finicky (15 September 2022)

Lake Goongarrie might be a dud and Ed Turner's not wearing it and falling on his sword (to mix metaphors)
I don't blame him for what might happen, despite being screwed by multiple speccie managements over two decades I think he was playing it straight with shareholders but we never really know. Still holding every share I've bought, I've got to stop doing this, lol. Hope I didn't influence anyone, it looked great to me.

Announcement:
"CORPORATE UPDATE
The Company’s CEO has resigned for personal reasons and this resignation is effective immediately."


----------



## finicky (13 December 2022)

Good blip today.
Pericles and Stirling deposits at Menzies.
High grade sections showing 45,000 oz resource, 85% indicated, depth to less than 100m, grade 5.2g/t, recovery anticipated to >90%
Could be attractive for another jv? Already have Selkirk deposit jv in gestation but that's not certain.
Market cap KWR only about $10m
Might just sit on this one till gold stocks really take off in 2024 if you follow Felix Zulauf - he reckons with gold they'll really rip until 2028 or so, in counterpoint to a crashing S&P at that time. And he's expressly not a goldbug!

Held


----------

