KWR - Kingwest Resources

[System]

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]

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]

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]

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]

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]

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


Held.

 

[frugal.rock]

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]

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]

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

 

[frugal.rock]

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]

and, he looks a bit like me...

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

 

[frugal.rock]

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]

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]

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

Nice entrance,

 

[finicky]

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]

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

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

 

[finicky]

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

Daily

 

[frugal.rock]

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]

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]

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.