Australian (ASX) Stock Market Forum

WMC - Wiluna Mining Corporation

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barney said:
My pick in this months Comp …… While ever it stays above $0.010 it is a chance of doubling in a month:) Under that level not so good!

Resource is huge but only low gold grade …. If they can improve the AISC it could re-rate … Punt:)
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Carbon copy and ditto to last months suggestion ….. Fundamentals are starting to improve for BLK and that is being reflected in the Chart.

BLK1nov2019.jpg
 
Cam019 said:
@Trav. @barney - either of you two still following or holding positions?
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Nah … Still have it on an old watchlist though.

The Volume around the recent .008 - .009 level showed a little promise, and a couple of big Honchos have also recently taken +5% stakes as well (Franklin Resources and USB)

Not sure if that will result in any substantial price movement in the short term …. probably a low risk longer term punt at the current levels for those with time on their side. Cheers.
 
On June 18th, 2020, Blackham Resources Limited (BLK) changed its name and ASX code to Wiluna Mining Corporation Limited (WMX).
 
Not much love for this thing. Just drilling out an old mine but they've hit some good grades that should increase the resource considerably. Claiming they're going to ramp up to 250k ozpa... Are they dreamin?
Screen Shot 2021-03-10 at 10.50.51 am.png
 
Grades look very good and with seven drill rigs in operation they are clearly going hard. I just took a look at the last HY results and they appear to be doing OK. $63.6 million in revenue and $9,167,000 gross profit from operations.

I'm not familiar with WMX, do you know why the share price has fallen from $2.20ish to just over $1 in the last 5-6 months?
 
greggles said:
Grades look very good and with seven drill rigs in operation they are clearly going hard. I just took a look at the last HY results and they appear to be doing OK. $63.6 million in revenue and $9,167,000 gross profit from operations.

I'm not familiar with WMX, do you know why the share price has fallen from $2.20ish to just over $1 in the last 5-6 months?
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I can't see any reason why. The day it started going down hill it made a positive announcement and has kept providing pretty positive anns since. Weird. Maybe it's a turkey.

Screen Shot 2021-03-10 at 11.55.42 am.png
 
On July 19th, 2021, Wiluna Mining Corporation Limited changed its ASX code from WMX to WMC.
 
kennas said:
Can someone explain this 10 year chart? eeeeek
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slow death. The old Blackham Resources (BLK) consolidated its shares 1 for 100 ..... on or about 16/06/2020

So that wipes out the previous bunnies.

Now there is a US$42 million loan with some crowd called Mercuria.

Wiluna Mining Corporation Ltd (WMC; was WMX for a while) is an ASX Listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Region in the Northern Goldfields of Western Australia.

The Yilgarn Region has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which is the 7th largest gold district in Australia under single ownership based on overall JORC Mineral Resource......

Background

Since gold was first discovered at Wiluna in 1896 a rich and diverse history has evolved with the initial surface workings moving underground and expanding over time to include over 100km of underground development over 3.5km in strike length on three main parallel structures and extending to 1km in depth. Over the years gold production has cycled between oxide and sulphide ore, from open pit and underground mining, with each change benefitting from improvements in technology and equipment available at the time.

Key to extracting the value embedded deep in the Wiluna operation is the transition to underground mining and processing of sulphide ore. We will introduce this approach by producing a concentrate to be sold to Trafigura and Polymetal with the Polymetal concentrate to be eventually processed at their POX (Pressure Oxidation) facility in Eastern Russia.

As Figure 9 (see ASX Ann of 23/06/2021) illustrates, when the Wiluna Mine was using flotation to treat predominately sulphide ore, the mine was very successful and in fact in the 1930s the Wiluna Mine was the largest gold mine in the British Empire. Wiluna has commenced a Staged Development, which centres around the mining of predominately sulphide ores and floating it through a concentrator. We are simply re doing what has been done successfully in the past.
 
Changes to its Board of Directors: These changes have been bought about by, and are designed to manage:
• The retirement of long-standing Director Tony James who has taken on a full time Executive role as Managing Director of Galena Resources Ltd (see ASX: G1A announcement 15 June 2021);
• Replacing Mr James technical skill set;
• Strengthening and broadening the Boards skills base; and
• Positioning the Board to be more aligned with the European and North American Capital and Investment markets ahead of the proposed LSE listing in the UK, which is proposed for, and on target to, take place in the fourth quarter of 2021.
 
Wiluna WMC Q3 results

HIGHLIGHTS GROWTH
• $41.9M net investment during the quarter
• Stage 1 on track to be commissioned in December 2021; targeting full production run rate of 120kozpa by end of FY2022
• Construction of concentrator continues; work is 90% complete and on budget. A further $4.1M in capital to beincurred from 1 October to completion
• Underground sulphide development ahead of schedule; +95,000 tonnes stockpiled and ready to process
• Stage 2 Feasibility Study continues; completion expected Q3 FY 2022

DISCOVERY
• Drilling returned multiple high-grade intercepts supporting the potential for higher grades in Stage 1

FINANCIAL, CORPORATE & ESG
• Mercuria Tranche 1 debt paid off in full on 29 July 2021
• Gold hedging contracts at 30 September 2021 were for 159,000oz @ US$1,820/oz (or ~A$2,526/oz), with a positivemark-to-market position of A$10.5M
• London Stock Exchange main board listing targeted for FY 2022
• Continued development and implementation of ESG platform

TRANSITIONAL OPERATIONS
• Net cash inflow from operations (before corporate and treasury) for the September quarter was $11.0M, exceeding expectations
• Operations cash flow for the quarter derived from WMC gold production of 8,332oz (with 9,435oz of gold sold at an average price of A$2,514/oz) & additional toll treating of 38,106 tonnes third party ore
• The current free milling stockpiles are approx. 400k tonnes
 
WMC (WA Gold producer) are cash flow positive per recent Q3 '21 results :)

Triple bounce off $1 strong support levels this past week :)

Plenty of anticipated "positive news flow catalysts" in the pipeline over the coming months leading into early 2022 as they ramp up doubling of their Gold production output to 120,000oz+

https://www.marketindex.com.au/asx/wmc



Please DYOR as always..
 
Wiluna Mining WMC

*HIGH-GRADE DRILL RESULTS SUPPORT WILUNA SULPHIDE DEVELOPMENT

• More high grades from Happy Jack & East Lode confirm Wiluna as a high-grade gold mine:

HJRD00067: 3.72m @ 5.31g/t HJRD00075: 3.60m @ 7.22g/t HJRD00078: 3.53m @ 13.37g/t HJRD00080: 2.56m @ 5.56g/t incl. 0.30m @ 35.50g/t WUDD0074: 3.34m @ 10.16g/t WUDD0075: 5.70m @ 5.98g/t & 3.00m @ 5.12g/t & 13.20m @ 7.41g/t
WURD0169: 8.20m @ 6.28g/t & 23.16m @ 5.55g/t
WURD0172: 3.48m @ 7.36g/t WURD0177: 4.47m @ 9.99g/t WURD0179: 11.60m @ 5.90g/t WURD0207: 7.75m @ 13.27g/t

• Results from ongoing drilling received after the cut-off date for the in-progress Mineral Resource update; demonstrate potential to upgrade the Resource on an ongoing basis.

• Mineral Resource update on track for release in November, Feasibility Study and Ore Reserves anticipated March quarter 2022.

https://www.marketindex.com.au/asx/wmc
 
Finally an 80K+ bid @ $1.05 this morning :) as WMC has some catching up to do with respect to other Goldie's.

Overnight Gold rose again to sit at US$1,827 that equates to AUD$2,460 :)
 

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