WME - West Australian Metals

[KIWIKARLOS]

i bought this one a couple days ago. Im glad i didn't get many, i already feel like im flogging a dead horse.
I did some more indepth research to find that the concentrations they are talking about are barely enough to even mine the area. Lets hope they stumble across a big concentration by chance and we all become rich

 

[mmmmining]

i bought this one a couple days ago. Im glad i didn't get many, i already feel like im flogging a dead horse.
I did some more indepth research to find that the concentrations they are talking about are barely enough to even mine the area. Lets hope they stumble across a big concentration by chance and we all become rich

I did a bit of research. I feel good about the prospective. Namibia is the place hunting calcrete uranium deposits and Intrusive deposits (Rossing). The grade is low, but the recover method is conventional and recovery rate is good.

Nearby DYL (recently accquisation) grade is about 0.0263%, and Rossing's stockpile is about 0.018%.

Compare DYL, WME is cheap. I can wait for its day to come. But not for short term trading.

 

[mmmmining]

I did a bit of research. I feel good about the prospective. Namibia is the place hunting calcrete uranium deposits and Intrusive deposits (Rossing). The grade is low, but the recover method is conventional and recovery rate is good.

Nearby DYL (recently accquisation) grade is about 0.0263%, and Rossing's stockpile is about 0.018%.

Compare DYL, WME is cheap. I can wait for its day to come. But not for short term trading.

Extra info regarding a nearby project, Forsys Metals (TSX)'s Valencia Uranium Project is in the same area. It has about 6500t of U3O8 at 0.022%. They are doing a pre-feasibility study now.

http://www.stockinterview.com/News/11202006/Namibia-Bonner.html

 

[mmmmining]

Extra info regarding a nearby project, Forsys Metals (TSX)'s Valencia Uranium Project is in the same area. It has about 6500t of U3O8 at 0.022%. They are doing a pre-feasibility study now.

http://www.stockinterview.com/News/11202006/Namibia-Bonner.html

One more piece of info

UraMin Inc listed on AIM, has a Trekkopje project near WME, the U3O8 grade is even lower, average at: 0.0127%

http://ww7.investorrelations.co.uk/uramin/regulatorynews_item.jsp?ric=UMN.L&ref=10771

The raise some serious money to advance trial mining at the its Trekkopje uranium project in Namibia

http://ww7.investorrelations.co.uk/uramin/regulatorynews_item.jsp?ric=UMN.L&ref=12083

 

[Sean K]

I've been revisiting this and it seems there might be more upside in at than the market is factoring in to the sp.

Gold Fields has already done a non JORC estimate on Marenica which has 18m lbs U3O8. The overall resource is pretty low grade (ave 200ppm I think), but at current prices this seems economic. It's at much lower grades to LH nearby, but this was just an initial resource on just a small part of the tennament. It seems downstream there could be an extension of the resource and that is what they are aiming for with the recent surveying.

An Airbourne Radiometric Survey was undertaken from 21 Nov and results from this should be out soonish I think. This could id further potential U occurrences within the boundaries for further driling.

They have just recently ann another uranium project, the Scaddan Project, in WA, which has potential for more upside, although this is very early stages and if you don't believe Labor will change their policy and WA will not follow suite, then ignore this.

Due to the namibia project being relatively close to Rossing and LH, then you couldn't discount some corporate action by Rio or PDN in the future either.

It's been trending generally up for a little while and this recent pullback and consolidation might be a chance to get in before the next results are out. Breaking though $0.165 will be important and in this uptrend, will be a good sign. Vol still average.

This has been overlooked in the U world really. Market cap about $45m I think.

Any other new thoughts out there?

 

[Sean K]

Closer look of the past 3 months.

Lots of resistance at $0.165. If it breaks through this then it would be very positive. Might just buy it up to $0.17 to get it going...

 

[vert]

please do, bought in last rally on the wrong side of it. waiting now for next move...... patience.....

 

[Sean K]

Little bit of buying this moring at $0.17 resistance line. Just one small buy above this, but more positive looking. Would love to see it finish above $0.17!

 

[Sean K]

I picked up a few at $0.165 (30K) and it seems to be going ok, holding above previous resistance which hopefully now provides support.

Trading on really low volumes though.

This is one to watch I reckon. Any good uranium noises coming off it's tennament should provide some impetus, depending on market sentiment at the time.

I'll be topping up as I see any positive action, including $0.165 confirmed as support.

Anyone else holding? YT, you were looking at this weren't you..

 

[mmmmining]

I picked up a few at $0.165 (30K) and it seems to be going ok, holding above previous resistance which hopefully now provides support.

Trading on really low volumes though.

This is one to watch I reckon. Any good uranium noises coming off it's tennament should provide some impetus, depending on market sentiment at the time.

I'll be topping up as I see any positive action, including $0.165 confirmed as support.

Anyone else holding? YT, you were looking at this weren't you..

I am out of it just for now for two reasons:

1. They need money. It is likely that there is a SP rally before the raise. I cannot bet on when.

2. The airborne radiometric map is not as hot as its surrounding area. But the palaeochannnel concept may change the balance.

I might jump in after the raise. For now, I am happy with BMN, or EXT to have Namibia covered.

 

[Sean K]

I am out of it just for now for two reasons:

1. They need money. It is likely that there is a SP rally before the raise. I cannot bet on when.

2. The airborne radiometric map is not as hot as its surrounding area. But the palaeochannnel concept may change the balance.

I might jump in after the raise. For now, I am happy with BMN, or EXT to have Namibia covered.

1. Yes, they will need money soon. Burning 2-300k a quarter, have 700k at end of Oct, so will need to do something early in the new year probably.

2. No idea what you are talking about in regard to the map. It's sitting in the same geology as Rossing and LH. Palaeochannel just refers to the type of deposit doesn't it? Secondary uranium. Still, have to admit that the historic sampling from the 4 anaomolies are pretty crappy. All under 300ppm. But their last results were encouraging.

Don't get me wrong. I am not saying that this is the next LH. Far far from it. Could be undervalued though and worth a few % quick gain. And unlike all other things U hasn't had a run recently. Just going to $0.25 will probably do me, if I pick up the next move early.

On the other hand, it falls over, and I lose my house.

Couple of decent trades at $0.18 this arvo, touching $0.185. Still going sideways and up for the minute.

 

[mmmmining]

1. Yes, they will need money soon. Burning 2-300k a quarter, have 700k at end of Oct, so will need to do something early in the new year probably.

2. No idea what you are talking about in regard to the map. It's sitting in the same geology as Rossing and LH. Palaeochannel just refers to the type of deposit doesn't it? Secondary uranium. Still, have to admit that the historic sampling from the 4 anaomolies are pretty crappy. All under 300ppm. But their last results were encouraging.

Don't get me wrong. I am not saying that this is the next LH. Far far from it. Could be undervalued though and worth a few % quick gain. And unlike all other things U hasn't had a run recently. Just going to $0.25 will probably do me, if I pick up the next move early.

On the other hand, it falls over, and I lose my house.

Couple of decent trades at $0.18 this arvo, touching $0.185. Still going sideways and up for the minute.

Actually, I like WME. Maybe you are right, the chart have told you to buy now. But I don't use much charting, and just like to wait until the complete the money raise.

As I said before, the SP usually goes up before the money raise. You have a good chance to make some good money. But I don't like to take this short term risk.

About the map, please find the page 25 of Nov presentation. Just have a look at the map, which part is red-hot? Then have a look at page 24, the interpreted palaeochannel shxx. Without the palaeochannel story, I may not even touch this stock.

 

[greggy]

1. Yes, they will need money soon. Burning 2-300k a quarter, have 700k at end of Oct, so will need to do something early in the new year probably.

2. No idea what you are talking about in regard to the map. It's sitting in the same geology as Rossing and LH. Palaeochannel just refers to the type of deposit doesn't it? Secondary uranium. Still, have to admit that the historic sampling from the 4 anaomolies are pretty crappy. All under 300ppm. But their last results were encouraging.

Don't get me wrong. I am not saying that this is the next LH. Far far from it. Could be undervalued though and worth a few % quick gain. And unlike all other things U hasn't had a run recently. Just going to $0.25 will probably do me, if I pick up the next move early.

On the other hand, it falls over, and I lose my house.

Couple of decent trades at $0.18 this arvo, touching $0.185. Still going sideways and up for the minute.

Hi Kennas,
I'm with you on this one. WME looks very interesting and I'll be keeping this one on my watch list. Thanks for the info.
DYOR

 

[Sean K]

Slowly creeping up, under the radar. Few trades at $0.185 the past 2 trading days. Some short term support developing around $0.18. A good ann would be nice for Christmas, WME please.

And is that a rounded bottom I see? Noice.

 

[vert]

ann. 1.9 mil placement finalised @ $0.20 to brokers, jorc soon. this should help the sp along hey kennas.

 

[Sean K]

ann. 1.9 mil placement finalised @ $0.20 to brokers, jorc soon. this should help the sp along hey kennas.

Placement above sp. Unusual. I hope it is good for it, you'd imaging so.

 

[mmmmining]

Placement above sp. Unusual. I hope it is good for it, you'd imaging so.

A free option is attached. That is the trick part of it.

 

[greggy]

Placement above sp. Unusual. I hope it is good for it, you'd imaging so.

Hi Kennas,

WME is a very interesting stock. Still watching with interest.
DYOR

 

[Sean K]

Hi Kennas,

WME is a very interesting stock. Still watching with interest.
DYOR

I'm not sure if there's as much potential here as with BMN or EXT but I'm holding just in case.

WME's last results had a couple of good graded holes, but most are pretty average. Around 200ppm. Really want to be up over 300ppm, or have a **** load of ore. This is what I think the case is for WME. They're targeting 18m lbs, which isn't really that much by world scale (SMM already have 75m), but would be a good start.

They completed Phase 2 of their drilling program in Nov and should be close to releasing the results. I hope they're better than the first.

Off just a little today, would like to see it well clear of $0.17..... It hit $0.165 briefly today and bounced, proving support has been established there - for the minute. This is good for a few % I reckon.

 

[mmmmining]

I'm not sure if there's as much potential here as with BMN or EXT but I'm holding just in case.

Off just a little today, would like to see it well clear of $0.17..... It hit $0.165 briefly today and bounced, proving support has been established there - for the minute. This is good for a few % I reckon.

I consider it as wild card. Since it has done the raise, I am back in with a few. There are so many juniors around there, soon some marriages could be arranged.