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WME - West Australian Metals

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Hi Kennas,

Weak days are good days for buying opportunities.
DYOR
 
WME update.

Trading at $0.185 again, wanting a positive close for this to get some more momentum.

On the weekly 1 year, interesting to see a clear rounded bottom. Clear resistance, hopefully now support at $0.165. Target would be about $0.24 at this rate. Doesn't seem to be any resistance between here and there.

Fundamentally I still hold this one is down the list compared to the grades of BMN and EXT, but the last 4 months of the chart looks ok. For now.
 

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Resource Captial Research think it should be worth $0.22 for what they have now. Of course, before the placement.
 
Hitting $0.19.

If it can break through this line then not much resistance till $0.24ish.
 

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mmmmining said:
Nice Chart.
Click to expand...
I've seen better but the rounded bottom and the last month or so's steady rise is encouraging. Targeting 18m lb U with some upside potential if it gets some better grades. There's better stocks out there atm, but this has not had a run really. Trying to find something potentially undervalued in the U market which is getting harder and harder. One to watch early in the new year. As always, have parachute handy.
 
Ive got my BMN stocks and just sitting on them for a while cause can see something is going to happen but this one I been watching for quite a while I sometimes wish I got in at the start but hey see room for a bit of potential here just give it a few more days to see how the market swings before I drop my money down. I feel quite good about it but hey just watching the volumes and the price such a big pick up today just see what happens next.
Ready to make a move soon on this one. Just picking the day now pending on results I feel its got a little more room to grow.
Just my opinion
 
Has broken through the $0.18ish resistance I reckon. Traded at $0.195 yesterday and hovering at $0.19. Maybe needs to test $0.18 on the downside again to confirm the break.

Had an ok run since identified break through old resistance at $0.16. Had no attention volume wise. Probably will have it's turn again, just a matter of time. I hope.

Looks like a bit of a cup formed. Noice! Maybe a little consolidation for us to form a handle before the push up?? Hope so..
 

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Hi Kennas,
WME is still an interesting uranium stock. I'm surprised it has not gone for a major run yet in unison with other uranium stocks. Maybe this company needs a better PR machine (and yes, VMS needs it even more). This one is on my watch list. Value is indeed getting harder to find in this sector. The last one I found was GSE at 5c (see my postings at around that price), now even even that one has run. One still can afford to be patient. With so many recent floats, a few of them have been overrlooked. As for WME, I feel that this is one for me to slowly accumulate as I feel that it will be a steady climber.
DYOR
DYOR
 
Yeah Greggy, but I'm not so confident. It actually concerns me that this hasn't had a run and everything else has. I'm probably wrong! It's still generally going up and volume is definately up. Good sign for now.
 
kennas said:
Yeah Greggy, but I'm not so confident. It actually concerns me that this hasn't had a run and everything else has. I'm probably wrong! It's still generally going up and volume is definately up. Good sign for now.
Click to expand...
Hi Kennas,

I've crossed my fingers for you. I put the problem down to the fact that its PR isn't crash hot.
One to watch just the same.
DYOR
 
Some volume building on the ann re commencement of drilling at Marenica in Namibia.

Still a long way to results, JORC, etc.
 
WME is well behind the peers in terms of SP appreciation. It might just play catchup game.

I believe the chance to find economical size uranium deposits is very high.

18mlb U3O8 is a very good size. The grade is low at 200ppm. But as the increasing of uranium price will make it more attractive. 200ppm is about US$38/t ore value, has more value than 0.6% copper ore.
 
Since the beginning of this year, Both BMN and ERN appreciate over 40%, and WME did almost nothing. But it did show sign of life from 16c on March 6 low, to Friday's 18.5c close.

During this period, both BMN and ERN has issued one positive news each regarding exploration. But WME has issued 5 related news. Each news only has 5 min fame, than faded.

Very interesting price action patten too. Shareholders in BMN and ERN seem to anticipate the ann, and expecting. While WME's shareholders are very passive to the ann. The reason could be lack of interests on WME. It could change. We have seen it happened to ERN before.

There are quite a few research reports on WME, and good for DYOR. Just from peer analysis point of view:

1. Resources estimated (not JORC, but accepted by IAEA) at 14.1mlb net (80%)

2. 200ppm uranium is not too bad with upto $96% recovery with conventional alkali leaching; At current price, it is about the same as 2g/t gold with over 2mil.oz gold resources;

(Nearby Klein Trekkopje deposit is due to advance to trial mining in 2007 and to launch commercial production in late 2008. The deposit is about 130ppm, but with about 35,000t)

3. Exec. Dir and CEO Leon Reisgys is a member of the teams made the discovery of Manyingee and Ben Lomond deposits;

4. Share price is significantly lag behind ERN and BMN

5. Low market cap, fully diluted at about $55m

6. JORC reports on 2H, with possible resources upgrade.

Nowadays, chasing blue sky is much easier than facing down to earth reality for momentum traders. Well, if you after some value, WME is surely one of them.

But I don't want you guys out of focus. If you think BMN and ERN have better future (I have the same view), stay with them. But if you have some spare money or so and like cheap staff, spend a few on this one might be very rewarding.
 
Still a $4 EV/lb.

If another Aussie can produce in Namibia, WME should be well ahead of BMN, EXT, DYL, ERN, and WMT. The management team is very active. A lot of progress has been made. JORC this year, and BFS next year, 2009 to 2010 it can produce..

Assume it can produce 500t/yr U with 10-12 years mining life, and $60m capital exp. It should be a very attractive investment at current uranium price and share price.

Don't worry about the low grade, nearby 130ppm has passed the BFS, why not this 200ppm? 200ppm ore has contained value of US$40/t, not too bad.

Don't forget they have high grade ore body. They can mine it first.
 
Cannot believe it, people still have find any value of this extremely undervalued stocks in the back of record $113/lb uranium spot price.

Companies with low grade uranium deposits will benefit most. This one is at less than $4/lb.
 
mmmmining said:
Cannot believe it, people still have find any value of this extremely undervalued stocks in the back of record $113/lb uranium spot price.

Companies with low grade uranium deposits will benefit most. This one is at less than $4/lb.
Click to expand...

Can't understand it either.. Needs some lacking
:1luvu:
Have a look at WMT today. It has 52,258,030 volume currently and up 18% poor WME a more advanced explorer is down . Deserves better.
 
interesting to see that WME has so-far missed out on the uranium boom with their uranium tennements so close to that of Rio Tinto and Paladin in Namabia.
Although it is early in the exploration phase they are talking about proving a JORC resource of 18 million pounds of uranium by years end and that is contained only in a section of the tennement previously explored by Goldfields back in the 70's.

Using modern exploration methods and expanding the search they could well be sitting on a large tonnage of uranium ore although as yet only reasonably low grade, but on the up side the phase to exploration showed some nice grade increases to the west of the explored zone of over 1000ppm.

With drilling only recently restarted on previously explored areas in the tennements which accounts for less than 30% of the tennement and being within such close proximity to Rossing Uranium Mine (Rio), and Langer Heinrich (Paladin) it certainly looks like it could have some upside of the coming year with increased exploration focus looking to shore up a JORC resource before years end.

The August 08 options are trading at 15c and may be worth a punt with plenty of time till expiry.


Anyone else have a view on why it has seemed to fly under the radar and do you think the release of the latest 2500m of drill assays due in the next two weeks could draw attention to the uranium potential of WME?
 
Low grade at 200ppm turns away a lot of people.

Soon or later people will realise that the lower grader will benefit most from rising uranium prices.
 
Punters have a lot of imagination, but a bit shy of reality and value.

When WME produce its JORC and scope study, you might find you have just missed this cheap stock.

When uranium price was at $40sh/lb, WME is a 20c stock, now it's $113/lb, still at the same price. Amazing.

Also there is more positive information released since then.

What a great anomaly? The rest is for you to fancy.
 
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