10-20x upside -limited downside IMHO
Gold Breaking record highs in ZAR and AUD and we have little old WWI with a EV resource oz of less than $2 .... NST purchased the alaskan POGO project @ $85oz
All is on track for WWI to recieve Mining License and Mining Right over the whole 3g/t -2012 JORC 3.6moz+ (10moz+ 03 JORC) within the next 3-4 months
Historically WWI area has produced 41moz gold @ 5g/t (here in NZ we see OGC produce @ 1.3g/t in otago)
we have tax loss selling keeping the lid on the SP and the ongoing FEAR of South African politics keeping market interest next to nil
Now @ 5.5mill market value I see limited downside as even shell ASX companies can command 3mill marketcap .. WWI do have some promising Pilbara projects one close to new RIO operations
I wouldn't recommend going large into WWI as SA risks are always high ,,, but when you compare to peers and look through the finer details of ownership you have the biggest Gold producer Sibanye-Stillwater(Up 54% YOY) in SA has connections to WWI through DRD Gold (WWI largest holder)
you have WWI doing the work to keep the DMR on side to reward the company with ML/MR the legal rep WWI have employed has a very good record at getting ML/MR (its 100% last few years)
Many issues in SA is around black ownership (BEE) ... 26% was the rule but talk of a rise to 30% hurt the sector WWI already has a supportive BEE with 33.4% holding in the Project (so a great project for the SA DMR to promote to successive operations)
For sure WWI will have to raise more capital and I see this being yet another pressure on the price as a cash holding of est $400k must be mostly going to be used up pre ML/MR ... so I don't see much work on expanding the 03 JORC resources to 12 JORC or Pilbara work till WWI has MR/ML and can secure capital at much better rates
recent presentation .... more info here
https://westwitsmining.com/wp-conten...June-2019_.pdf
Disc JBMurc holding WWI av. 1.8c (planning to buy more before the months out)