WPG western plains gold

[donnie]

The next drilling these guys do seems pretty good. worth a read

http://www.asx.com.au/asxpdf/2007030...3qr5pcx41j.pdf

[Corporate]

Well I'm bringing this one up from the dead. Name changed to WPG Resources Limited.

Very undervalued in my view.

Fully cashed up (recent raising and $120m facility) to bring their Iron Ore asset into productions during 2011. Net operating cashflow should be approximately $200m PA.

Top 20 owned 60% and Directors 18%

Good post by Aksier on HC...

WPG Resources Limited (WPG): The company has recently finalized the equity portion of funding for their Peculiar Knob direct shipping iron ore operation. The project has a resource which is one of the highest grade and lowest impurity deposits in the country. The NPV for the project is around $1.50 per share based on the projected production rate of 3mtpa commencing in late 2011. Further upside should come from the Hawkes Nest DSO project which adds around $1.00 to my valuation. Blue sky projects include the Penrhyn Coal Project and a large Hematite and Magnetite BIF (Banded Iron Formation)iron ore project which are the subject of a $50m JV funded by Wisco. Provided the company delivers on its timeline for the development of the PK deposit, I expect a substantial re-rating to occur this year.

DYOR - I'm in today

[Huang Chung]

Well I'm bringing this one up from the dead. Name changed to WPG Resources Limited.

Very undervalued in my view.

Fully cashed up (recent raising and $120m facility) to bring their Iron Ore asset into productions during 2011. Net operating cashflow should be approximately $200m PA.

Top 20 owned 60% and Directors 18%

Good post by Aksier on HC...

WPG Resources Limited (WPG): The company has recently finalized the equity portion of funding for their Peculiar Knob direct shipping iron ore operation. The project has a resource which is one of the highest grade and lowest impurity deposits in the country. The NPV for the project is around $1.50 per share based on the projected production rate of 3mtpa commencing in late 2011. Further upside should come from the Hawkes Nest DSO project which adds around $1.00 to my valuation. Blue sky projects include the Penrhyn Coal Project and a large Hematite and Magnetite BIF (Banded Iron Formation)iron ore project which are the subject of a $50m JV funded by Wisco. Provided the company delivers on its timeline for the development of the PK deposit, I expect a substantial re-rating to occur this year.

DYOR - I'm in today

Corporate, I had a quiet chuckle when I read your post at work today. I too was trolling throught the HC 'top 5 picks for 2011' thread, and likewise thought Askier's pick of WPG was a standout. Further research over the weekend confirmed my initial thoughts.

I also bought in this morning, averaging 72.7c.

Lets hope we can put this one into the Great Minds Think Alike catagory.....

[Corporate]

Huang Chung, WPG is just another one of those stocks where you know in your gut, that it is a stand-out buy!

Like you, I did my research over the weekend. But had my eye on a few other stocks and didn't buy early in the morning. Ended up with an average of 73.5c. Not that it really matters.

[Corporate]

Nice to see this one close at 80c after giving it a crack once or twice in the last couple of days.

[Huang Chung]

Yeah Corporate, I'm enjoying the ride.

Plenty more to come me thinks.....

[Corporate]

slow and steady I like it....none of this 50% jump in a day. 4-5% everyday is fine by me :-)

[Corporate]

This had a couple of attempts are breaching 80c and failed. I sold on Friday at 78c, and now looking for a re-entry.

[Corporate]

Back in today :-)

[Corporate]

Attachment 3160

I'm not huge on TA. But there is something familiar about current trading and what happened in June/July 2010. Except the OBV has taken off and the volume is comparatively huge.