Shares out: approximately 27M
Cash on hand: approximately 2.5M $CDN
Website: westerncopper.com
Current share price:$1.09 CND
This Canadian company is well know in the industry mostly due to it’s discovery of the San Nicholas property. San Nicholas is a Mexican property where mining rules are favourable. It is part of a larger Project called El Salvador. El Salvador covers 225 sq. kilometres and infrastructure is in place in the area.
San Nicholas contains 75M tons and grades at 1.4% Copper, 2.1% zinc, 28g/t silver, 0.5 g/t gold. A little bit for everyone! WTC holds 26% of this property with partner Tech Cominco.
However the real speculation for investors in WTC is it’s wholly owned Penasquito property. The company completed a PP in February for 1.8M CDN$ through a combination of shares and warrants. Each share carried ½ warrant to be exercised in two years at a price of .80c and $1.00 ($C). They are in the money now.
The Penasquito property is again a Mexico property. No resource has been defined to date! It is a speculation!
A 18 hole drill program will begin soon on the property. There have been previous drill programs in the area and based on these previous programs it can be estimated that there is a potential for as much as 100 M tons averaging 100g/ton silver, 1% lead, 1.8% zinc and .5g/t gold. Again, something for everyone.
Penasquito has the potential to hold as much as 300M ozs silver, 2M oz gold, and more than 2M tons of zinc. This makes WTC an excellent speculation in the junior resource sector.
All comments are welcome. Please keep it civil. We want to know the pros and cons of this speculation. Your personal agenda’s are not welcome here. Let’s keep to the subject of WTC!
Disclaimer: I own this stock.
This introduction was developed with information and assistance of:
ormetal.com
mininginsights.com
Both newsletters I enjoy and recommend.
Sooo….who is first? |
