The Conversation (0)
Description
According to a report released by the Australian Independent Investment Research (IIR), Warriedar Resources Limited (ASX:WA8) holds investment potential due to the expected newsflow from the company's active exploration underway in Western Australia. "As such we expect positive results and steady newsflow, which should drive value in Warriedar, which is currently trading at a relatively low valuation compared to peers," stated the report.
Warriedar Resources has a strong and stable portfolio of gold assets in both Western Australia and Nevada, currently holding more than 2 million ounces of high-grade gold resources with blue-sky potential for growth.
IIR’s report stated the following key points:
- Brownfields Exploration: Many discoveries are made “in the shadow of the headframe”, and by revisiting areas that were previously mined for different mineralisation types - that is pertinent with the primary mineralisation opportunity in areas that were mined for oxide gold.
- World Class Mining District: Western Australia is one of the world’s global mining powerhouses, including being a major gold producer, with the skills and services that that entails.
- Excellent Infrastructure: The region is served by infrastructure, and is close by largely tarred road to the cities of Geraldton (300 km) and Perth (420 km). The Golden Dragon mine site has a plant, camp and ancillary infrastructure, and can be readily reconnected to the electricity grid.
- Well Defined Resource: The Western Australian projects include a well-defined resource of 19.2 Mt @ 1.5 g/t Au for 945 koz contained gold - this is in addition to the 16 Mt @ 2.0 g/t for 1.03 Moz contained gold at Big Springs.
- Well Understood Mineralisation: All of the Company’s target mineralisation styles are well understood, with these being currently and/or historically mined in the region.
- Resource Upside: There is considerable potential to expand current resources, through extensions to the known mineralisation, and through new discoveries.
- Strong and Committed Board and Management: The Board and Management have the requisite skills, and a history of success. Steady News Flow: Given the comprehensive exploration programme, we would expect steady news flow over coming months
Click here for the full report
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