WMN - Western Mining Network - Aussie Stock Forums

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  1. #1

    Post WMN - Western Mining Network

    Western Manganese Limited (WMN) is an Australian based, Indonesian focused exploration company. WMN currently hold the rights to two manganese exploration tenements near Atembua in West Timor, Indonesia.


  2. #2
    Make the drill work for YOU springhill's Avatar
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    Default Re: WMN - Western Manganese

    MC - $6m
    SP - 32c
    Shares - 23m
    Options - 20m
    Cash - $1.7m

    Genesis Manganese Project – included on Clean and Clear List
    WMN holds an option to acquire 51% of the Genesis tenement. The Company has continued its community relations campaign in Toli-Toli, Sulawesi where the Genesis Project is located.
    Subsequent to the June 2012 quarter, the Company announced it had received confirmation of “Clean and Clear” status of its Genesis tenement from the Ministry of Energy and Mineral Resources of the Republic of Indonesia (MEMR).
    The Genesis Project has attracted interest from other parties as it is an IUP production license listed as “Clean and Clear”. There are only a limited number of manganese licenses in Indonesia listed as “Clean and Clear” by the MEMR. WMN is currently evaluating its plans regarding the Genesis Tenement.

    Other Project Acquisition Opportunities – Coal
    One of the objectives of Western Manganese Limited, as outlined in its December 2010 IPO Prospectus, is to also acquire interests or part thereof in nonmanganese projects. During the quarter, the Company has been actively looking at project acquisition opportunities in coal.
    WMN management has identified that Indonesia’s thermal coal industry, the largest sector in the Indonesian Mining Industry has changed significantly. The combination of lower coal prices and less consumption by China and India, and uncertainty regarding newly announced amendments to the Indonesian Mining Laws and regulations as well as proposed taxes has created confusion and eroded confidence amongst some of the tenement holders. WMN’s management team, especially those that have joined the Company since the Board reshuffle, have extensive experience in the Indonesian Coal Industry. Management has concluded that the current market conditions described above have fostered a highly advantageous scenario for acquiring tenements. The current situation has created a “buyer’s market” which the Company feels it is well positioned to take advantage of.
    During the quarter, WMN was offered not less than 28 coal tenements for review. Of these 28 coal tenements, the Company has chosen to further review 11 tenements. These 11 opportunities range from greenfields tenements to currently producing mines with further exploration potential:

    IUP 1 ------ 5,000Ha tenement, High Calorific Value (CV) coal in East Kalimantan
    IUP 2 ------ 5,000Ha tenement, High CV coal in East Kalimantan
    IUP 3 ------ 4,951Ha tenement, High CV coal in East Kalimantan
    IUP 4 ------ 5,000Ha tenement, High CV coal in East Kalimantan
    IUP 5 ------ 5,000Ha tenement, High CV coal in East Kalimantan
    IUP 6 ------ 740Ha tenement, Mid CV coal in East Kalimantan
    IUP 7 ------ 2,329Ha tenement, Mid CV coal in East Kalimantan
    IUP 8 ------ 3,361Ha tenement, Mid CV coal in East Kalimantan
    IUP 9 ------ 750Ha tenement, 80Ha exploitation, High CV coal in Sumatera
    IUP 10 ----- 2,400Ha tenement, 100Ha exploitation, High CV coal in Sumatera
    IUP 11 ----- 5,000Ha tenement, 100Ha exploitation, Mid CV coal in East Kalimantan

    I will certainly be watching WMN for its potential future Indo coal project acquisitions. Coal outside Australia ATM = good.
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  3. #3

    Default Re: WMN - Western Mining Network

    On December 5, 2012, Western Manganese Limited changed its name to Western Mining Network Limited.

  4. #4

    Default Re: WMN - Western Mining Network

    Come on everybody - Anyone in this stock or are you too embarrassed to say anything because of having made a 660% return this past year.

    The company was issued the other day with a speeding ticket - not surprising given the recent rise. Click on the link if you want to read it:- http://www.stocknessmonster.com/news...E=ASX&N=690428

    I was told by a good chart reader, if you use bollinger bands and they (the bands) get very close (tight), then it is very likely that the price will either go up very quickly (or down). On the cadlestick chart hopefully you can see what I mean...

    140910 - WMNs.gif

    140910 - WMN MSs.gif

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