WCP - WCP Resources - Aussie Stock Forums

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  1. #1
    BUY&SELL's Avatar
    Join Date
    Apr 2007

    Post WCP - WCP Resources

    I've been having a look at WCP Reesources for the last couple of months, and find it a very interesting company. It deals with copper, gold uranium and eneryg exploration. It has no ongoing debt, 52 week high of 0.34c-last price of 14c and a market cap of $34 million.

    WCP hold 30 million shares or 33% of uranoz (a spin off from wcp)

    Projects include:-

    Barrelmaker & Airport central gold project southeast of meekatharra WA.

    Lake Torrens iron-oxide, copper, gold & uranium project adjacent to Olympic Dam mine SA.

    Lilleyvale IOCG project se of mt. Isa QLD.

    Chief Executive - Levi Mochkin

    I feel the fundamentals of this group are very good ie cash flow, some strong names in jv's and has a strong prospectus over the next 12 months. Technically not much to look at. Has been in a down trend since begining of May, but does look to have found some resistance in recent days?

    I'd very much like to hear any details/views on wcp. I've posted now due to the fact IMO it's about (over next 2 months) to have a turn around, but this is all on my own research and would love to hear others op's.

  2. #2

    Default Re: WCP - WCP Resources

    WCP have news out today on boardroom radio from executive director Levi Mochkin.

    "Drilling commences at Titan prospect"

    WCP have IOCGU style mineralised system located 30km north of olympic dam. IMO wcp could go back to it's 34cent high and more, if the market realise the fundamentals of this stock.

  3. #3

    Default Re: WCP - WCP Resources

    ps up 11.11% as at 12.30pm today. Volume also on the rise, if it goes over 2 million it could fly imo. DYOR

  4. #4
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: WCP - WCP Resources

    MC - $18m
    SP - 4.6c
    Shares - 394m
    Options - NQ
    Cash - $8.8m

    Al Hariqah Gold Project:
     The Al Hariqah Gold Project (“Al Hariqah Project”) is a prospective and potentially large scale gold project located in the Republic of Yemen.
     During the quarter three holes for 395m of drilling was completed at the Al Hariqah Project as part of a limited ongoing drilling program. Two of the holes drilled were in the main zone in the north of the project where numerous drill holes have reported significant gold intercepts. The third hole was drilled approximately 250m to the south of the main zone. More drilling is planned in the southern area.
     Limited drilling activities will continue at the Al Hariqah Gold Project with results expected to be released progressively over the coming 12 months. A second local drill rig commenced during the quarter. The drill samples are being collated into batches and will be shipped for assaying progressively over the next 12 months.

    New Yemen mining laws were drafted with assistance from the World Bank so as to encourage new investment. Importantly, the new mining laws have removed the option enabling the government to purchase a 49% interest in the project at market rates.

    Yalgoo Gold Project:
     The Yalgoo Gold Project (“Yalgoo Project”) comprises a prospective tenement located in the Yalgoo Mineral Field in Western Australia where encouraging rock chip assays have returned: 9.36g/t Au, 9.98g/t Au, 25.1g/t Au and 60.4g/t Au.
     The rock chip results were returned from selective sampling of quartz veins hosted in Archean metamorphosed mafic intrusive rocks and from a north-south striking zone approximately 3km in length between the Kings Find and Nyngan historic workings.
     A scout style drilling program has been planned at the Yalgoo Project to investigate the potential for narrow vein high grade gold style mineralisation. The Company is currently negotiating Native Title heritage clearances over the areas of interest for the drilling program, which is now expected to commence by the end of the year, subject to receiving Native Title clearances.
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