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WMC - WILUNA MINING CORPORATION LIMITED.


nipper
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Wiluna Mining Corporation Ltd (WMC) is an ASX Listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Region in the Northern Goldfields of Western Australia.

 

The Yilgarn Region has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which is the 7th largest gold district in Australia under single ownership based on overall JORC Mineral Resource.

.....went by another ASX code for a while (WMX), after backing into the defunct Blackham Resources (BLK). There is a certain pretension in taking on WMC for its ticker.

 

 

Background

 

Since gold was first discovered at Wiluna in 1896 a rich and diverse history has evolved with the initial surface workings moving underground and expanding over time to include over 100km of underground development over 3.5km in strike length on three main parallel structures and extending to 1km in depth. Over the years gold production has cycled between oxide and sulphide ore, from open pit and underground mining, with each change benefitting from improvements in technology and equipment available at the time.

 

Key to extracting the value embedded deep in the Wiluna operation is the transition to underground mining and processing of sulphide ore. We will introduce this approach by producing a concentrate to be sold to Trafigura and Polymetal with the Polymetal concentrate to be eventually processed at their POX (Pressure Oxidation) facility in Eastern Russia.

 

As Figure 9 (see ASX Ann of 23/06/2021) illustrates, when the Wiluna Mine was using flotation to treat predominately sulphide ore, the mine was very successful and in fact in the 1930s the Wiluna Mine was the largest gold mine in the British Empire. Wiluna has commenced a Staged Development, which centres around the mining of predominately sulphide ores and floating it through a concentrator. We are simply re doing what has been done successfully in the past.

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plus changes to the board as MD retires

Positioning the Board to be more aligned with the European and North American Capital and Investment markets ahead of the proposed LSE listing in the UK, which is proposed for, and on target to, take place in the fourth quarter of 2021.

 

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