Reply to thread

Was in public transport and could not read the announcements in detail.

Some additional minor points to my earlier thread. Surely there will be significant discussions on this thread as WAF has rewarded many of the current holders I believe.

1. Reiterating the grade of gold in African region is deemed low.
2. About $50 M equity dilution as the payment will be made 50:50 equity and cash. It could be argued, cash is king but paying through equity is also cause disadvantage to the current share holders unless the project is really successful by the end of 2024.
3. Low geological confidence could go both ways. The grades could turn out to be better (hope so for the existing shareholders) .
4. Good to apply lessons learnt and using same contractors /consultants who delivered earlier project less than $20 M.
5. cash flow calculation is gold price at US $1700/oz. I would be conservative and as gold price goes lower than $1700/oz, the economics of the project will be reducing .
6. I am not negative on the acquisition. Gut feeling says with massive investment from most of the gold miners, by 2024, unless gold commands a reasonable price or at least maintain the current price, there could potentially  be more gold in the market than demand .
7. On a personal level, I do  intend to step into SPP but will also see market direction before putting my money into SPP. Historically my purchase price on WAF was almost 30 percent of current market price. So have confidence on WAF team.

[ATTACH=full]131915[/ATTACH]