I said some time ago that I expect the next resource estimate to hold over 20M ozs PGMs. Allow me to say how I came to that number. By no means is this going to be an exact number, it’s not meant to be. It is a down and dirty way to estimate how much tonnage the deposit contains that can be done in about 10min so even the average investor can follow along. Go to the below page and count all the blocks depth X width X the Specific Gravity that I will assume is 3.1 then X that by the length until the next cross section (On the last cross section I used 350M that I think is a safe estimate that the qualified person will use). While the deposit should be averaged between two cross sections the deposit generally gets wider the more east you go and I think this is a SWAG that will get us in the ball park +- 20%.

http://www.wellgreenplatinum.com/projects/wellgreen/overview


FAR WEST
576,970
300 X 100 X 3.1 X 400= 37.2M TONNS



WEST
577,370
200 X 250 X 3.1 X 280= 43.4M



CENTRAL
577,650
400 x 500 x 3.1 x 425= 263.5M



EAST
578,075
400 X 450 X 3.1 X 200= 111.6M



FAR EAST
578,275
600 X 600 X 3.1 X 100= 111.6M



FAR EAST
578,375
700 X 500 X 3.1 X 225= 244.125M



FAR EAST
578,600
400 X 500 X 3.1 X 100= 62M



FAR EAST
578, 700
500 X 400 X 3.1 X 350=217M



Add up the totals and you get 1,090,425,000 tons. To stay conservative lets take 20% off the tonnage and call it an even 870 MT

Now take the following grades that were used in the last PEA that used a cut off of .22% NiEq Pt .38, Pd .33, .16 and add them together to get the total PGM content plus gold of .87 g/t. We will ignore the other PGEs at this point even though it will be included in the resource estimate. We get 756,900,000 grams / 31.1 (grams per troy oz) = 24,337,620 OZS PGMs+ Au. Now say we only recover 70% of that and we get over 17 million OZS PGMs+ Au.

The Ni and Cu will pay for all the mining costs so at the end of the mine life the profit should be very significant. Say the average price of the PGMs that are recovered is $800/ PGM oz and you get $13,629,067,524.

Any thoughts on why WG is still so cheap and why the market has not figured this out?