W.M.C.’s Best News At Annual Meeting?

Press, Volume CVIII, Issue 31753, 9 August 1968, Page 14

W.M.C.’s Best News At Annual Meeting?

(N.Z. Press Assn.—Copyright) LONDON, August 7.

It could well be that Western Mining’s “best news” would be given at the company’s forthcoming annual meeting, the London “Sun" said today. The newspaper was commenting in its finance section on Western Mining’s quarterly statement. It said: “As usual, Western Mining's quarterly statement was full of good things. As usual, the shares fell (by 4s 6d on the day) when it was released.”

The report had confirmed copper findings at East Kookynie but while the grade was good, the width of the lode was not.

“This is what upset the shares,” the newspaper said. “But the feeling gained ground later that Western

would not mention copper at all if they felt their find was uncommercial.

“The company has not said at what depth the find (and two lesser ones were made. “Nothing is mentioned about drilling results at Warburton—with the full report and annual meeting looming up, it could well be that the best news will be given then." Western’s nickel drilling programme in the Kambalda area had produced another crop of very good assays, the newspaper said. “Long term, the shares are still very right. “In the short term, it is Great Boulder—with their excellent finds fresh in everyone’s mind and with a market capitalisation about onefifteenth of Western—who are bound to dominate proceedings.”