03:27:47 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Wellgreen Platinum Ltd
Symbol WG
Shares Issued 112,368,061
Close 2015-07-13 C$ 0.32
Market Cap C$ 35,957,780
Recent Sedar Documents

Lundin upgrades Wellgreen Platinum to buy

2015-07-13 21:42 ET - In the News

Brien Lundin, in the July, 2015, edition of the Gold Newsletter, upgrades Wellgreen Platinum Ltd. (recently 34 cents) to a buy from a hold. Mr. Lundin said buy five times between August, 2011, and February, 2015, at prices ranging from 63 cents to $3. Assuming a $1,000 investment for each of the five buys, the $5,000 position is now worth $1,819. Wellgreen has released an updated NI 43-101-compliant PEA for its Wellgreen platinum-palladium project in the Yukon. The PEA pegs Wellgreen's posttax internal rate of return at 25.3 per cent, and its annual production at 200,000 ounces of platinum, palladium and gold, plus 73 million pounds of nickel and 55 million pounds of copper for the first 16 years. The company is about to begin a $4.2-million drill program to upgrade and expand the existing resource. Mr. Lundin notes that a large and well-known Canadian fund group has been selling most of its junior mining shares after a new manager took control. Wellgreen is apparently among those targeted, which explains the continuous drop in its share price. Mr. Lundin reckons the sell-off should run its course very soon. He tells his readers not to wait, and to jump on this opportunity to buy while the stock is on the clearance rack.

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