Western Pacific Resources Corp. is an exploration company focused on discovering and advancing gold projects in the western United States. With approximately $2M in the bank, management is looking to build its project portfolio by targeting advanced, production-ready gold properties. The company's current flagship project, Mineral Gulch, is a past producer in Idaho; the former operators produced over half a million ounces of gold at an average head grade of 1.5 g/t in the 90s. Western is currently investigating a path to production through reprocessing of the tailings, while reviewing current and historic data on the property.
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
The Gold Report Interview with David Skarica
"Western Pacific Resources Corp. is an exploration company with a mine from Pegasus Gold Inc. in Idaho. The company has solid management. The property has excellent infrastructure and Idaho is a politically safe location. In terms of financing, Western Pacific has $2M in the bank. When it hit its low, $0.10–$0.11/share, it had a $3M market cap with $2M in the bank. You're getting everything else in the company thrown in for free. Even after it rebounded to $0.20/share, the market cap was still only $6M. I would call that stock an exploration company even though its flagship property is a past producer. Like many other stocks I watch, it will rise with the overall market. A typical recent pricing pattern for junior stocks would be to go from $0.80/share to $0.20/share in this weak overall market. But when this market turns around, many of those stocks will rise back into the $0.50–0.60/share range. That would be an example of the Maximum Pessimism Trade."
Lawrence Roulston, Resource Opportunities
"Western Pacific Resources Corp. has initiated an economic evaluation of the historic gold heap-leach pad at its Mineral Gulch project, in southern Idaho. . .historic data from the previous operator, together with recent work by Western Pacific, has outlined several hundred thousand ounces of gold in near-surface occurrences. The proposed operation to reprocess the ore on the leach pads is seen as the first step in reactivating the Black Pine district."
Greg McCoach, Insider Alert
"In my opinion, further exploration drilling at Mineral Gulch will greatly increase Western Pacific Resource Corp.'s resource and higher gold prices will makes things economic enough to recommence operations at some point. . .hang in there with this one, as I believe plenty more ounces will be discovered at Mineral Gulch once things can really get underway."
Western Pacific Resources Corp. Content
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