This company is a paying customer of Resource Talks.
Western Alaska Minerals (TSXV: WAM) is a small exploration company that was put together by very experienced explorers, over the last ten hyears, with incredible attention to detail. Watch my 1.5-hours interview with their technical team here, to learn more about this $50M Alaskan gold explorer.
Today Western Alaska reported that they’ll be raising more money, and that makes me happy.
WAM has +6,000m of drilling planned for their 2022 drill program. I like the fact that there’s a little “+” before the 6K. That’s because, what we’ve seen so far, is that WAM is sitting on some very promising lands. So, the more they drill, the higher the chance for more and quicker success is.
The 6,000 currently-planned meters could result in roughly 20-30 holes, at 200-300m per hole, which is not nothing, but the company today said that “the program is expandable based on success thru mid-October.”
That’s why they’re raising 5M CAD, at $1.20 per share, which is a near 15% discount to their share price from yesterday.
Although this may sting for short-term focused traders, Dr. Quinton Hennigh tells me that their land package, based on the grades we’ve seen so far, is definitely worth the extra dilution that this company will have to go through before it comes closer to its alleged porphyry.
Dr. Quinton Hennigh, out of Crescat Capital, and I will touch upon this news release during the weekly newsletter, that will be published this Sunday.
If you have any questions and/or concerns around this, please post them in the comments below, and Dr. Hennigh will answer/address them.