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Wishbone Gold – steps to drilling at Red Setter and Cottesloe projects, Buy

By HotStockRockets | Friday 11 March 2022

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Wishbone Gold (WSBN) has announced proposed steps to drilling at its Red Setter project and then at its Cottesloe project, whilst the shares are currently 6.6p to buy.

The steps include Heritage Clearance Survey scheduled for 28th March-2nd April and that it has appointed a drilling contractor, Top Drill Limited, which it is stated “with Western Australian borders having opened on 3 March, and the wet season coming to an end, will be in a position to confirm the start of drilling shortly… with an extensive drilling program at Cottesloe planned for later in the year”.

With the locations in the prospective Patersons Range of Western Australia, we’ve previously noted potential for these shares to rocket on drilling with the locations not far from the renowned Telfer gold mine and Havieron project of fellow AIM-listed, £585 million capitalised Greatland Gold (GGP) and ramping of promoters such as David Lenigas.

That potential now looks particularly so with Wishbone currently capitalised at £11.5 million and the sentiment for gold with the uncertainty from Russia’s invasion of Ukraine and, even before, the macroeconomic outlook for inflation. Therefore, with also prior work giving some geophysical confidence, Buy.

This article first appeared on HotStockRockets – for a new hot share tip from the HotStockRockets team OUT THIS AFTERNOON for just £5.50 click HERE

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