WCE signs MOU to look further into nearby processing opportunity
Our silver Investment West Coast Silver (ASX: WCE) just signed an MoU with Artemis Resources looking to utilise its nearby plant for processing.
WCE owns 70% of the Elizabeth Hill mine - which was once the highest grade silver producing mine in Australia.
The mine produced ~1.2M ounces of silver at average grades of ~2,194g/t (over a 12 month period 25 years ago).
WCE signed a Memorandum of Understanding (MOU) with nearby Artemis Resources (ASX: ARV) who own a processing plant nearby.
We covered earlier that Artemis owns the Radio Hill plant which is ~20km away from WCE’s ground and could be a way for WCE to process its ore (if a deal is ever agreed between the two companies.
Artemis owns the Radio Hill plant which is ~20km drive away from WCE’s ground and could be a way for WCE to process its ore (if a deal is ever agreed between the two companies.
The plant has been idle for some years now and was previously being refurbished by Artemis but due primarily to a fall in nickel prices, has not been utilised for several years so there exists a conveniently located opportunity.
For this to occur though, WCE needs to confirm that the plant is (or at least can be) in good working order and that it is possible to process its own ore to process silver.
Should an agreement be reached and WCE is successfully processing ore through the plant, this may present a lucrative opportunity towards early cashflow, at a time silver is at all time highs.
(Source)
While other companies would need to raise cash to keep on exploring and developing, this could be a pathway for WCE to land some early cashflow to keep things ticking along or perhaps even more.
Especially from recent drilling results which have seen near surface mineralisation. With further assays still pending.
WCE included 2 images of the processing plant from today's announcement, so it does appear to be in decent shape:
(Source)
Here is a cross section from a few weeks ago, WCE has high grade results near surface circled in blue, which could be accessed easily:
(Source)
Here are a couple of attempts at how we think repeat discoveries near surface:
(Source)
Could be mined and turned into near term cashflow for minimal cost (note - we are not mining engineers or experts):
What else is WCE up to?
WCE is currently drilling its phase 2 drill program with assays due soon from holes which have intersected visual silver mineralisation (confirmed with a portable XRF unit which we covered here.
It’s worth noting that while pXRF readings offer useful preliminary insights, they are not a replacement for detailed laboratory assay results.
Here are those drilling results from an aerial view:
(Source)
Here is a side on view of where today’s XRF results came from (noting the blue stars are near surface):
(Source)
All of these samples have been sent to the lab for assay with WCE expecting results as early as mid December and continuing into early next year.
What’s next for WCE?
Drilling results from phase two drill program🔄
We are especially looking forward to what comes from the deeper drillholes from the phase two drill program, especially with the visual silver and silver mineralisation being reported.
Results are expected from mid December and to continue into next year.
(Source)
Near-mine and regional exploration 🔄
We want to see the results of the geophysics and air core drilling now underway to further define near-mine and regional targets:
(Source - WCE announcement 22 August 2025)
Update on processing negotiations 🔄
In a prior exploration update, WCE said it was in discussions with Artemis Resources who own the Radio Hill processing plant, ~20km away.
Today WCE confirmed that these negotiations have progressed to a MOU to look further into processing ore at this plant.
The plant has been idle for some years now and was previously being refurbished by Artemis but due primarily to a fall in nickel prices, has not been utilised for several years so there exists a conveniently located opportunity.
