“May I ask Andy if you were paid by WCN in shares for work done or equipment supplied or if you purchased on market?”
Neither me nor the company I once ran (now retired) has done any work for WCN therefore no shares for work at all.
I underwrote a share issue some time back and received a small underwriting fee for doing so. The shares I currently own have been purchased in larger blocks sold to what the people commonly call sophisticated investors on the market in the main and also in the previous CR and the SPP.
One of the main reasons I bought into the company was after my cousin (civil engineer) from South Arica worked in the area for a couple of years. He and several of the geologists working on a mining project remarked how similar the ground looked to the S A Witwatersrand area. Some of the other Gold finds along the Tien Shan Metallogenic Belt lead me to believe this really is elephant country. http://www.mining-technology.com/projects/kumtorgoldminekyrgyz/
Talking about South Africa this news item may have some bearing on the price of Gold in the near future. I recall once being told that some of the larger mines have up to 25% of employees with HIV despite issuing free condoms and education. Of course is doesn’t help when the local witch Doctor tells people the best way to cure aids is to sleep with a virgin.
You are right this is not a game for big ego’s and I was not boasting just stating a fact, also as we all know this is not a game for the faint hearted. One can always play it safe and one way to do that is never invest in small exploration companies; however, I never really made a lot of money playing safe in fact the only real money I ever made required some risk.
I hope I have answered your question seeing as you asked it so politely and I wish you good luck with your investments.
I once asked my stock broker mate for the explanation of the term “sophisticated investor” he told me it was an industry term for an investor that has lost all his money!!!
By the way I think we may be approaching the billion shares on issue or if not very close.
Cheers and very best regards: Andy
WCN Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
(20min delay)