120 dollar sock, page-6

WMT never traded at $120 dollars. At it's peak it got to around $1.35. The misconception comes about due to the 1 for 100 share split that was needed to relist.
The original Western Metals was formed by Rod Webster, (now Paladin in believe), and a few of his mates. They purchased the Lennard Shelf operations from BHP/Utah about ten years ago. They finished mining the Cadjebut orebody, Developed and finished Goongewa, and developed and partially mined the Kapok and Pillara orebodies till spiralling debt from hedging and poor business decisions forced them into receivership about four years ago.
Teck Cominco purchased the complete operations for around $26M and promptly closed the Kapok mine and put Pillara into care and maintenance. Somewhere in the last few years Xtrata got their fingers in there thru the buyout of Falconbridge, who ..............but that's another story.
The Steinepris Brothers weaved their magic once again and reinvented the delisted shell a while back, (further info on www.delisted.com.au), and you all know the rest of the story.