Its really no surprise to see the stock where it is given the general sentiment in the market place for uranium stocks and equities in general - as much as we hate it to be; myself included having accumulated all the way up to 42 ... only to see it be where it is now.
From reading the recent updates, I too believe we have good potential here; just as there was with Paladin when it was at 2 cents. There are of course differences but in my humble opinion, if the general market holds i.e. demand for resources and energy, then in time, WMT will be able to prove its worth in time. There's definately a risk especially since we're talking about exploration in a place where there has been not much done in the past. I guess in hindsight, this will all take time and so much shouldnt have been expected in that timeframe - even if we wanted to believe it - mug punter or otherwise :) It was certainly nice to see the price rocket day after day ... but i guess reality came earlier than we expected.
My general thoughts are that until we can get a sufficient hold on how much uranium is in-ground, we are not going to get significant lift-off. The easy money and SP appreciation made on hype and traders is now almost gone and now comes the waiting game. I would give the company 3-6 months to work through the data they're receving from the drilling and to then offer better guidance to the market on what is to become of the future (for their shareholders!). I do believe that for a company that is reasonably new (with lots of new people) and aiming for something that is probably bigger than they have all worked on will always be a challenge; and no doubt they may stumble and try to work their way through them. This is just the reality of running a project, a business or exploration company in this case.
Good luck to all holders, even more to the ones holding on patiently!
CB
WMT
western metals limited
