WA8

1.79%

5.7¢ warriedar resources limited

Ann: Quarterly Cashflow and Activities Report, page-11

First 11 Last

Share
Profile

Follow
LNC-Link

1,166 Posts.

525

03/08/18

09:12

Post #: 34701386
Share

Originally posted by nk ↑

The directors tell us BS is worth between $50 and $70 million according to an expert.

Yet they offered this asset as security for a $3million loan paying 15% interest rate. . Wonder what the default rate is.

That is:

They were willing to put at risk a $50-70 million asset for a $3million loan to develop a risky narrow vein mine. And that loan was repayable within 6 months of drawdown, ie about now.

I think the Bible says something about loans like that!

Why the hell would you do a deal like that versus a placement for $3million?

One of the directors, Cooke , put in $500k to this loan syndicate. His money was safe, on default the syndicate had security over a $50million asset. Plus he got 15% and options.

What if a syndicate member now plays hardball and wants there money back? The loan is repayable within 6 months of drawdown. Guess what, they get BS if the company defaults. It defaults if it does not renegotiate payment terms . Nasty.

These guys made a really big mess of this. Now the company is in distress. We went from a cashed up junior with a great asset to financial distress in 12 months .

Welcome to the world of junior gold mining .

Expand

Hi nk. Looks like you know a fair bit about the gold business. What do you make of them only getting $3.7m for 3250 ounces of gold? Seems a long way from the gold prices of $1700 an ounce through that period.

AWV Price at posting: 2.2¢ Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

OCT

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

RAG

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

IMA

Issues emerging as Australian companies tackle critical minerals challenge

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

SHN

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

ARB

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

ARV

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

NWH

NRW Holdings inks $109M deal with BHP for works at Jimblebar

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Tonight's US CPI data could set the tone for November. What are markets expecting?

There are more pages in this discussion • 9 more messages in this thread...

First 11 Last

Add WA8 (ASX) to my watchlist

(20min delay)
Last 5.7¢		Change 0.001(1.79%)		Mkt cap ! $43.50M

Open	High	Low	Value	Volume
5.6¢	5.8¢	5.6¢	$26.66K	463.6K

Buyers (Bids)

No.	Vol.	Price($)
4	596441	5.6¢

Sellers (Offers)

Price($)	Vol.	No.
5.7¢	34591	1

View Market Depth

No.	Vol.	Price($)
4	596441	0.056
6	784481	0.055
4	421500	0.054
2	210000	0.053
2	105000	0.052

Price($)	Vol.	No.
0.057	34591	1
0.058	174137	1
0.059	307277	2
0.060	370000	4
0.061	50000	1

Last trade - 16.10pm 11/10/2024 (20 minute delay)

WA8 (ASX) Chart

Ann: Quarterly Cashflow and Activities Report, page-11

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

Issues emerging as Australian companies tackle critical minerals challenge

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

NRW Holdings inks $109M deal with BHP for works at Jimblebar

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Tonight's US CPI data could set the tone for November. What are markets expecting?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Quarterly Cashflow and Activities Report, page-11

Top Stories

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

Issues emerging as Australian companies tackle critical minerals challenge

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

NRW Holdings inks $109M deal with BHP for works at Jimblebar

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Tonight's US CPI data could set the tone for November. What are markets expecting?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News