Ann: Ore Reserves Update and Feasibility Progress Report, page-32

I have to disagree, if they don't give anything back, they are still loosing cash (note not profit or loss) and funds dry up then the following happens:

No cash - Administration - then finally it's usually either a DOCA, a large refinance or Receivership. With either of these three outcomes the shareholders are the main losers, then the creditors and finally the secured creditors.

A couple of recent(ish) examples to lookup if you so wish are Heron (HRR) with a DOCA and Gascoyne (GCY) also a DOCA.

Now, you would hope that the underperformance stops soon and WMC start creating solid positive (operating and investing) cash flows, but to just assume it will happen without considering other scenarios seems a pretty daring strategy.

Anyway, just my thoughts from a non-holder...

p.s. good luck all, I've been through similar investments before!