Hi Stirer,
You don't have the ability to think outside the box. that is why you are stuck in WKT and have no other investments.
its very simple, If Jinpeng had the confidence in WKT's funding structure which has been announced, they would be shipping all of the items which are in the warehouse now. Not waiting for "something" to occur. How can you not see this is an issue when the last shipment has already taken ~2 months and it is yet to arrive. Why spend extra time waiting on "something to occur" rather than start moving all the items to get the mine completed, You keep telling us the funds to pay Jinpeng and TNR is there with BMCG's funding.
BTW, WKT doesn't need US$2.2mil. if they only needed US$2.2 mil they wouldn't have secured US$10mil from BMCG with their conditional convertible equity. Again you don't seem to understand the back up funding is needed to pay out Jinpeng and TNR along with the other contractors. No one wants to be paid in WKT shares, Take Jinpeng for example, what financial benefit do they have being issued shares at 11c if the SP is 5c? Also why are they being issued $7.5mil in options (30mil @ 25c exercise price)
More alarming WKT hasn't issued its shares to BMCG, which is concerning when they stated they would be issued in days and it has already been 14 days.
Oh, Why is it taking WKT so long to get the notice of General Meeting out to lock in all of these conditional agreements?
I keep saying something smells bad, all of these requirements should have been completed by now.
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