capital raising, page-2

i found it and it was Bruce giving a reply to someone saying a CR was very likely.


Bruce at that time your post made sense. can we have your up dated point of veiw seeing as a CR has indeed been called?


"Therefore, enough cash for 2 or 3 quarters."

points like that i would like to hear your oppinion on.

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"The company has no money though. A CR at 2.3-2.5 cents is highly likely very soon"

If you read the announcement on the 17/02/2011, you will see that WGP have had cash inflows since last quarter:

-$562,000 was raised since 31/12/2010 as part of its raising announced in November at 2 cents per share.
-Cash expenditure was unusually high due to repaying costs (why they didn't mention this in the quarterly, I don't know).
-This quarters costs look to be around $232,000.
-Total cash on hand as at 31/12/2010 was $246,000 + $562,000 = $808,000.

Therefore, enough cash for 2 or 3 quarters.

No worries about cash now for the immediate future. Also, note the discussions with 'several' joint venture partners. This thing could be huge. Even got a few oppies as arrowsmith-2 could really set this thing a-light too.

I bought more after i digested the announcement on 17/02/2011.