It is fairly clear that our esteemed directors and management team have failed to find another buyer in over twelve months, if it has been their plan to sell. They missed the hot money period of a few years back. It is a measure of how keen they are to quit WCL that they have been prepared to put up with the degree of mucking around they have received at the hands of the Chinks and I doubt that it will come to a close any time soon. The middle kingdomites strung MPO on for more than a year and finally got a discount of about 60%. They aren't known for paying top dollar for second hand goods either.
Unfortunatetly the directors appear to know, but haven't let on to the market, just how expensive it would be to develop sustainable production up to 65 tj/day. According to earlier plans we were going to be producing around 25tj/day around now but instead are struggling to maintain around 11tj/day - almost no progress in three years and about $100 million later.
I wonder if our very savvy board have a Plan C?
WCL Price at posting:
38.0¢ Sentiment: None Disclosure: Held
