You sound like you thought this company could operate without money Meso..capital raising does stink but thats life at this end of the market, dilution does nobody any favours and many so called SI's and institutions have been burnt in recent years buying into raises at what they thought were bargain prices only to see things go further south....
Can I respectfully suggest you have a look at what they are trying to achieve and have a long hard think about what that involves in respect to time, partner commitments,drilling risks, capital requirements and if you have the patience to stick it out.
Management by their very nature are optimistic they couldn't raise any money if they had any other approach but these guys have pulled off some pretty impressive feats recently. If you don't like their salaries try doing what they have done yourself and if you could would you do it for less if you could likely get as much or more elsewhere. I'm not saying salaries for many Managers are deserved its more thats the way it is untill the system changes.
Its been brutal for a lot of resource stocks in the last couple of years, expectations have changed and risk aversion has increased.
I'm sorry if your a long time holder and have seen the shareprice erode but anyone who has been in this sector for any length of time has been there including myself, often more than once.
WHL is not only high risk it is very high risk and may, just may, come with a very high reward...that is after all what these stocks are about unless you are just trying to trade a pip here and there..
Anyway I'm not interested in getting into an argument over it and will leave it at that..best of luck going forward.
Cheers Whisky
QFY Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
