I’m with eezi in that I feel something must be brewing in the background. Granted their financial and SP position. We can all see and agree on this. But if it was as dire as you suggest, receivership time etc, wouldn’t the co be pushing ahead with a raise at any price ASAP? I know people are going to throw 0.8c SPP at me but if they were that desperate wouldn’t they just cut that price in half to raise cash immediately? Yes it would dilute us to oblivion and we’d all be pissed knowing that a consolidation is in our future sometime, but wouldn’t that be the immediate move if management thought folding was imminent? And please don’t say no one would go for a CR at say 0.4c or the like, coz I’ve seen plenty of shell co’s raise money on nothing but a good story, a prayer and the faint dream of becoming a 100 bagger. People love to gamble.
Anyway, all that is in the back of my mind (and admittedly not often expressly stated) when I see that they haven’t progressed the SPP, they have a revolutionary product and I wonder what is brewing behind the scenes.
WGL Price at posting:
0.6¢ Sentiment: None Disclosure: Held
