Originally posted by sirrobbo
Hi 42trader, thanks for the reply, I was interested in your thoughts. In my initial post you responded to I did not mention funding. I was more referring to Lindi is a fantastic story and we are only seemingly getting doom and gloom stories from the top down.
Surely there must be announcements of some progress that can be made before full funding. We are so close, why are no binding offtake announcements being made? If you found the right buyer some funding could come with it. It seems Trevor only has one gear to raise money, drain the shareholders, dilute the company and grant himself and the rest of management copious amounts of free shares and options and never buy on market.
If you want some examples of management that put thier own hard earned money and back their company just have a look at BKT and MNS, its quite an eye opener.
Who is in charge of marketing with WKT because it is non existant and I find this very odd. The negativity played out here starts at the very top and trickles down so if they want more positive social media coverage then they better get to it and start communucating with a better story.
Lindi is certainly a potentially fantastic story. Most negativity imo starts as people’s expectations are not met and they voice them on HC and the like.
Much of what is left to announce is funding related as most of the work required for construction is already done. No Ann re offtake so far is possibly and I think likely ties in with funding. It’s probable in my mind that at least one or maybe more offtake groups are willing to stump up cash for some kind of supply deal. Many a small mine has funding from an offtake partner for 100% of mine product for example. I would also think there is possibly negotiations re more cash from a group who would like the rights to run the mine/plant.
There are a few other things that could be announced like an updated DFS but funding is the main concern. Getting an updated DFS that makes already good numbers look even better means little if you can’t get funding. More news regarding progress on the ground although gratefully accepted means little if you can’t get funding. News on the plan for compensating and moving the villages again very welcome but means nothing if you can’t get funding. I think you get my drift.
Management certainly did a number on themselves and got slapped down by share holders which hopefully brings them back to reality. Management all have skin in this and have for a long time but got a little carried away I feel. I don’t think seeing management put in for every CR is necessary. Seeing them sell down is altogether a different story and warrants further scrutiny.
My above comment are not negative just realistic IMO. I do think funding will come as I have said before but lack of confirmed funding overshadows all at this point for WKT. More communication is always better than the silence we tend to get but that’s the way it is for now and not unusual for WKT in the past as well as others.
