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30/09/20
20:20
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Originally posted by brianchu82:
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The reason for the low EV/reserve is because the company has had a long history of delivering below expectation and also a couple of capital raising bungles that left investors a very bitter taste in the mouth. You can have a lot beneath the ground but if it is a lot of work and expensive to extract it, as Wiluna Mines has shown in the time they started producing, then it is not worth a lot to an investor. They even changed the name of their company partly to try to put aside the past, but many investors have a better memory than that.
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New picture now. I remember you sold out, quite a few dozen percentage points below current depreciated share price. We will see.