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17/03/23
23:43
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Originally posted by Chicarno88:
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Neither company are insolvent WRM and TMZ have a JV at Mt Carrington on development TMZ just sold Texas mine and made a profit. WRM have substantial assets with $6B in situ at Mt Carrington ($1B) and Alaska ($5B). Of course in situ is not the best way to value these assets. There was an independent valuation by GSA, valued WRM at $0.43 based on the likely re-sale of the mines they have EL, and ML's on. Report is in company announcements I believe 2021.
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Further, isnt it also possible that the board of WRM is meeting perhaps next week to agree on the Half yearly report? There is a list of companies that were late. Also, given that they raised the shortfall in the SPP @ 7 cents, it goes without saying that they are not broke nor insolvent. No long-term debt, options being canceled, sophisticated investors putting in $2.9M, hardly a train wreck as some are posting. Assets value at Mt Carrington and Alaska speak for the company's net worth.