I was also suspecting the Kiaka debt is weighting the investment sentiment, due to the current high interest rate. However, recently I tend to think more likely a TO is in the making. If we look at the significant holding change, there has been nil since 23 March, yet the SP has been continously worked down. And there is not much short positions added either. This points to a possible purposely working-down strategy. Had the shareholder genuinely worried about the debt or geopolic concerns, at least some significant change announcements would have been put out, and the short sellers would not show any mercy.
Anyhow, better turn my eyes away from this stock and check back in July. As Jrowl1 said, keep expectation low, as least for short term. Keep adding if SP hits support levels if financially allowed.
Good luck to all genuine WAF believers.
WAF Price at posting:
95.3¢ Sentiment: None Disclosure: Held
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