*DJ Mineral Resources to Exit, Unwind Existing Arrangements That Don't Have Compelling Commercial Benefit: Chair
Just saw this announcement cross the newswires and it sent a shiver down my spine. MIN's 19.8% of WC8 probably falls into that category (of no compelling commercial benefit to MIN) as they don't have the funds to develop it and don't want to hold onto a significant investment for another 3 - 5 years to get some money back.
I fear there will be an overhang of WC8 stock with the shorters now confident they have easy access to a swathe of shares to cover their (likely) growing short positions.
That was my trigger to book a small loss and cash out.
Not saying it's a certainty, but in this market nothing is safe.
WC8 Price at posting:
26.8¢ Sentiment: None Disclosure: Not Held
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