WMC wiluna mining corporation limited.

News: WMC ASX Says Wiluna Mining Corporation Will Be Removed From Official List, page-4

  1. 3,525 Posts.
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    "CORPORATE
    The Wiluna Mining Group remains the subject of a Deed of Company Arrangement. Its Administrators consider arecapitalisation strategy will provide the best value outcome for the Group’s stakeholders.This strategy has four elements:

    1. Continue to produce surplus cashflows from the tailings retreatment project supplemented by toll treating andlow capital cost mining opportunities. Use these cashflows to service and reduce debt.

    2. Continue planning activities for a re-start of hard rock mining.

    3. Determine the required amount and source of required capital to implement the re-start of hard rock mining.

    4. Satisfy the remaining conditions precedent to effectuate the Deed of Company Arrangement being to completea capital raising and appoint a new Board.Wiluna’s operations and gold endowment are significant both in terms of potential shareholder value and strategiclocation as a central processing hub for refractory ore. An effectuation of the DOCA based on the above strategy isexpected to leave WMC well placed to add shareholder value in the short, medium and long term."

    They can't take our shares, they said WMC is well placed to add shareholder value. They said they were paying principle and interest to the creditors. I don't want to lose my share of the 7moz resource.

    I calculated my share of the 7Moz resource, it's 2000oz's of it which is worth $10,000,000 in gold or if operating cost per oz is $2500, that's $5,400,000.



 
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Currently unlisted public company.

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