Hi Spid, yes it's those simple words "at all times" that are a concern, it doesn't say "at end of Qtr".
On your question whether I had considered WKT was unable to raise funds, no I hadn't considered that as it would presume they have tried, which I have no knowledge of or reason to believe they have, though they may have . Perhaps it would be more up some of the sophisticates alley than anything I would ever know about. But also in the past their raisings have been pretty well supported by holders and Directors, though the loan servicing does take everything to a whole new level. Their last raising was a little disappointing, particularly the number of Top 20 who didn't seem to participate based on your analysis of company released Top 40 reports at the time. But that raise was under extremely difficult circumstances.
They may also have other options to delay the commitment, ie agree with Gemcorp to extend the grace period again, it was initially Sept 24 so Gemcorp seem willing to work with them, which is extremely important.
But it's certainly a big ticket item to keep an eye on from a cash flow perspective.
WKT Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
(20min delay)