Ann: Appendix 4C - quarterly, page-3

Yes, this is selling (44 cents) for way too cheap.
Cash on hand ($71 million) exceeds market cap ($60 million at a SP of 44 cents). You'd think the company is about to go broke on that market (non) appreciation!
And yet the company has profits of over $3 million for the quarter. Just like it did last quarter. Repeatable earnings of over $12 million per annum. Put that figure on whatever P/E you think is appropriate and see what number (just like ashc36 did) and come up with your own enterprise value. IT ISN"T NEGATIVE 11 MILLION DOLLARS I CAN TELL YOU.

Australian investors must not think this company is the real deal. Well income tax paid of $546,000 for the quarter tells me that WMC is the real deal. You don't pay tax to the government if you're pulling a scam.

Brokers will have to accept these figures as they pore over them on the weekend. I expect the start of a strong re-rating starting Monday. WMC is the real deal!