WFE 0.00% 2.4¢ winmar resources limited

No I never passed any judgement on Myers, suitability or...

  1. 6,777 Posts.
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    No I never passed any judgement on Myers, suitability or other....

    It's a conundrum,
    (a) with the lack of any information (released announcements) that Myers was involved at Lindian Resources, do we go on hear say?
    Unless I can be pointed to one that I may have missed, but it appears that he is venturing out and trying his hand at directorships, as he has only been at Roto-Gro since June 19.
    (b) have you thought, given the sentiment to the WFE name brand, the pool of directors wanting to come on board may have dwindled dramatically? and that Ahmed is here because of that reason?
    (c) here is a tickler for you, his links with Roto-Gro maybe a strategic move, WFE might venture into some sort of crop rolleyes.png
    (d) another tickler, maybe they are still looking over in the DRC as "African Royalty" still have the Mpokoto Gold Project they tried to sell to Gladiator Resources.

    Interesting to note, that you weren't adverse in the appointment of Ahmed, considering he had no prior experience in being a director of a listed company? but I also get that he has a vested interest in to making this work. Although I have also indicated that the cost of his capital in WFE has been largely recouped through Sixty Two Capital acting as lead manager for capital fund raising.

    @TheCount something else to ponder and IMO only, assuming that you also think that the costs associated with the $750,000 loan are quite high, re: your suggestion of having some/parts of that loan agreement revoked at the AGM.
    Time line suggest that AHIC wanted or the "second" payment was to due to secure the Luapula Processing Facility, after making the second payment and with the funds held in trust for the mining acquisitions, the coffers were getting low.
    The funds for the "future capital raise" were indicated in the Sept 18 quarterly, from my calculations without them the company would have a negative cash/cash equivalents, hence the $750,000 loan. The importance of the loan became more relevant when the (for whatever reason) the funds for the "future capital raise" were returned.
    As much as I think the conditions of the $750,000 loan are extremely high, namely the 20% fee, it was obvious (IMO) that it was necessary and the "beggars can't be choosers" take it or leave it scenario came into play.

    cheers


 
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