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6.3¢ white rock minerals limited

Chances of raising $3.5mill at 7cents from shareholders to save...

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HotRods65

8,231 Posts.

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16/12/22

08:59

Post #: 65335761
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Originally posted by autumnrain: ↑

I am trying to understand this latest announcement. After reading it I am totally confused. WRM previously announced that they had 30 million in funding. Then it looked like 7.5 million according to the latest quarterly. (2.5 used and 5 million available.) Then after these latest announcements I get the impression (but I might be wrong) that the funding has stopped and has to be repaid with a new placement? I thought with con notes they were exchanged for shares. Anyway I have no idea on what's what.

Regarding actual money, based on previous quarterlies it seems that WRM uses just over one million a month. As of 30 September they had 2.1 million cash with a loan of $435,000 and 8% interest to be repaid by 31 December 2022 plus a new placement of 1.3 million. Ruffly speaking it looks to me like the company will be running out of cash by the end of this month.

If the way that I perceive things to be is true then the company will be in admiration before the next quarterly comes out. If I have this all wrong I am happy to be corrected.

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Chances of raising $3.5mill at 7cents from shareholders to save it must be remote.

WRM Price at posting: 6.2¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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