Can’t see that happening any time soon mate. WR1 management have already made it clear that Renard won’t go ahead without a strategic involved. If/when the Renard deal falls over, I think it’s safe to expect the share price to hit the low teens.
Then of course the company will need to raise again in the not too distant future, given the ongoing high salaries and other expenditure, coupled with the remaining FTF funds that still need to be spent, and the break fee for Renard.
With all that in mind, if the deal falls over, I think it’s very likely that we’ll be under 10 cents before the end of the year.
WR1 Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
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