The gold is not economically viable
the plant cannot sustain production without failure/breaking down
the story has been told many times before with the same effect to investment returns
wrm bought AUL after the CEO of WRM failed at AUL
the share price is down 85%
they cannot raise anymore money and the last raising was a shortfall of over $2.5m, they only wanted $4m
enough in the bank to last a couple of months and that’s after they just had a CR
CON notes the worst finance that any company could go too, even that failed and they had to pay it back
When will people realise that this is just a way of a few to make money, as an investment this ground and plant has failed, failed and failed again, it CANNOT work using exactly the same model as the other failed attempts, just tweaking the old reports does not change the narrative
I did say a bit ago that 7c was a better way of retaining some money instead of a complete tax write off, now we are closer to 6c and looking dismal, still 6c is also better than a complete Tax write off
Soon it will be 5,then 4c and then the doors will be shut
“if they could only cover operating costs”
why now? They have never done it before and there is no Jorc to guarantee feed….
History is repeating itself, unfortunately the only way this ground has ever made money was by handpicking the gold and that’s where most of the 800kounzes have come from that the last few have tried and WRM now are always spruiking
The worst gold explorer and producer(lol) of gold on the ASX
WRM Price at posting:
6.4¢ Sentiment: Sell Disclosure: Not Held
