Not sure if it was me who first mentioned WMG on this thread but regardless. Like I said, I sold out that stock maybe October last year after holding for at least 6 months. Sold as I saw way more near term upside with AW1. Why?
Just had some great results out of Storm, had been promising Jorc for West Desert by mid Oct since maybe Feb 22. What happened!
Jorc delayed to mid Jan, raised almost $3m mid Nov to progress Storm. 6 weeks after raise the money was spent, left with 600k, as per quarterly issued end Jan. Issued performance shares at AGM Dec. Missed Jorc again, another 3 to 4 weeks late. Then didn't include Indium into Jorc.
As Jez says, hopefully they learnt a lesson but I lost at least 35k on this by bailing out most of my holding at 11c but if I was more sceptical of managements promises I may have not lost as much here and made at least 300k by holding my WMG.
I'm kinda in the once biten twice shy camp with AW1. Some lessons I have taken away from it though but expensive lesson nevertheless. I left myself with some options and 400k shares and have added a bit after the cap raise so my AW1 avg is around 8c
Good luck with your investment, you could do very well from here, if management don't over promise and under-deliver again.
AW1 Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
