Hi Bluebottle...you have a lot of questions, so I will try and do them justice...and at the same time qualify any responses I make as my opinion only...it may be right or wrong depending on what happens in the future and/or one's personal conviction on this stock.
In researching a stock I would go back as far as I thought relevant to today's actions and activities of the company and as such that varies for all stocks...May 2015 is relevant for WKT.
Believe all I read and hear. I am 55 and I have seen many promises in business, most (but not all) made with the best intentions. I have seen some come to fruition and some due to circumstance beyond one's direct control not coming to fruition... case in point with WKT is the lithium license/s in Namibia...WKT believed that these would be granted by Tanzanian authorities in July this year. These are still not granted and we are at the end of September, so one has to determine is this a factor that we make WKT responsible for.
In regards comments made by Directors at last years AGM, I cannot comment as to what exactly was said and in what context it was said. However if what was said by an individual contradicted what was put forward by the company, then I would follow that up personally with the Director that said it.
Cash raising. I look at the Quarterly Cash Report dated 27th July 2016 and see the quarterly cash burn for the quarter ended 30th June 2016, the closing balance as at 30th June 2016, and then balance this with the expected drilling activity that was to be conducted in the 1st Qtr 2016/17 (just passed). I expected a cash raise in Qtr 2 and this is now happening so I am not surprised. I think with the new Chairman, he will be ensuring that he can be making strategic financing decisions without having his back to the wall if cash is run too low. In regards timing, yes it would be great to have all the results out before the cash raise announcement and if the results were good the share price being much higher would mean less dilution, but I think timing has more to do with what Chairman may be working on in the background...I may be wrong.
In regards Market Capitalisation, yes I too get frustrated when I see inferior companies have a superior market capitalisation to WKT. So what do I see as the cause of this. I think there is still quite a bit if uncertainty in the market with WKT in regards not having 100% ownership of the graphite licenses, but if you look at the bottom of page 13 of the prospectus, you might see something quite interesting there....as I read this, it may be that WKT are going to issue shares for the purchase of the remaining portion rather than pay cash....I am going to follow this up with WKT as to what this means.
In regards your comment "Unfortunately whilst you continue to throw MUD at the negative posters they continue to be justified in their comment." I am somewhat puzzled by this. I only respond to 1 poster and my postings seek to provide a balance as to what they post... I don't believe that I "throw MUD" at them for no purpose...I seek to demonstrate they are incorrect and quite justifiably they should be refuted...simple as that...You state "they continue to be "justified in their comment". The last 2 posts I have made were in regards Directors Remuneration which I proved were incorrect and are quite the opposite quite "unjustified in their comment" ....that is all.
Do I think that things could be done better. I am not in the day to day thick of it to know the answer to that question, but in may career I have been involved in many company start ups and company turnarounds and do know that very rarely does all things in business go according to timing and planning....and that in Australia, goodness knows how much harder it must be in Tanzania. What I do see here is that timing may not be perfect but I do see the correct boxes being ticked and each box ticked takes us closer to hoped for outcomes.
I do hope that given the period you have held your stock that we can both see this turn and that this will one day be something we celebrate together.
Best wishes
Jaytee1
WKT Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
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