WMC 0.00% 20.5¢ wiluna mining corporation limited.

I was fooled into throwing more money into a few of their CR's...

  1. 2,444 Posts.
    lightbulb Created with Sketch. 27
    I was fooled into throwing more money into a few of their CR's years ago as the SP went from 20c to 1.20 and down to 1c which is where we're at again now given the restructure of capital, after all these years were at the value of 1c.
    For over half a decade its been the same:

    - Operations upgrade and ramp up to 100k+ oz on the horizon
    - Bad quarterly result and woeful AISC just an anomaly and that the next quarter will be better, they're stockpiling ore, they had a crusher fail, plant fire, flood etc.
    - Annual production volumes down from start to finish of year each and every year.
    - AISC seems to rise with the cost of the gold price
    - Capital raising seems to co-incide with poor bottom line and ability to continue as a going concern but airbrushed with operational upgrades.

    People will ask, why do you still hold? We'll its worth so little now and like a bad poker machine that may pay out a little the compulsive gambler in my always keeps a smidgen of hope that the SP will rise. It would need to go to $100 a share though to reclaim former highs and given that would mean a market cap of $12bn they would need to find 5000 welcome strangers buried deep down in the pit. But knowing history repeats, they could do this and then come out with an AISC of $10,000 due to some reason or another.

    Last edited by johnnydust: 24/03/21
 
watchlist Created with Sketch. Add WMC (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.