Thanks Msn81,
Well informed to an certain extent like others here through reading of posts, but sizeable holding unfortunately not true.
Like others here we have had our dreams dashed with the failure of the cobalt transaction and I continue with my daily grind of a job still dreaming what would could have been if the ASX had approved the transaction. Yes, I have been censored in the past by the HC admin for calling the truth a few times why it really failed contrary to the now gloating negative posters whom seem to have a many new followers recently.
Yes the deal was real, yes it was slammed down by the powers that be due to factors of the rampant price rise of 2400%, previous dark history of a former director and day traders profited well along the way. O.K I admit also the Brewer factor of mismanagement is partially to blame as well but its not the main reason for the failure. We have to move on now as no use in blaming people and their actions as its waste of energy and time.
However contrary to many speculation here recently on HC about the top 10 shareholders "killing it with price rise and jumping ship ". This is incorrect and false as the main five sub-holders did not sell even one share; that is Ahmed Bros, Air-guide crew and Markovic, ect. They in fact held strong and even bought more up to the lead up of the sudden suspension. They are probably working hard now and picking up the pieces in order to salvage, protect and save the company , while the ignorant blaming goes on about insiders "knew". Without these guys the company would have folded and put into liquidation a while ago. See them as Saints and not Sinners.
So this leaves us now with today and the future of Winmar. Will it fail in the short term and shareholders lose their money? I don't think so as the main shareholders are currently in the process of saving it from the predatory sharks that surround in the form of aggressive debtors wanting their fees for the cobalt deal, corporate raiders. When you eventually find them out who they are and what they did to save the company, then you will be counting your lucky stars that they did not sell out in the hype in early 2018. Why would they help the company and throw good money after bad? Well I assume they are protecting their million dollar investments in the company and their reputation with the moral obligation to help shareholders not lose all their money.
What about the current management ? Well this should change shortly as their position is untenable and hence the jumping of ship of Micheal Fry to greener pasture to continue on the voyage of lifestyle salary positions. Typical of this parasitic lot with many directors asleep at the wheel, pretending to work hard at once a month meetings, lunches, golf ect. while collecting their $100k per year from a number of companies.
What about Brewer? He is a lame duck and will likely be asked to leave was well before karma sets in for its cycle of justice of punishment for his many silly decisions in numerous listed companies. Expect a very tight run ship with minimal monthly expenses as they slowly nurse it back into survival mode while they put out the fires. Eventually all fires are extinguished by usually the bravery and hard work of the fire fighters and sometimes the rain comes to save the day. Lets wish them well in their battles to put out the fires and hopefully the forest will regenerate again with green shoots popping out in a few months with good news.
So where to from here? I think there will be a total board change for the short term for the better with the major shareholders jumping in steer it through the storm it faces. This would much better than the garbage we currently have running the show.
Their current tasks would be to defend the fort with the few resources they have and no money in the bank. A hard task if you ask me risking good money after potentially a high risk investment just to say Winner so it can fight another day. Once the fires have been reduced or put out , the direction I see is one of survival till another good asset is found .
There is no "rinse and repeat " cycle as many here on HC claim here but rather "Rinse and Survive " as there is no money in the bank. So we will see a new conservative and well heeled board with big skin the game and then a capital raise again so we can fight another day with either the sale of the iron asset which has various valuations and is a saleable asset to chinese parties ( the current coranavuris is not helping though with interest in many assets ) OR a new exciting asset to be slotted into the company in the next few months. This time the new board will have the wisdom of the past mistakes of the cobalt deal and its dealing the ASX to make sure the transition will hopefully be a smooth one.
And finally ....when do I think we will re-list ? I can't answer that one. Sorry as I don't know nor do foresee it in the short term. But when we do eventually re-list, expect a massive drop naturally on the day of 75-90% and back to the reality of being a shell with a decent iron ore asset. The brave and deniers will hold on, while I think it could be a great buying opportunity if one has faith in the assumed new board. These main sub holders have a lot of connections and expect a rabbit out the hat in a few months. Time will only tell.
I remember a famous stock market story by a Rothschild, when he famously caused the London Stock exchange to collapse with the false rumour that the British had lost the battle of Waterloo and that Napaleon had won. The London stock exchange had collapsed 95% on that dark day, however Rothschild had an amazing network of spies and agents who told him the truth hours beforehand that Napolean was likely to lose the battle. His best spy had witnessed the battle from the Waterloo hill top and knowing that Napolean was out manouvered by Wellington , he knew the battle was in its final hour. He then raced off to the English channel and rowed furiously across the English Channel and sprinted via horseback to London to deliver this vital information to his master, Lord Rothschild.
Armed with this knowledge, Rothschild started selling suddenly everything he owned causing others witnessing the "king of the stock market " to panic and also to sell everything. This caused a massive drop in the London Stock exchange as it was feared that Britain was doomed and that France would rule the commercial seas and Europe.
However, Rothschild had the advantage of knowing the truth ahead of everyone else that all was really good for the British Empire and Napoleon was defeated and secretly told his agent buyers to buy up all stocks at the bargain fire sales of 80-90% discounts in the day of the massive sell off. When the next day the official information had arrived to the market, that Wellington was successful in victory over Napolean and Britain was now the undisputed master of Europe and the worlds seas, the London Stock exchange was over-joyed with a massive rise in prices which Rothschild had bought at fire sale prices the day before creating a secret massive wealth that is rumoured even today to be in the trillion dollar mark that is hidden in a elaborate web of trusts and off shore holdings.
Just remember on that eventual day when Winmar re-lists, there could be a Rothschild hidden amongst the brave buyers, mopping up peoples panic and fear, which they may regret in their rash and panicked state in a few months.
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