Looking at TMZ, WRM's joint venture partner in the Mt Carrington Project. TMZ like WRM had stuff all cash at the end of the quarter (30K TMZ, 100K WRM). Now two weeks later their executive Chairman has resigned (nothing to do with the companies state of affairs). They have sold off a key asset (Bygoo Tin project) that just announced good results last week for 600k, and they plan issue new shares, one for one, at a 89.4% discount. IMO not only is the Mt Carrington project probably a write off, but this is an example of what could come of other companies in a similar financial situation.
WRM Price at posting:
6.3¢ Sentiment: Sell Disclosure: Not Held
