At least Jerry had skills!
WMX has... um... hmm... oh I know, a lot of gold! That.... they most likely cannot produce economically!
Got to love this part of the presentation, a real sound footing WMX sit on. Could management almost be brave enough to say 'Fully Funded'....
Then you have the funding situation. Dare I ask how much they are actually going to raise from the entitlement issue?
Do holders actually believe they can achieve $20m free cashflow.... (I do think they will get closer to $10m, but only because, the ore has already been mined! They are basically winding down mining for the open pit free milling... See how the presentation does not mention at all, what happens after September regarding their base load production! What sort of capital development is going to be needed after September? or it is all just smooooth sailing after that?
I hope holders can take this post with a small amount of humor, as I really don't intend to kick the boot in.
I just really, really find it difficult to understand that WMX is still solvent (or have a market cap of $150m for that matter).
