I wasn’t much talking about WMC specifically but was highlighting other possibilities rather than she’ll be right.
Looking at the quarterly though I have some significant concerns. The opex is a joke, all the costs are in investing activities, hence the point I made in the 4th paragraph. The $9m positive WC movement should be explained, in my experience it usually means trade creditors have increased because they weren’t paid at month end (I obviously don’t know this as fact), hence the benefit. The unpaid gold shipment as you mention, the debt and the negative mark-to-market would also be of concern.
I’ve been watching this stock for ages waiting for a point to jump in, but whenever I get anywhere near close, some bad news comes out of the blue or something like this quarterly.
WMC Price at posting:
93.0¢ Sentiment: None Disclosure: Not Held
