WWI 7.69% 1.4¢ west wits mining limited

Ann: Quarterly Activities and Cashflow Report, page-3

  1. 3,062 Posts.
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    How are the illegals getting there supplies Timmo??? I have been wondering that myself. I suppose a helicopter comes in further down the river outside West Wits Boundary and resupply that way. Must admit the Quarterly sounded good, even Derewo. What had me worried is that our partner might just walk away because it is to hard to fix the illegals issue. I also didn't realize the heavy equipment cost so much. Maybe because they hadn't had any issues with the illegals for sometime, they let there guard down over the break. Hope they have learned there lesson and increase security here on in. Wow though, the illegals have cost us $70,000 - $100,000 and that alone is good reason to get them removed once and for all. Little foolish of the illegals because if they had just behaved themselves, the company might allow them to stay longer but if they keep causing trouble then they will force the company and partners hand to do something about the illegals once and for all. My problem is that in 2011, WWI lost interest really in SA and Derewo became the priority and I had pretty well much given up on the SA assets ever being worth anything. except maybe a sale for about $7 Million which would go towards Exploration for Derewo. I decided to actually read the update today on SA assets and only now am I starting to understand the value of this asset. With SA assets coming along very well and the partners re-affirming there commitment for the Derewo project, things are looking very good for the company. If only they can overcome the illegals problem, WWI could be worth a very healthy market cap in the future. I have been very angry about Derewo but now that an update has come out updating us and now we know what actually happened, I am feeling more relaxed about the issue though we cannot afford to have too many of these types of incidents. We need to start generating income from Derewo to repay our partners costs to date or they will end up walking away. Changed my sentiment to "Hold" for the time being and may upgrade again to buy depending on further updates.
 
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