They will come cap in hand for more money saying it is for Rex 4 and operating costs. I am dubious if they will do Rex 4 and if they do it and it is a duster then the company is over. They have no positive cash flow, they have no real MD so another $250k has to be found to cover that before we start being cash flow positive. Unfortunately the asset is in decline. Too many negatives against the company.
Warro has too much water so will be hard to sell.
Either way i am not putting any more money and will take the capital loss. Not throwing good money at bad money!
WBE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
