Ann: Quarterly Activities Report, page-18

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spid81

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30/07/22

09:59

Post #: 62826310
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Originally posted by semi retired: ↑

WKT is looking very strong now with these last 2 announcements and far from insolvent, the down rampers will need correctional training on how to assess and pic a profitable mining project, they will disappear soon , it will get very embracing as WKT commissions Lindi Jumbo and becomes highly profitable and successful , the rent a down ramper crew have wasted thousands of hours and will be discredited , there is no chance WKT will be trading insolvent , WKT will make it to highly profitable production , most top 40 share holders are keen to assist with an interim bridging loan if needed ? it appears now we have line of sight to production with the binding sales agreement signed with Wogan and the EY valuation @ 50% completion as of the 30th June is enough to satisfy the CRDB drawdown , @ a LVR of less than 15%, WKT's chances are excellent .

8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:

8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
Answer Yes. Work on the construction of the Lindi Jumbo mine continues. Contractors have deferred payment of current works.

8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: Yes. Lindi Jumbo continues to progress arrangements to allow first drawdown of the CRDB facility. Walkabout is in the process of obtaining some limited interim corporate funding from some of its shareholders. At this stage the company believe that both are achievable. The Company will keep the market informed as discussions progress.

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: Yes. Work continues at Lindi Jumbo with the support of its contractors. For that work to continue during the next quarter it will be necessary for the CRDB debt draw down to be resolved.
The company is working with CRDB to achieve that.

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

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hi Semi,

you really are deluded.

EY has valued the project and the SBLC parties has said we want more cash and assets before they offer their funds.

how is this positive?

regarding WKT solvency, you really need to think about all of the cost the company has, if some of the workers didnt capitalise Its costs (by not getting paid) WKT would have no funds.

we also have no director loans, they werent even willing to defer their remuneration or get paid in shares.

then we have shareholders who only want to provide a short term loan to cover corporate costs. This sounds like they have even given up and know funding situation is dire.

keep selling rainbows and unicorns, this is all bad news and the offtake agreement is even worse. It doesnt become binding until wkt produces 15k tonnes.

WKT Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
5 Upvote

0 Great analysis

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