My sentiment exactly hera. MW has proved himself over and over...

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TheGladiator

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24/09/15

13:50

Post #: 16052199
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Originally posted by heraclitus ↑

I don't hold yet but THIS is a perfect example of a competent mgmt team raising capital at progressively higher prices, so as to minimise dilution to shareholders. They could have easily done a low-ball placement (like so many other nanocaps) at 1c and had 300-400M fpo on issue now, but instead have got the sp up and placed shares, more or less, at-market. Mgmt continue to increase their holdings.

The soon to be registered WPIO series is also pretty exciting in terms of offering a highly leveraged play. It does remind of VTX/VTXO.

I suppose the only argument could be, why not wait till an Acq is made before raising any more capital, however, given the low cash reserves, mgmt participation, at-market CR price and still low # shares on issue, I think they can be forgiven.

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My sentiment exactly hera. MW has proved himself over and over again so if he believes they need to top up the cash reserves then I don't see any issues with that.

The fact they are buying at market prices is a huge bonus as there won't be any overhang whilst they try and secure an acquisition.

WPI Price at posting: 2.3¢ Sentiment: None Disclosure: Not Held
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My sentiment exactly hera. MW has proved himself over and over...

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