If indeed the info is correct and a CR at lows is upon tomorrow/soon then this coy is following the other coys to a T on how to run a company to take from mum and dads instead of working hard to gain SP appreciation....
Why did they pay $20m for a plant that cannot run without breaking down and a gold field that has proven to break everyone that has tried to make a go of it?
One particular board member is an expert in finding money for the companies hes involved in and his firm and "inners" make on the fees and huge discounts given to the raising...
It has happened time and time again with these types of people and the last few companies they have been involved with as i have stated before have gone into Administration..
The only ones to make money are the Sophs(inners) the money men(fees) and the market makers that help the volume when needed...
The story of buying AUL and being in instant profit was a HUGE sell, there were AUL'ers topping up, there were WRM'ers buying AUL thinking they were beating the market but all the while the plan of the money men was happening..
What makes this work is to trap as many holders in as possible and keep lowering the price trapping as hard as they can so when a raise comes at discount even then when the price is pumped for the "inners" the long termers/"believers" still cannot exit because they are nowhere near their break even, in the mean time the pump has managed to make huge profits for the inners and the money sorters in commissions(management in this case)
Then when this has been squeezed to death either a consolidation(if they can get away with it like they did at AUL)or administration will be the go and 99c in the dollar will be written off for another bunch to rinse and repeat
Who gets hurt........MUM and DADS.....ALWAYS
Follow the money and if most did their DD on following the money that gets in and out they would not of touched this with a barge pole..
The story of untold riches does catch a lot of mum and dads but who is connected in the BoD always tells the true story..
GL all
WRM Price at posting:
31.0¢ Sentiment: None Disclosure: Not Held
