WCN

5.00%

1.9¢ white cliff minerals limited

there was no ann for drilling as the results are historical...

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downsyde

1,066 Posts.

31/01/18

12:02

Post #: 30693796
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Originally posted by CAS777 ↑

This company should change its Name to Disallowed Sales code SOS. I am no longer a holder and it is for this very reason no mention prior to this update of drilling being carried out which lead to the discovery of the cobalt results we are now seeing. Why is this a concern? Todd and Mike do not seem to be focussed on getting a mine into production but rather selling hype to fund their director lifestyles and pump Wcn just before a capital raising. We have seen this countless times, its not a new WCN play. As a past shareholder my concern was always the dilution that comes every time a capital raise was carried out. This is not a concern if the company is actually moving towards becoming a producer of Gold, Nickle, Cobalt, Lithium ...whatever mineral is being sold at the time. The problem is that shareholders never get a substantial drilling program and bang for their buck. Majority of funds raised for exploration get bracketed as other every time the cash flow reports come out? The best thing the Directors can do is to generate some cash flow to fund the various drilling programs that are being carried out with out the need for constant dilution. There are many ways they can achieve this right not, sell of some non core sites to fund drilling, set up a gravity plant at AUCU and begin mining. Use the funds from the gravity plant to develop the site further. The issue is not that Wcn doesn't have the means to become a producer, its that the directors do not seem to have the desire to do so. If I were still a holder the latest update would fill me concern rather than confidence because it shows a lack of focus on what are considered WCN core assets. The company owes it to shareholders to bring a site into production and put a end to the constant dilution. The best thing current holders can do is band together and vote to spill the board. It seems like a drastic move but until it is done I cannot see WCN really going anywhere other then threw the motions of pump and capital raise. I do think the assets held by the company are world class unfortunately the BOD are not.

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there was no ann for drilling as the results are historical...

WCN Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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Last 1.9¢		Change -0.001(5.00%)		Mkt cap ! $30.95M

Open	High	Low	Value	Volume
1.9¢	2.0¢	1.9¢	$110.1K	5.771M

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No.	Vol.	Price($)
1	149999	1.9¢

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Price($)	Vol.	No.
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3	896666	0.018
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there was no ann for drilling as the results are historical...

Week 38 Wrap: US markets panic at 50bp cut; ALS’s minerals revenue slowdown; RBA path unclear

Westar wraps up field campaign at Mindoolah after divesting non-core assets ahead of 2025

Firetail executive changes set to propel development in Canada and Peru

Catalina Resources kicks off aircore drilling at Laverton project on the hunt for gold, REEs

Tennant Minerals clocks high-grade gold, copper hits at Bluebird in the NT

Drilling shows continuous Cu mineralisation at Whundo for Greentech

Sandfire's latest drill run extends known polymetal mineralisation at the Sesmarias Prospect

Harvey Norman hit with a second class action – and shareholders, once again, don't care

Develop Global appoints GR to get Woodlawn copper-zinc plant online mid-2025

ASX Market Open: Aussie stocks follow US surge after Fed rate cut decision | September 20, 2024

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there was no ann for drilling as the results are historical...

Top Stories

Week 38 Wrap: US markets panic at 50bp cut; ALS’s minerals revenue slowdown; RBA path unclear

Westar wraps up field campaign at Mindoolah after divesting non-core assets ahead of 2025

Firetail executive changes set to propel development in Canada and Peru

Catalina Resources kicks off aircore drilling at Laverton project on the hunt for gold, REEs

Tennant Minerals clocks high-grade gold, copper hits at Bluebird in the NT

Drilling shows continuous Cu mineralisation at Whundo for Greentech

Sandfire's latest drill run extends known polymetal mineralisation at the Sesmarias Prospect

Harvey Norman hit with a second class action – and shareholders, once again, don't care

Develop Global appoints GR to get Woodlawn copper-zinc plant online mid-2025

ASX Market Open: Aussie stocks follow US surge after Fed rate cut decision | September 20, 2024

Featured News

Buyers (Bids)

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