Hi CAS777 and all, I agree with everything you say; however, the...

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AndyIgo

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31/01/18

10:18

Post #: 30687835
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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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Hi CAS777 and all,

I agree with everything you say; however, the bulk of their shareholders clearly think differently to both you and I.

This new group of so called sophisticated investors are so enamoured with the current directors they recently rewarded them with performance bonus shares!!!

Given the number of shares on issue and the constant low price CR’s like you I just feel there are better places for one’s investment dollars. I was never a big fan of G W Bush but perhaps he had a point with this famous quote of his:

“You can fool some of the people all the time, and those are the ones you want to concentrate on.”

Of course, just my humble opinion and as always, I suggest full and due diligence be completed prior to supporting any other person’s life style!

Cheers and very best regards: Andy

WCN Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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