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20.5¢ wiluna mining corporation limited.

Hi @Drugo, I noticed in the Jun'22 quarterly that the...

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GravityWaves

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04/11/22

12:20

Post #: 64589247
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Originally posted by Drugo: ↑

As soon as the creditors/contractors got paid their shares the share price got chopped in half. Could be litigation there.
However other shares were issued to investors too.
You can not give money to both. Or either one.
There is still the secured $40 mill. Loan to pay.
On the positive side the loan had approx 140k oz hedged at $us 1800.
There is also a build up of processed ore over 20k oz by this time.
However contractors need to be paid for recent work too.
Judging by current mkt conditions the bids will come in very low.
Even if they get the mkt cap on liquidation shareholders may get 5 cents/share at best.

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Hi @Drugo, I noticed in the Jun'22 quarterly that the administrators mention who is buying WMC's gold concentrate. It appears all of WMC's concentrate is being shipped to China. Perhaps the Chinese will put in a bid to buy the mine. Only time will tell.

WMC Price at posting: 20.5¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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