Fair enough Roger. Many existing shareholders will quite rightly be sceptical of White Rocks ability to perform - as in fund, build, actually drive projects.
White Rock has been capital constrained for years - as in progressively raising more capital to exist/pay salaries - diluting shareholder value on the marginal economics of Mt Carrington and remote Red Mountain.
I get it, but the world has changed ... That is likely to drive changes within White Rock, but I also feel that WR really wants to make the most of the one-off opportunity it has.
I don't wish to cross promote, but raise the following as the example to follow:
Matador Mining was in a similar boat until very recently. The potential value of our assets skyrocketed and MZZ realised they had to move from hope to experience ... to bring in the guys who had done it before. Ian Murray was appointed as Exec Chairman (ex MD of Gold Road) ... to drive the daily activity, backed up by the likes of Mick Wilkes (ex CEO of OceanaGold). This was done amicably and quickly. MZZ now stands beautifully positioned to perform - for the benefit of all, old and new.
In our case the US based shareholders see value and want to be friendly activists. I've no doubt they want White Rock to become a "can do" company as well. Imo, the new circumstances require the presence of some hard driving experienced types, who've done it before. Matador has proven that such additions/changes can be amicable. I'd expect a slower transition here, but for White Rock to replicate a similar win-win setup. Maybe, just maybe, we become a real powerhouse if we aren't taken out early on.
WRM Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
