WFE winmar resources limited

The absence of an offtake announcement on the ASX is the key...

  1. 10,557 Posts.
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    The absence of an offtake announcement on the ASX is the key indicator of no such agreement - twitter or private emails do not pass the test. Confirmation can only be made via the ASX PLATFORM. The crash in cobalt prices crashed the dream for WFE. No one expected the fall below 50000 usd and definitely not to the base support levels of mid to high 20000usd. Securing ore means a higher cost vs own resource supply through exploration and mining. Critical was no feasibility of the project was ever announced - this was and is akin to the DFS. Further, Customers were not keen to make any commitments - a falling market is not conducive to negotiating favourable prices for the seller. This was the beginning of the end. Yet wfe continued to push a relist, in essence not understanding that the requirements could never be met in the absence of key requirements. This was and is the main issue - not identifying early on the prospects of successful relisting and as a result burning through the cash.
    Scarpa your assessment imo is spot on. Wfe commenced a circular argument which was never going to be favourable.
 
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