Finance news about to hit the market, page-115

I didn’t lose money on WWI and I have a huge amount of respect for MQ’s resilience but even more so for the work Jaq has done with his hands almost tied behind his back. On the smell of an oily rag and with no public facing experience he very nearly pulled off the impossible. Almost.
Miming is a risky business at the best of times and margins rise and fall so quickly as we have seen. Unfortunately the opportunity to go mining has passed for WWI and it’s only being set up as a sale. With that in mind what do you really think this is worth, or more importantly what or who would buy it? Given one of those potential buyers already shut the gate I don’t think there is a long line up to take it on. Like Theta, Aus companies are finding it more and more of a sovereign risk every single day. South Africa is now not even in the top 5 countries in Africa for risk. It’s a basket case growing worse by the day with illegal mining, transport and power failures and large strikes. WWI is highly exposed to all those risks and has only 1 mine right in the heart of some of the most dangerous places in SA.

I liked WWI for a long time but the failures by the board and other local SNR Management have resulted in an asset that is now only a sale option and for the reasons listed above that price will be well below what some dreamers here have in mind.