WMC 0.00% 20.5¢ wiluna mining corporation limited.

Grossly Undervalued, page-95

  1. 2,846 Posts.
    lightbulb Created with Sketch. 795
    Yes the numbers do show that this is not a sell off and will not be. If you were a top 20 selling out because you had no faith in the company this would have been done already as they will want to be the first out. Leaders exiting always get the better price. Why would you sell now???? The leaders in this case is panicked retailers and ST traders who had not invested for the long term. Remember in most instances retail always act after the smart money. It was tightly held prior to announcement with a long duration of miniscule volume days therefore I think top 20 are still definitely in.
    Recent announcement is possibly an approach to limit SP destruction before quarterly. I think this was good timing as everyone would expect management to bring out some positive news regardless of what it is as an effort to stem the destruction in SP.
    My gut is QTR'ly will reveal a significant amount of prep for next 6months as they will want to ensure there are no nasty surprises prior to Jan oppies expiry.
    Price now gives s big shark a nice entry point once quarterly is digested.
    They are still making money and almost out debt neutral. Far more better AISC for next 6 months than MOY had budgeted at 1500 and yet market did not murder their SP??
 
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