has drilling started, page-30

just my 2c here...i think that looking at these past couple weeks, these are some cold hard FACTS:

About 600mill shares or so?
The top 20 holders hold 75% of the company (or about 450M shares)

Volume for the past several days has been comparatively low (less than 25 mill or so)

SSPP just went through a few days ago at 21c

Announcement regarding exploration progress in QLD is imminent

Drilling in Tanzania due to start very, very soon

No directors have sold out


Conclusions I PERSONALLY draw from the above facts:

There's been hardly any volume. The people selling out are the everyday investors, not the instos. Possibly they are taking a quick buck from the SSPP, maybe they're getting impatient, or maybe they're not willing to take the risk that QLD results aren't spectacular. However, if the company had bad, bad news, the instos probably would have been spooked, and may have sold (if this happened, volume would be HUGE).

The company has a LOT of potential in the next 6-12 months and more. Tanzania is a largely unexplored country in terms of uranium, and WMT's exploration results there yielded samples in excess of 6% U308 p/t (correct me if I am wrong).

It does seem that the share price needs a good announcement to push it along again - but what company out there goes up in a straight line? Again, I think that if the news was horrible, we'd have seen volume much higher than it has been. Fair enough, there aren't many buyers, but there aren't too many sellers either (relatively, I see market depth with a few million shares on sale, that's nothing when there's around 600 million others).

So to draw a long story short, I'm holding. If it DOES drop any further I will seriously look at topping up.

DYOR everyone. Cheers.