HI .. planned to post yesterday but ...anyway just had a...

HI .. planned to post yesterday but ...anyway just had a friendly chat with Richard pearce ..at WHE( he answers the phones now!!) 1)They have also battened down the hatches...cut down on staff and taken pay cuts..All the Directors and the core group still have the same resolve to see these projects through to mining..
2) Theoretically even if the share price drops even further the co ., will not go into admin ..since they have cash reserves ( I asked him which bank:) ANZ ) which will see them thru for a period of time 12 -18 months at least till the situation recovers
3)They will retain control over their leases as they are very confident and positive about them.
4) in Richard's Discussions with Utilities in the US the utility companies are quite worried about the supply dynamics into 2009 as the present crunch has affected supply even further
5) of the original major shareholders all of them except for geiger counter the rest are fully behind them.. geiger counter a hedge fund has other liquidity issues and thus have had to liquidate theitr position significantly
...
and IMO 6) The huge volume being sold is still geiger counter who had gone under 5% last week and now do not have to disclose ..and would still be selling to liquidate..a major reason why the SP is just terrible
7) the whole discussion was very positve...from my previous chats with RP and watching their presentations at a mining conf few months back..The team is very focussed on getting the job done...so barring a complete macro breakdown I think they will still see these projects thru

* Things to watch for -- a recovery in the u308 SP ( which is slowly turning around as we speak and the ability of WHE to raise some cash inlate 09 early 2010 if things in the global mkt improve.Time for people with spare cash to load up and wait a couple of years at least me thinks ( buy it as agift for the kids and chuck them in the bottom draw...the shares ...not the kids:) )pls DYOR
rgds
p.s I hold and am down significantly on these :(