Disclaimer: this is information sourced from a variety of Australian newspapers, so if you see anything you know is wrong, I am happy to be corrected.
Mauro's private holding company appears to own at least 3 sizeable real estate assets that are reported to be up for sale.
La Bergerie (334 ha), 30 kms south of Perth, which we are informed has a 32 million price tag.
The Grange (14000~16500 ha) 351 kms north west of Perth reportedly purchased for between 20~30 million by the Stoney family in 2006; no idea of its current value.
Stirling cattle yards in Hazlemere, a mere 14 kms east of Perth CBD; no idea of its size so again no idea of its current value.
Mauro has reportedly been cashing in personal assets (Perth mansion ironically located next to Gina Rinehart) and shares to Fulida (@.50 cents), possibly to pay off personal debts.
The way a Mauro led managent team has seemingly squandered this public company's money suggests he might have further debts to pay, yet if the value of those abovementioned substantial pieces of real estate are realised, one could reasonably expect he would still have sufficient cash to raise his holding from his current 15%; that is on the assumption he wishes to remain at the helm of the ship company his father started.
In the absence of a show of faith by Mauro and other directors at their earliest purchase window, the share price will surely fall further and WLD gets taken over (the Intesla loan can be circumvented with the right deep pockets) on the cheap by either of Sino Marine, Gina, or Ruralco.
The fact that there are 3 potentially interested parties should avoid WLD being sold at rock bottom prices, but having watched this company sink to new depths, the competitors are likely licking their lips.
In short, the question is Mauro, our CEO and captain, what are you planning to do with the proceeds from these properties~ flee or show some leadership and stand and be counted?
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