WSA has had a tough time like all nickel miners, and imho still has a lot of belt tightening to do. However it does have quality ore resources and management that has yet to do anything materially really silly. With the quality assets they have they should imho be able to tighten the ship a lot more and stem the cash outflow. They need to imho, and some big salary cuts would be both appropriate and effective imho - effective both in quantum, and more significantly in changing the mindset as with these things the best leadership is done by example.
There comes a time when perhaps it is better to try to identify a bottom than to keep flocking the same old end of the world story.
I note that the HY results does not seem to have surprised the market negatively. The analysts (who according to some know sheet) must have appropriately forewarned those that matter in the market.
I can't now see the sp dipping low enough for me to buy in. It seems to be retaining some sort of premium that I am not prepared to pay for the quality of assets and/or management.
EL
WSA Price at posting:
$2.21 Sentiment: None Disclosure: Not Held