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20.5¢ wiluna mining corporation limited.

News: WMC Wiluna Mining Says Total Gold Bullion Sales For Quarter Were 4,815Oz Of Au, page-4

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yurts

808 Posts.

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06/11/23

12:25

Post #: 70746829
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Originally posted by GravityWaves: ↑

Hi @Cumberland16, looking at the Sep'23 quarterly (pg.1) it appears there's potential for WMC to re-list sometime during the next 13 months, but only if the remaining Conditions Precedent are completed...

Stacks of cash needed for a proper recapitalisation (at least $100M+ considering WMC desperately needed $80M with the last CR) and as we know from history, mining at Wiluna easily burns through truckloads of cash regardless of who's running the circus.

I think the Administrators have done a pretty reasonable job keeping WMC alive while cleaning-up Milan's mess.

It'll be interesting to see who ends up stepping-in as MD to take on the challenge of mining & extracting gold from Wiluna's refractory sulphides.

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What a basket case - they have burnt through the whole of the windfall from the concentrate sales operating Wiltails at a loss. With nearly no money left, what will their next move be? Borrow more or liquidation by Christmas?

WMC Price at posting: 20.5¢ Sentiment: None Disclosure: Not Held
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