I would suggest it would be a very good investment to take up...

I would suggest it would be a very good investment to take up today before the offer closes.

I have already taken up the full entitlement as I believe the share price has been depressed by some investors selling part of their holding to obtain the cash to buy the shares at $1.455 or lower, depending on the NTA. There might be some further short-term selling after the new shares are issued with some shareholders taking a small profit. The shares should also fall about 7.5 cents after going ex div on May 17. Shareholders will receive a 5.25 cents dividend plus franking credits equal to 2.25 cents per share on May 30.

After the short-term profit takers have finished, the share price should steadily rise on the near certainty of a similar final dividend & expectations of future increases in dividends. With a profits reserve of 60.4 cents per share, WMI has another 5.5 years of similar dividends covered after this dividend. Following the issue of new shares with the current cap raising, that 5.5 years will be marginally reduced.

There is far more potential for larger profits to be made with micro-cap shares than with shares with a larger capitalization.