1. Has a Prospectus been lodged with the ASX, and if so when and has the ASX responded to the Prospectus? If the ASX has responded what additional work is required (no specifications required but a broad narrative) and how long until it is relodged?
2. If a Prospectus has not been lodged when does WFE intend to lodge the Prospectus?
3. Turning to the JV arrangement, does the Agreement have any sunset clauses that the deal is 'off' if certain matters are not dealt with by a due date? If the answer is yes, how long does WFE have left to get its house in order (months/years)? (For others, this is not market sensitive btw because been in suspension you can't buy or sell the stock regardless of how JB answers this).
4.Turning to the 'binding' purchase Agreements with suppliers to its proposed facility, do these have sunset clauses where the seller can walk away from the Agreement at a due date? If the answer is yes, how long does WFE to get its house in order? (For others, this is not market sensitive because been in suspension you can't buy or sell the stock).
5. In regard to 4, has WFE commenced discussions for Offtake Agreements with prospective end customers? Has WFE commenced discussions with financiers for the acquisition itself and in particular capital expansions?
6. Noting the current capacity of the plant of 250,000 tpa, and what we understand to be binding agreements for the purchase of over 600,000 tonnes of ore per year, will the Prospectus provide a framework and capital cost structure for the expansion of the plant? Attaining Offtake Agreements are critical to ramp up and funding, and will drive the Prospectus or documents required by the ASX for relisting and SHs to vote on. Infact the strategy of Offtakes and what I am interpreting debt to be as equity for Offtake Agreements ensures that the plant can be scaled up to take the 52,000 tonnes of ore signed with third parties.""""""""
7. Turning to the Feb 2019 Ann, where an independent valuer provided an NPV estimate within that Ann, can WFE explain the purpose of that valuation and the assumptions underpinning that valuation given the model inputs were provided by WFE? Did the data provided to the independent valuer by WFE provide a short term outlook using the existing capacity of the plant or did it include the possible expansion scenarios?. Furthermore, what was the length of time of the raw data financial inputs (2 years, 5 years, 15 years) which the Independent Expert used for calculating the NPV?
8. Does WFE intend dual listing, first relisting on the ASX, before moving for a LSE listing? Or does WFE intend delisting from the ASX and straight to the LSE? If the latter, what documentation does WFE have to provide and what is the length of time in regard to possible listing on the LSE?
9. What is the timeframe for shareholder approvals underpinning the purchase at 3 at a subsequent shareholder meeting and when will that take place? If seeking to delist from the ASX and list on the LSE what shareholder approvals are required and when will that meeting of shareholders be called?
10. In terms of the Prospectus, has WFE engaged Independent Experts to provide valuation reports?
11. Given the length of suspension, and the fact a quarterly has not been lodged, can you confirm that WFE is currently trading as an ongoing concern (meaning it has the cashflow to pay its bills) for the remainder of this year?
WFE Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
