goodaye Tui, yep, I am holding WCL as an investment not a trading stock. These guys have a L/T plan. the Mitsui tie-up is part of that plan. as I mentioned in several earlier posts, AK refers to their L/T plans with the objective to generate maintainable earnings, with which to return to s/h.
Without a doubt there will be further big releases over the next 9 months or so, as WCL works thru its drilling program and LNG plans.
The Dawson acq'n wil be the framework upon which these plans are based.
Look for a more comprehensive association with Mitsui, is my bet.
I will be taking up my full entitlement, plus oversubscriptions - will sell some other slower moving stocks and that will clean me out, but this stock has growth written all over it.
Whilst I know SOul Patts Group is really conservative, I gladens my heart that they are prepared to underwrite the entire issue (I think the u/w is joint and several), so having watched Soul Patts make buckets of money on New Hope and Arrow, I feel very, very comfortable buying WCL shares at 45c when Soul Patts (thru New Hope) was prepared to pay 55c and u/w.
cheers
WCL Price at posting:
50.7¢ Sentiment: ST Buy Disclosure: Held
