The writing was on the wall from the day the new CEO came in and...

The writing was on the wall from the day the new CEO came in and started waffling about all sorts of plans other than the supposed core project of WEC. I flagged it then as a huge worry, but unfortunately didn't sell out due to the already large fall in the share price.

(Lesson. It can always fall further.)

I now recognise this as yet another Aussie small cap dedicated to mining operations not declared in any reports, the mining of shareholder pockets. Such companies are distinguished by name changes, personnel changes, strategic direction changes, frequent capital raisings, generous amounts of 'forward looking statements', cash burn, unprofitability and often a lack of any revenue at all apart from shareholder funds in the forseeable future.

The capital raising, if it is done at 0.02 and that becomes the new share price as is usually the case, will have destroyed more than 9/10ths of the company's share price in adjusted terms from when it was first known about by insiders. (Look at the share price chart before the announcement to see when that was.)

Now for the good news. Dodgy stocks like this exist for two reasons, not just to mine the pockets of shareholders. The other reason is to occasionally run a 'pump and dump' scam, as has already happened once in the past couple of years. At some point it is quite likely that there will be another big run in the share price based on some marvellous, exciting development about to happen. It will triple or quadruple and day traders will be all over it and this forum will have some new, previously unknown champion of the company posting numerous times a day about how it is going to the moon. At that point you may almost get your money back and provided you don't fall for the hype when the excitement is at its peak you can gracefully exit stage left.