@Mutley8 ..........."
Before anyone can buy or sell the stock the prospectus should be released- The prospectus is real factual details not retail opinion or non holder BS- Without the burden of massive capex debt from day one boy oh boy am I expecting the numbers to stack up seriously favourable."
WFE do not have the cash to get the independent Reports needed for a prospectus, so how do they pay for this??
Do you really expect some offtake funder to pay for all the research into whether the operation is viable to start with??
@Mutley8 ......"Re
member the massive advantage of high grade ore!!"
WFE don't have any ore of any description!! They have some contracts with some companies that an internet search shows NO information about.
These companies need to be vetted by KUMI before any ore can be purchased to make sure it is 'clean and responsibly mined', again something that will cost money that the company doesn't have!!
Do you also expect the offtake partner to pay for this work??
Take this to the conclusion to look at how absurd your commentary above is. If you expect an offtake partner to give money to a company with no assets, and no experience in cobalt processing/production to get the prospectus written, the contracted ore companies certified, then pay for the refurbishment of the plant as well, why wouldn't they just bypass the middleman (the one with no experience) and do it all themselves??
At some point the agreement with AHIC will end because WFE have not been able to complete the deal, in other words a contract finalization date, when WFE would in all likelyhood lose the deposit IMHO. (so far NO information about this from WFE).
Having a re-read of the "update" from 4 weeks ago, there was NOTHING about a prospectus at all...
"
The Company will, upon finalisation of these discussions, aim to provide a comprehensive update to the market in respect of both its proposed acquisitions of a 50% interest in the Luapula Processing Facility (Proposed Acquisition) and the trading of the Company’s securities."
https://www.asx.com.au/asxpdf/20190606/pdf/445nm1cpt53z2q.pdfNo mention of anyone engaged to do any of the work required for a prospectus,
No mention of how KUMI were going on investigating the ore supply contracts, or even any info on whether this has started.
No mention of any Independent Experts engaged to start looking at the viability of the operation.
The company has not given out any information of anything actually happening other than 'talks' or 'advanced discussions', so how you can take that to mean a near term prospectus and throw in the all alluring rumour of a large investor just waiting to buy on open, are just more huge RED FLAGS to anyone paying attention.
