WFE 0.00% 2.4¢ winmar resources limited

Whate Really is goig ON, page-94

  1. 6,782 Posts.
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    The only holders that were talking up moving to the NSX were in some delusional mindset that the ASX are/were unfairly treating WFE with demands prior to being re-listed.
    The company nor its chairman have not given and indication of moving exchanges either by an official announcement or by Brewer doing what he usually does and posting on "Twitter", in fact he has repeatedly said that the ASX is the preferred exchange and the were working through the re-listing process.

    Because WFE are currently in suspension, the process to list on the NSX will not be via the "fast track" route (as some of the said holders were trying to convince the rest of the forum) and if you include they will have to pay the normal fee's versus a discounted fee (the discount would of applied if they were currently trading). I ran a rough calculation on the cost of listing on the NSX (with WFE in suspension) and it was circa $150,000.
    If you take a look at the last released quarterly financial report, WFE current cash balance is low, (they do have money tied up in trust for the DRC JV)
    I also do not think (my opinion) that if WFE can not produce the required documents to be re-listed on the ASX then I would think that they would also have the same issues trying to get onto the NSX, bare in mind also that both the ASX and NSX are still governed by the Corporations Act.
    To which the BOD of WFE are currently in breach of with the financial report for the March Quarter not being released.

    Was it doing so well 12 months ago?
    What did WFE actually have 12 months ago if you remove all the hype that pumped up the SP?
    As a shareholder, I would be doing what the same said holders continually espouse and call the company/Brewer and ask them why the financials haven't been released, and why the don't adhere to their own Corporate Governance.

    I applaud the ASX for looking after the shareholders interest by enforcing the listing rules.

    cheers



    Last edited by fooca: 16/06/19
 
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