I have noticed that Frogster is very supportive of WHL..... is he a plant ?
The truth is that WHL has commitments in the Seychelles and in vicP67LaBell that they cannot meet. Ophir will not be paying for everything and WHL will be spending money.
The last cashflow revealed $3.4 mill cash but of that $1.8 mill is restricted thus they have only $1.6 available cash. They also have fully drawn a $3.2 mill facility. The stupid and disastrous rights issue raised a measily $550K before costs. So they have around $2.1 million free cash left for the December quarter.
And guess what, they are forecasting to spend $2.8 million in the December quarter.
So do you still want to hold shares ???
QFY Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
