IMO that whilst there was nothing wrong with the announcement and what they have acquired has got some very good prospects it doesnt help to answer the question that must be surely on our minds - when does it plan to move to the status of producer-company as a hold? Simply acquiring projects with potential is important but not when other projects could be neglected. Plus the project they've acquired will realistically take 2-3 years to get to production .... especially in this climate when such kind of resources to bring to production are extremely tight. Anyway, i guess @ the end of the day it depends on one's investment horizon.
Bottom line - i think its an OK only announcement though I'll still continue to hold .... in the hope we get something good on the Tanzanian front or even Glades.
CB
WMT
western metals limited
