"is there any hope for this company" - Horace8, you have to be joking.
Low metal prices and currency hedge contracts are what have caused so much difficulty for WMT. Metal prices have lifted somewhat but the currency hedge contracts (WMT contracted to sell US$420m at 70 to 77 cents) are now insignificant and will be paid out in 6 months.
What this means is that WMT will receive an extra $125m of revenue and cashflow in the next 1-3 years which can be applied to debt reduction and resource development. Increasing metal prices will further improve cashflow and revenue.
In my opinion WMT's share price will explode to at least 20 cents within 12 months.
WMT
western metals limited
