WSA dont have $75m debt they have a $75m credit facility set up which just means that they can go into debt if needed.
I do agree that they need to get a higher grade deposit which is probably why they spent so much on exploration and construction this quarter. I'm not too concerned given their cash in bank should be sufficient for them to finish the works and start mining another resource.
If you believe the management that they will go for higher grade reserves at flying fox next quarter thats also a plus.
Overall there's a chance for a similar performance next quarter, but also a chance that it could be a lot better. I dont see how it could get worse though (unless the price of nickel collapses)
WSA Price at posting:
$2.46 Sentiment: Hold Disclosure: Held
