mickqld said:Can someone explain to me why under WMT options there are 3 lots of 50000 options expiring on 30th Nov 2007 at $5, $7 and $9. Isnt that a little ambitious to think that the share price will be up around those figures in 11 months????? Why would anyone bother to have options at that price.
Obviously they are never going to be exercised unless WMT is sitting on the biggest deposits of U in the history of mining. I understand the basics of how options work but this seems quite pointless to me.
mickqld said:Can someone explain to me why under WMT options there are 3 lots of 50000 options expiring on 30th Nov 2007 at $5, $7 and $9. Isnt that a little ambitious to think that the share price will be up around those figures in 11 months????? Why would anyone bother to have options at that price.
Obviously they are never going to be exercised unless WMT is sitting on the biggest deposits of U in the history of mining. I understand the basics of how options work but this seems quite pointless to me.
mickqld said:Can someone explain to me why under WMT options there are 3 lots of 50000 options expiring on 30th Nov 2007 at $5, $7 and $9. Isnt that a little ambitious to think that the share price will be up around those figures in 11 months????? Why would anyone bother to have options at that price.
Obviously they are never going to be exercised unless WMT is sitting on the biggest deposits of U in the history of mining. I understand the basics of how options work but this seems quite pointless to me.
Very nice homework Im impresseddubiousinfo said:In 2003 WMT were operating two mines, but base metal prices were very low and it got into trouble due to its level of debt. The company was suspended and placed in voluntary administration. Prior to being placed in administration the Managing Director was granted 3 lots of options, 5 mil @ 5c, 5 mil @ 7c and 5 mil @ 9c.
Throughout 2003 and part of 2004, the administrator sold off the mines and other assets and the funds were distributed to the creditors. They actually had some good tenements, 50% of Intec's Hellyer, MRE's Murrin Murrin.
Then in 2005 a capital raising was carried out. A total of 250 mil shares and 30 mil 1c opies were issued to raise $1.6 mil. New Directors were appointed and the company was released from administration and readmitted to official quotation on the ASX.
Prior to the capital raising, the company had around 1.5 bil shares on issue, so as part of the capital raising, there was a share consolidation of the the old existing shares on the basis of 100 to 1 to reduce this to 15 mil existing shares. So if someone was holding 100,000 shares from prior to the raising, they now had only 1,000 shares. In addition the old Managing Director's options were consolidated from 5 mil @ 5c, 5 mil @ 7c and 5 mil @ 9c to 50k @ $5.00, 50k @ $7.00 and 50k @ $9.00 respectively.
The $2.17 opies were old 2.17c opies held by note holders that were also consolidated at the time of the capital raising.
JoshyJ said:Well not the biggest deposit of U in the history of mining, but it has potential to be pretty big.
Atomic5 said:13000km is is a lot of drilling territory too. What I do not understand is why Deep Yellow DYL sold the Tanzanian tenements to URA (LSE:AIM), how WMT got on board, and why tenements next to the Henri anomaly were still available late September 2006 and able to be purchased by Sabre SBR (a micro cap with little cash flow).
I often wonder if Sabre SBR which is 80% owned by it's own Top 20 shareholders is not sitting on 300km² of 6% grade U, and if WMT is not doing all the drilling that will determine if it is in the end.
WMT drilling activity has seen SBRs shareprice go from 7c to 29cents since November, while SBR has done no drilling.
dubiousinfo said:In 2003 WMT were operating two mines, but base metal prices were very low and it got into trouble due to its level of debt. The company was suspended and placed in voluntary administration. Prior to being placed in administration the Managing Director was granted 3 lots of options, 5 mil @ 5c, 5 mil @ 7c and 5 mil @ 9c.
Throughout 2003 and part of 2004, the administrator sold off the mines and other assets and the funds were distributed to the creditors. They actually had some good tenements, 50% of Intec's Hellyer, MRE's Murrin Murrin.
Then in 2005 a capital raising was carried out. A total of 250 mil shares and 30 mil 1c opies were issued to raise $1.6 mil. New Directors were appointed and the company was released from administration and readmitted to official quotation on the ASX.
Prior to the capital raising, the company had around 1.5 bil shares on issue, so as part of the capital raising, there was a share consolidation of the the old existing shares on the basis of 100 to 1 to reduce this to 15 mil existing shares. So if someone was holding 100,000 shares from prior to the raising, they now had only 1,000 shares. In addition the old Managing Director's options were consolidated from 5 mil @ 5c, 5 mil @ 7c and 5 mil @ 9c to 50k @ $5.00, 50k @ $7.00 and 50k @ $9.00 respectively.
The $2.17 opies were old 2.17c opies held by note holders that were also consolidated at the time of the capital raising.
jemma said:By the way, I expect a strong move this week from WMT, buy signals have been triggered.
Stop_the_clock said:Can you discuss these buy signals, thanks
dubiousinfo said:In 2003 WMT were operating two mines, but base metal prices were very low and it got into trouble due to its level of debt. The company was suspended and placed in voluntary administration. Prior to being placed in administration the Managing Director was granted 3 lots of options, 5 mil @ 5c, 5 mil @ 7c and 5 mil @ 9c.
Throughout 2003 and part of 2004, the administrator sold off the mines and other assets and the funds were distributed to the creditors. They actually had some good tenements, 50% of Intec's Hellyer, MRE's Murrin Murrin.
Then in 2005 a capital raising was carried out. A total of 250 mil shares and 30 mil 1c opies were issued to raise $1.6 mil. New Directors were appointed and the company was released from administration and readmitted to official quotation on the ASX.
Prior to the capital raising, the company had around 1.5 bil shares on issue, so as part of the capital raising, there was a share consolidation of the the old existing shares on the basis of 100 to 1 to reduce this to 15 mil existing shares. So if someone was holding 100,000 shares from prior to the raising, they now had only 1,000 shares. In addition the old Managing Director's options were consolidated from 5 mil @ 5c, 5 mil @ 7c and 5 mil @ 9c to 50k @ $5.00, 50k @ $7.00 and 50k @ $9.00 respectively.
The $2.17 opies were old 2.17c opies held by note holders that were also consolidated at the time of the capital raising.
mickqld said:Thanks heaps Dubious great research there and you too Jemma. I have been through that reconstruction having had 28000 shares of WMT back in 2002 which ended up 280 shares. I lost only $6000 on that but have more than made that back over the last few months now, so happily ,what goes around comes around with this stock anyway.
michael_selway said:Do you know why it went up to $130.00 in 1997?
thx
MS
WMT,"31 Jul 1997",129.9,132,129.9,132,3107
WMT,"01 Aug 1997",129.1,130,128,130,16906
WMT,"04 Aug 1997",130,130,126,130,1186
WMT,"05 Aug 1997",130,132,128,130,14064
WMT,"06 Aug 1997",132,133,130,130,3411
WMT,"07 Aug 1997",130,130,128,130,2016
WMT,"08 Aug 1997",130,132,130,132,2800
WMT,"11 Aug 1997",132.8,133,126,127,13634
WMT,"12 Aug 1997",127.2,130,127,128,2135
WMT,"13 Aug 1997",126.2,127,126,127,1923
yes very nice rise and im glad i didnt wait till monday to re-enterFluffy said:15cents today, not bad eh Snakey? lol
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