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Well I bought this 4 days ago using ony technical analysis and did the job.Out Too Soon said:Well the chart looks good for a quick trade, just don't check the fundamentals,I know I shouldn't have.
WMT - Western Metals
- Thread starter crackaton
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Out Too Soon
My real name is King Julian ;)
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Good luck UL I think you'll do well, especially since I'm just watching from the sidelines.
I'm just curious as to what technical analysis you did and what signalled you to buy it.
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Announcement re institutional placement and SPP (@ 0.21 ex-date 30 March)
Sydney - Tuesday - March 27: (RWE Australian Business News) -
Western Metals Ltd (ASX code: WMT) today announced a $25 million capital
raising.
"This capital raising is a significant step forward for Western
Metals as the company continues the implementation of an aggressive
exploration program," managing director Mr George Bauk said.
"All of our projects have comprehensive ground-based activities
planned and in progress, and we now have the funding in place to ensure
these activities maximise the probability of success.
"This funding also gives us the ability to accelerate successful
programs at the company's discretion," he said.
A placement of $17 million worth of shares at 24c each will be
made to clients of Tricom Equities Ltd.
This will see 70.8 million shares placed at 24c with attaching
1-for-1 listed options with a strike price of 35c, expiring April 30
2010.
The capital raising program is subject to shareholder approval,
to be sought at a general meeting to be held in early May.
Western Metals will also give shareholders registered on April 4
an opportunity to increase their holdings through a Shareholder Share
Purchase Plan (SSPP).
Under the SSPP, shareholders will each be able to purchase:
* 23,500 shares at 21c for $4935; or
* 14,000 shares at 21c for $2940.
The SSPP will raise up to $8 million through the issue of up to
38.1 million shares at 21c, taking the total amount raised to $25
million. The SSPP is not underwritten.
Western Metals Ltd (ASX code: WMT) today announced a $25 million capital
raising.
"This capital raising is a significant step forward for Western
Metals as the company continues the implementation of an aggressive
exploration program," managing director Mr George Bauk said.
"All of our projects have comprehensive ground-based activities
planned and in progress, and we now have the funding in place to ensure
these activities maximise the probability of success.
"This funding also gives us the ability to accelerate successful
programs at the company's discretion," he said.
A placement of $17 million worth of shares at 24c each will be
made to clients of Tricom Equities Ltd.
This will see 70.8 million shares placed at 24c with attaching
1-for-1 listed options with a strike price of 35c, expiring April 30
2010.
The capital raising program is subject to shareholder approval,
to be sought at a general meeting to be held in early May.
Western Metals will also give shareholders registered on April 4
an opportunity to increase their holdings through a Shareholder Share
Purchase Plan (SSPP).
Under the SSPP, shareholders will each be able to purchase:
* 23,500 shares at 21c for $4935; or
* 14,000 shares at 21c for $2940.
The SSPP will raise up to $8 million through the issue of up to
38.1 million shares at 21c, taking the total amount raised to $25
million. The SSPP is not underwritten.
According to the commsec graph it was def at $130 per share around jan 97
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Go read post #416. Next time, when you find a $130 stock, don't mention it, you might be fooled.
just 70 Million or so more shares out....once they get over 500 Million it seems there's no stopping there....let's try for a Billion....
no thanx, don't think I'll be buying WMT, but ACB certainly looks tempting in the comparison....largest land holding in Botswana, with the most advanced projects to boot....very prospective for U308....
no thanx, don't think I'll be buying WMT, but ACB certainly looks tempting in the comparison....largest land holding in Botswana, with the most advanced projects to boot....very prospective for U308....
Sean K
Moderator
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Siempre, how can WMT be compared to ACB? If it can not, please resist from diverting dicussion from the thread topic. Thanks, kennas.
kennas,
How can I compare WMT with ACB...?...
Very easily, since there is a lot to compare....they are both focused mainly on uranium....both were recent reco.s by none other than James Dines, "the all-knowing one"....
However, they diverge when it comes to share structure, where A-Cap looks absolutely frugal when compared with Western....I believe management means people, and the people at ACB, by all appearances I can judge by, care much more about the shareholder, and retaining value for the shareholders, than does WMT's people....
regards, siempre..
How can I compare WMT with ACB...?...
Very easily, since there is a lot to compare....they are both focused mainly on uranium....both were recent reco.s by none other than James Dines, "the all-knowing one"....
However, they diverge when it comes to share structure, where A-Cap looks absolutely frugal when compared with Western....I believe management means people, and the people at ACB, by all appearances I can judge by, care much more about the shareholder, and retaining value for the shareholders, than does WMT's people....
regards, siempre..
Sean K
Moderator
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Classic. Both want to mine uranium and were recommended by Jimmy. Siempre, please do not try to hijack threads by diverting attention to other loosely related stocks.
Sean K
Moderator
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The probability on break up from the pennant was squashed by that capital raising I feel. Shame. Looked a big chance on that volume. Still holding the line though. Still a chance even with the placement I think. The worlds going U insane atm...dropping under 22 cents will be untidy, IMO.
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:emp: Thanks for your analysis. I have purchased in 3 accounts to be eligible for SPP - in my name, my dads name and in my funds name.Everything changes as each announcement comes to hand Kennas. Thing that investors (or u gamblers) really like is that this company keeps coming up with exceptional news and there is plenty to come one would think.
I don't hold. However all these other announcements sure are making the time pass by quickly as investors await for drilling results in the coming months from Africa. If the results are any where near as good as the rock chip samples from last November 25c might seem cheap in 6 months time.
Those samples were like
.....- Status
