WMT - Western Metals

[UMike]

:sheep: :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.

Is there a minimum holding amount to be eligible?

 

[Mousie]

Siempre you probably need more analysis of the company's projects itself, whether good or bad. that is fine.

Oh well, looks like this siempre chap ain't bothering to explain himself

 

[siempre33]

Jimminy said...
"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."

I think WMT has alot of potential or I wouldn't consider buying, but the co. has certainly capped the NEAR future with this latest highly dilutive financing, with part of it @ .21....it will be a day traders paradise even more-so than presently, and with over 500 million shares out there will be even less leverage* than before....

as far as the rock chip samples are concerned, yes, this looks great, but until drilling confirms our suspicions, it's only a hope....and just watch the profit-takers sell into any newz, just as has been happening....it will be three steps forward and two steps back....

bottom line is...patience required if you consider yourself a long-term holder...

*a leveraged stock is one with few shares outstanding, thus it can move a large percentage on good newz.....of course, leverage is a two-edged sword,
meaning it cuts both wayz....

 

[Halba]

UMike: Is there a minimum holding amount to be eligible?

Umike.

Not that I am aware of. You need to hold at least over $500 worth though.

 

[ezyTrader]

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.

So, is the SSPP an assured possible purchase for all shareholders?
I'm thinking of offloading some of my current holdings to take on the SSPP... Does anyone have the same take on this? 20% discount?

And can any1 explain what the 1-for-1 listed option mean? Do I read it that it's only for the Tricom clients?

 

[mildew79]

All this talk about Rampers. I have just joined I think if we can stick to the charts and the fundementals we can all benefit. I have attached my look on this stock and my plan always allows me sell half my portion at a profit of 20% or above if it still has the potentional to go up and keep the balance for my Target. I have bought 500K worth of this stock in and out from 2.5 cents and the last lot at 11 cents. Sold half at 14.5 cents and keeping the cream for my 16.5 cent profit target as attached. This is using the old Darvas Box theory. If it reaches that target I might only sell half again of my holding for the next run. Stick to that sort of plan rather than holding on to HOPE and you can make good money. However I don;t do that all the time only stock like this that have good support,, on balance volume and fundementals.
Kind re

a fellow pro trader hey... hello ang! only just saw this. not bad EOD scanning software protrader you are the first ive come accross here. maybe i know u??? what your pro trader username?? addin you to my watchlist

 

[Halba]

So, is the SSPP an assured possible purchase for all shareholders?

Not 100% assured. Thats why I wouldn't sell existing shares. Its worth a punt to get some.

And can any1 explain what the 1-for-1 listed option mean? Do I read it that it's only for the Tricom clients?

Yes that is correct. As it is 35c strike, it gives the company an incentive to increase the share price.

 

[mildew79]

So, is the SSPP an assured possible purchase for all shareholders?
I'm thinking of offloading some of my current holdings to take on the SSPP... Does anyone have the same take on this? 20% discount?

And can any1 explain what the 1-for-1 listed option mean? Do I read it that it's only for the Tricom clients?

seems as though its not assured to me. up to 38.1 milion shares means this is the maximum to be issued to shareholders. first in best dressed???

yes options for tricom only

 

[Sean K]

WMT chart update.

Failed the break due to ann and consolidating sideways. Mixed signals from the indicators. MACD lagging momentum, down. Bad. Stochastics hit oversold and turned. Good. Volume down. Bad. Holding above 25 when spp at 21. Good.

Through 27 is still a breakout IMO.

(holding - expecting break up, but parachute ready)

 

[clowboy]

Well I got the details of SSPP in mail today and according to it you are entitled to participate if you are on the register as of 5pm april 4th (tommorow arvo). Does't that mean that you would have had to hold the shares as of two days ago? Ie three days to settlement?

I was expecting the SP to fall back towards 21cps when it went " ex entitlement" If it has already gone ex-entit then it stands to reason that one should just sell 5k worth of stock and buy back in at 21cps? The only down side I can see is if the price falls away from 21cps in the time it takes for the shares to be issued I will be powerless to do anything.

Am I right in my thinking? or does it in fact go ex-entitlement 2morrow?

Thanx

 

[Bomba]

Isnt there the chance if you sell 5k worth of your stock that you wont get it all back at 21c if the offer is oversubscribed and applications are scaled back?

Im holding and not bothering with the offer.

 

[zed327]

I'm getting as much as i can.

 

[Jus]

Isnt there the chance if you sell 5k worth of your stock that you wont get it all back at 21c if the offer is oversubscribed and applications are scaled back?

Im holding and not bothering with the offer.

i'm with you, holding and not bothering by the SPP.

 

[clowboy]

Isnt there the chance if you sell 5k worth of your stock that you wont get it all back at 21c if the offer is oversubscribed and applications are scaled back?

Im holding and not bothering with the offer.

Yes,

Guess thats another risk to add to the eqation

 

[clowboy]

Well the way this is going I think the placement will be closed on day one.

It's a 50% gain on your money for nothing?

Seriously thinking about applying for the 5k parcel and holding my current holdings, just don't like the lack of control.

 

[robandcoll]

zed327
I am with you. Get as much, either through the SSPP or buy as much as possible

 

[giss]

The market likes announcement!

10/04/2007 Strengthens Global Team with Executive Appointments

Looks like wmt is taking another step up.

 

[Sean K]

(holding)

 

[mickqld]

I would have thought the capital raising and SSPP offer would have held this one back for a while but it seems to be having the opposite effect. Am just blown away by this stock it is in a frenzy at the moment. Got in at 8cent average and wont be selling this one for at least another 12 months. Might just be able to retire on this one alone I think.

Holding TLS,ERG,WMT,BLR,PEN,MKY,RMG,SBL

 

[ezyTrader]

Well I got the details of SSPP in mail today and according to it you are entitled to participate if you are on the register as of 5pm april 4th (tommorow arvo). Does't that mean that you would have had to hold the shares as of two days ago? Ie three days to settlement?

I received the mail about the company report and a bit of elaboration on the SSPP. Is there a separate SSPP form to fill in? Anybody else got the mail on that?