WMT - Western Metals
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So it's first in best dressed? I thought they will allocate the shares by porpotion of applications received by 27th of Apr.
I've sent off my on tuesday and about to apply for $5K limit on my CC.From the paper work I read it seemed that it was first in best dressed, for one thing they kept harping on about having the right to close early.
However it was a little ambigius and either of the options put forward on the forum could still happen.
Myself though, I would just close early once I had reached the 25 mill.
Why wait around and delay things when you don't have too? And all that effort required for refunds etc?
Time alone will tell, but at least I will get some
However it was a little ambigius and either of the options put forward on the forum could still happen.
Myself though, I would just close early once I had reached the 25 mill.
Why wait around and delay things when you don't have too? And all that effort required for refunds etc?
Time alone will tell, but at least I will get some
Just because your CC got debited does not mean you have the shares. The offer closes 27th April and the allocation will be based on how many applications they have received not who was in first or last. They will pocket all the money for now and refund the difference if you dont receive the full allotment.
Halba this company is going to be huge with their worldwide projects and management. Their shareprice was only 8c at the start of the year and now 43c and yes "without a single drill hole" WMT is assembling one of the best teams for their exploration programs. Can't imagine what the share price will be when they do start to release the drill results. Best u trench samples ever seen in Tanzania up to 6% U308. Then there is the copper project in Peru near the biggest copper mine in South America jv with BHP in QLD falcon survey out soon. That is why people worldwide are seriously buying up big time before it takes off. Also recommended by James Dines at 18c he has never been wrong with an u play. Cheers.
Fact - good companies are never cheap.
On the balance of what information is available (assets, cash, management) -will this company be a succesful company in the future? The resounding answer from the market this year is "Yes'.
This being the case - you take a position in the company now. Not in 3 years time when you realise they are in fact going to be a successful company.
A speculative share but one which the market rates very highly as a speculative share.
Don't go against the grain of the market Halba and use Market Cap as a reason for saying it is overvalued. Three key words - assets, cash, management. The fourth? Momentum.
On the balance of what information is available (assets, cash, management) -will this company be a succesful company in the future? The resounding answer from the market this year is "Yes'.
This being the case - you take a position in the company now. Not in 3 years time when you realise they are in fact going to be a successful company.
A speculative share but one which the market rates very highly as a speculative share.
Don't go against the grain of the market Halba and use Market Cap as a reason for saying it is overvalued. Three key words - assets, cash, management. The fourth? Momentum.
Hey Jimminy charts speak for themselves WMT up around 500% this year BLR also up 400% GGY up 300% there all going places.
Great post and I agree wholly.
Halba has missed out on many opportunities because of his market cap approach eg. MRU (dirt), AGS (not even a JORC), EME (only so many pounds), PDN (is it worth $5bil).
But still he has been IMMENSLEY successful, so lets just all stick to our own methods.
There are several ways to skin a cat.
Yes Halba is very good especially at identify undervalued U company and potential U company. I am willing to listen to his analysis. Nobody can predict the market. I hope Halba can continue do well at identify good non-uranium company when the uranium madness fades away.
In about another 5-10 years.
Thanks nizar. No one can get everything. I am surprised MRU went from a $40m company to an $85m company without exploration results. Also WMT went from $100m mkt cap to about $250m mkt cap now post placement without drill results. I did not count on a 'bubble' being formed here...This is worrying - companies that haven't proved themselves without drills are going up many multiples.
I have one undervalued non uranium company: Coote Industrial (CXG), have a look. It is in the rail infrastructure servicing business. Its just recently listed and makes about $10m profit forecast for next year. Its market cap is about $120-130 m so it is selling for a p/e of around 12-13 versus most industrials of much higher. It is growing by acquisition. A similar comparable company is Bradken (BKN) also a industrial stock which I have a small amount of. Have a look =). Another nice niche business is office and storage supplier Dexion(DEX). They are also selling on about 12-13 p/e under Aspect huntley figures. It has a good management team Ex-Smorgon steel. They also grow by acquisition. It is still essential to have some non uranium companies.
I have one undervalued non uranium company: Coote Industrial (CXG), have a look. It is in the rail infrastructure servicing business. Its just recently listed and makes about $10m profit forecast for next year. Its market cap is about $120-130 m so it is selling for a p/e of around 12-13 versus most industrials of much higher. It is growing by acquisition. A similar comparable company is Bradken (BKN) also a industrial stock which I have a small amount of. Have a look =). Another nice niche business is office and storage supplier Dexion(DEX). They are also selling on about 12-13 p/e under Aspect huntley figures. It has a good management team Ex-Smorgon steel. They also grow by acquisition. It is still essential to have some non uranium companies.
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Question
With a fully funded and highly prospective drilling campaign about to begin, why would WMT raise capital before the drill results?
Answers
a. Because the share price was so high
b. Because there was so much hype - punters are borrowing money on credit cards to get set
c. The very smart management team couldn't believe the bankers when they offered them so much money at such an early stage
d. All of the above
With a fully funded and highly prospective drilling campaign about to begin, why would WMT raise capital before the drill results?
Answers
a. Because the share price was so high
b. Because there was so much hype - punters are borrowing money on credit cards to get set
c. The very smart management team couldn't believe the bankers when they offered them so much money at such an early stage
d. All of the above
Im not sure what you are refering to in regards to punters borrowing on CC to get set.
To clarify, I have only paid via CC as it is the easiest and cheapest way to pay. Im sure that many others that have posted here are in the same boat as myself. Heaven forbid if people are resorting to maxing out CC to cover the cost of share purchases. Especially in such a bull market.
Halba thanks for those tips i will have a look.
But pe of 12-13 doesnt really interest me.
Have a look at AED (oil play), earnings of $2.20 next year, trading at pe of 2.2.
Or FMG (iron ore), earnings of $10/share next year, currently trading at pe of 2.3
According to their investor presentation they have:
Tanzania:
Geology: Helicopter based mapping & Ground based regional reconnaissance in Q2
Geophysics: Heliborne radiometric survey in Q2
Drilling: 4,000M planned at Mtonya project in Q2
Glade Uranium:
Geology: Detailed mapping Q2
Geophysics: Ground radiometrics along delores river Q2
Geochemistry: Pathfinder soil survey and radon detection Q2
West Georgetown:
Geophysics: Complete Falcon processing, interpretation Q2
Lukkacha Peru:
Geology: Detailed mapping of porphyry due in Q2
Geochemistry: Stream sediment and soil sampling and assay in Q2
Geophysics: Induced polarisation (IP) on geochem results in Q2
Zeehan Tin (Tassie)
Geology: Geological review Q2
Engineering / Metallurgy: Review mining and processing options Q2
So it looks like May & June should have quite a lot of announcements for WMT holders. Hopefully they will all be positive. Given the quality of management and projects I would guess that this one will be a good one to hold for some time to come.
I topped up a bit today - anyone else do the same? If the price settles then I will hopefully grab a few more as this does look promising imo but as always DYOR.
Tanzania:
Geology: Helicopter based mapping & Ground based regional reconnaissance in Q2
Geophysics: Heliborne radiometric survey in Q2
Drilling: 4,000M planned at Mtonya project in Q2
Glade Uranium:
Geology: Detailed mapping Q2
Geophysics: Ground radiometrics along delores river Q2
Geochemistry: Pathfinder soil survey and radon detection Q2
West Georgetown:
Geophysics: Complete Falcon processing, interpretation Q2
Lukkacha Peru:
Geology: Detailed mapping of porphyry due in Q2
Geochemistry: Stream sediment and soil sampling and assay in Q2
Geophysics: Induced polarisation (IP) on geochem results in Q2
Zeehan Tin (Tassie)
Geology: Geological review Q2
Engineering / Metallurgy: Review mining and processing options Q2
So it looks like May & June should have quite a lot of announcements for WMT holders. Hopefully they will all be positive. Given the quality of management and projects I would guess that this one will be a good one to hold for some time to come.
I topped up a bit today - anyone else do the same? If the price settles then I will hopefully grab a few more as this does look promising imo but as always DYOR.
Sean K
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I recently sold at 43 cents. Looks like it may have broken some short term support at 40, and the next real support is at 28 ish, but there might be a little at 35, if this current position is lost. Indicators are saying this is going down for the minute, and when they line up like that, I don't buy. If your a medium to long term holder this means nothing though. General trend is still up, until it breaks that upward support line. You're right about their projects, they all look interesting, especially Tanzania.
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