Traded WDR a couple of times a few years ago and only been back in for a month.
During analysis...seeing that Bruce M stumped up to buy a big stake at 50c I thought 21c was fair value...Might I suggest that Bruce would not have just thrown money at this...he would have sought advice. Why would he buy at 50c when he could buy at a significantly lower price just 6 months later and also Macquarie were basing their SP numbers in January on Iron Ore at US$80 -$90/t.
Sure there was a delay in the ramp up to 250,000t and that was always a potential risk...but that was behind them...all the other stuff I have already posted about in this thread so won't bother repeating it...something just doesn't add up...we'll all know in a couple of days.
But as always we don't know what we don't know. Unless you have a seat at the Board Table you are making decisions by what is in the public domain.
I might take a double digit hit...however I'm respectful of the fact that their are other shareholders that bought at much higher prices who are likely to be hurting a lot more than me...this sort of thing can effect peoples lives so IMO a bit of humility is warranted.
WDR Price at posting:
14.5¢ Sentiment: None Disclosure: Held
