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2.5¢ west peak iron limited

Ann: Quarterly Activities Report and Appendix 5B June 2015, page-4

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TheGladiator

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22/07/15

23:16

Post #: 15678096
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Originally posted by heraclitus ↑

I think the difference with WPI is that they actually disclose with clarity what the outstanding amounts are and who they're to. Unlike DUO, mgmt also have their own money invested in the shell. So I doubt we'll see escalating debts to mystery creditors, qtr on qtr.

The cash position is about what i would have expected. Just a touch lower maybe.

Opening balance of $27k + $998k - $550k - $150k admin.

They could have raised more funds in the last placement and treated themselves to more 1c shares, so one would hope they plan to raise the majority of acquisition funds at a higher price, causing less dilution. Otherwise, it makes no sense to have only raised enough to get through for another qtr, maybe two.

I guess we can basically call the ev the mc now, so $4M @ 2c. Might need a rest for a while, unless there's something lined-up already.

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The question herc is why only raise enough for two quarters when there is no news flow to increase the sp? The only reason it's gone up is because of management's previous performance with recently only being vtx. Not sure what to make of it to be honest.

WPI Price at posting: 2.0¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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