cash backing, page-4

MJM23, I remember Felix Resources (old name Auiron Energy) were priced at a market cap of $10 million with $17 million in the bank and no debt, in 2003. They were then taken over by the private company RMM (reverse takeover). [we know the story that they peaked at $4.3 billion market cap, collapsed to $1 billion, and taken out by Yanzhou at $3.4 billion]

What happened to Felix could happen to White Energy in time though the large director share holdings could be as complicated as China's Yanzhou takeover.

Cash in a company means little if they are making Annual losses. WEC's position is difficult and the market feels the directors have no plan B.