Laid to rest

Well I formally deleted "WCL" from my Watch List !

I gathered my dog, goldfish and mobile phone around me and the PC, and pressed "Delete". Gone. Done.
Got no sympathy from the goldfish.

First bought WCL in float in 2007 according to my records.

Such a pity that Landbridge will now get the benefit of the GSA - the GSA we all were awaiting for so long.

Whilst we will all move on, this saga has taught me a few more general lessons:
- smaller shareholders are not so dumb after all - it is my general view that we often have a much better idea as to what is going on in the eyes of investors than the boards of some public companies
- boards of public companies certainly do get it wrong
- boards of public companies MUST get a better understanding of what their bigger shareholders want, and what those bigger shareholders understand of the business and potential of their investment.
- in the defence of a company under a takeover, there is no substitute other than presenting independent cold, hard facts upon which shareholders and the market can judge the value of a company - ie an IER. Trumpeting the commissioning of a detailed Validation Report, then not releasing an independent summary of that Report to shareholders and the market, is an example of what not to do. Why was it not released? Was it a factor for our big shareholders selling into the t/o?
- In my own personal opinion, I have no doubt that Landbridge would not have achieved control of WCL so readily, had WCL provided shareholders with a formal IER ! I suspect that our bigger shareholders sold because they simply had no independent valuation upon which to refer. Brokers reports did not suffice. That's just my opinion from afar.

What I did takeaway was that there is value in HC shareholders getting together in certain situations - because boards and management do listen to big blocks of shareholders.

cheers