WAF has not raised any fund with retail shareholder since December 2015. It was a penny stock then. So I do not think the board own retail holder anything.
They borrowed to drill. The area was drilled many time before that., so it was luck that it hits. Before it hits M1, they hits M3 and though that was good, but M1 was better.
Even the share price is not as high as it should be, I do not blame the board. They communicated well to shareholder their plan.
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- Ann: Capital Raising Presentation December 2018
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