As a post-mortem exercise people should read through the entirety of this old thread entitled
“silence from the downrampers”
https://hotcopper.com.au/threads/si...3512532/page-45?post_id=25550406#.Wykkz6Y_WhA
and reconsider who should really get the thumbs up. Some of the “uprampers” to their credit conducted a mature and balanced debate but it should be recognised that the so called “downrampers” on Hot Copper have to endure a lot of angst on these forums for trying to introduce balance to these threads and for trying to highlight real risks for other investors.
It was pretty clear to all here at the time of the 4.8cent raising that the company was in trouble but wishful thinking prevailed over cold hard rational thinking IMO. The “sophisticated” investor from NZ never saw his shareholding from that raising in the green, poor sod, the price just slide out from under him from day one and it’s been downhill pretty much all the way, give or take a few glimmers of hope.
I started another thread comparing WPG to OGX as both seemed to be in similar boats to me, developing high grade UG mines without properly defined/sufficient reserves. OGX is still doing better than WPG trading at 7.2 cents but it won’t be long IMO before it to slides down to join WPG on the verge of restructuring or VA. Not that the self professed experts on the OGX threads will admit it. I gave up trying to warn anyone that would listen over there, you can only do so much before you feel like you are talking to yourself. Esh