Have I got the right end of the stick? This thread seams to tell me WNI is insolvent. Mozart, Have you not read the June report? It gave me a lot of hope that WN has been still working on development. And together with reading between the lines of "China fears unfounded because it's a 'dud investor'", I picked up that WN may be in discussion with QRN and Atlas.
From Andrew Burrell's article:- [Atlas Iron managing director Ken Brinsden says the Pilbara miner is focusing on building its relationships with China in the expectation that it will need Beijing's money to help fund its planned expansion. He acknowledges that China's high-profile investments in the Australian mining sector have been unsuccessful, but he insists China is "the only growth game in town" for iron ore and will continue to be Atlas's most important customer. "We are finding the Chinese are genuinely interested in being involved in our business," he says.]
And now this? If insolvency is the new problem, I fear that China is really trying to get Aussie ore on the cheap. Our future is now in the hands of Hongkong & Shanghai Banking. (Are they a branch of HSBC?) and OceanLine Holdings. It's good to see some of you has come over. We should stick together.
WNI Price at posting:
5.0¢ Sentiment: None Disclosure: Held
