WAF 1.01% $1.50 west african resources limited

The SPP really was pointless & counter-productive In the context...

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  1. 1,407 Posts.
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    The SPP really was pointless & counter-productive

    In the context of the magnitude of the equity raise, it doesn’t contribute much to company coffers. It comes across as a tokenistic gesture to shareholders

    The practical effect is that it pushes SP down below 25c as retailers sell shares whenever it threatens to rise above that price point in the expectation of being able to buy back at a cheaper price

    This will continue until at least the end of Jan. The worst thing about this is that we’re unable to benefit from the current rally in gold. Other PM producers are surging while we languish. Goddamn
 
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