Come on guys, let’s settle it down. The company has obviously...

Come on guys, let’s settle it down.

The company has obviously been very busy vetting funding offers. This is an enviable position to be in as many of WAF’s peer companies are sitting on projects at similar levels of technical appraisal and report that they are seeking bank funding but have not announced the receipt of any proposals.

The company just announced having got strong interest from 14 Tier one lenders, that is a stunning amount of interest in the project considering the current destroyed sentiment for these types of investments.

Maybe we can give the company so credit here. Sending, receiving and vetting the 14 offers would involve significant effort on the part of the company/consultants. What the company does now in choosing the funder/s and funding model will have far more baring to the mine’s and company’s future than a few more drill holes.

In anycase as explained in a previous post

https://hotcopper.com.au/threads/retail-block-list.4372850/page-39?post_id=35295416#.W6RZlho_WhA

we are just coming out of the wet season in BF, but the rainfall in that country is very very weird as the couple of dry months between Sept and Oct give way to the wettest month of the year that can produce almost 1 metre of rainfall in Nov and then back to bone dry conditions in Dec. Follow the link in the above post and you can see for yourselves.

Once the drills start spinning in earnest again we will (in all probability) be adding more value to the project through the promised 40,000m of drilling.

One thing a good mananger does during times of bad sentiment is to spend the company’s money prudently. Remember the last raising was done at 32cents for a significant cash injection so investors big and small are currently a little underwater and are expecting to make money from here. We are all in the same boat and the way we move forward is to do exactly what we are doing.

No complaints from me. Esh