WRM 3.57% 54.0¢ white rock minerals limited

Im very sceptical about buying any shares in the company,...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 239 Posts.
    lightbulb Created with Sketch. 17
    Im very sceptical about buying any shares in the company, because it looks as if the directors are just fleecing the market with a constant flow of announcements that have been repeated 5 - 6 times over to keep their salaries paid and management costs high, all while destroying shareholder value with constant dilution to fund their operation that’s virtually gone nowhere for the last 2 years.

    Just the same crap like, “we have a significant vms deposit, it’s in the top quartile of globbally significant deposits”, yet they can only access it 4 - 5 months of the year.

    Or, “Mt Carrington will be a near-term cashflow producing asset that already has financing in place, we’re unique”. Yet they’ve owned the asset for the last 8 years.

    The current drilling campaign looks to like it will pump the share price because they will be targeting the best of what is referred to as “know deposits”.

    I have no doubt that if the results are what everyone thinks they will be, this will be sitting at 3 cents or higher best case scenario, worst case, 0.005 cents and under with no hope of raising any significant amounts of capital to fund further operations.
    Last edited by jackfisher1: 17/05/18
 
watchlist Created with Sketch. Add WRM (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.