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14.5¢ western desert resources limited

Disaster, page-13

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Goldfish_One

133 Posts.

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11/09/14

14:20

Post #: 13959807
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Originally posted by enquirer ↑

Hello all,

We can't change the past and once again the banks have destroyed the shareholders. A quick look at the total stockpiles gives a notional value of some $30 million. That combined with the remaining "ore" and other assets should have high value. That said, the Administrators will charge a lot of the remaining and unless the company is relisted, the assets will be sold in one lot or the company will be sent to liquidation so that the liquidators will also make a lot of money from the skeleton.

As to being burnt by the experience, it is true that once bitten twice shy however those who rebuild their assets remain rational investors and put the disaster behind them. As big as the loss may be for some, it is a well known saying that "you can't win them all".

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Enquirer,

How did the banks destroy the shareholders? From what I can tell Macquarie saw that if the operation proceeded it would be a greater liability to them. IMO the board is responsible for this outcome as they have ultimate control. We may find out more if or when the 2013-14 Annual Report is released.

DYOR

WDR Price at posting: 14.5¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

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