Difficult times for WEC as this $2 million loan shows that the...

Difficult times for WEC as this $2 million loan shows that the cash position has just dwindled as directors and shareholders looked on. Puts off the need for a discounted placing in the short term. The 0.8% interest per month isn't cheap so the company's Chairman and Managing Director, Messrs Duncan and Flannery, are not giving it free of interest - would have been kind in the circumstances if they had. Still, it gives that much needed time for the Mountainside sale completion.

How much White receive from the Mountainside venture is a complete guess for an outsider. Over 160 holes (wells) have been drilled though there are no results shown for these. Unless I've missed it. The company has appeared quite confident about the interest from 5 bidders.
No guidance as to whether bidders are just going for one tenement or the whole lot.

There is no doubting the ability and experience of the board of directors - especially their wonderful performance with Felix Resources Limited. Maybe and hopefully they will turn White Energy round in the same fashion.

Even if the directors efforts in South Africa are stalled due to no coal fines presently being delivered. They can be praised for sticking to their task in Australian courts and now Arbitration in Singapore versus Bayan of Indonesia over the Tabang venture that Bayan brought to an untimely close.

At 3.3c a share the market cap is just $10.8million. Hopefully bids for Mountainside will exceed that and if Bayan's appeal over Tabang in February 2018 is not successful, considerably more.