gents,well we got what we wanted.New management and new board...

gents,

well we got what we wanted.New management and new board with a bit of successful business acumen behind them,supposedly.Mark Ashleys replacement starting at around $300k less,is certainly a reduction on company cashflow for a start upfront.No doubt other bottomline economies are on the way.

at.2c that values existing operations and plant at around $11m with YOUNAMI worth that on its own.Wiluna itself has a recent production of around 50koz.Beats A1 minerals(shk - Stone resources)as an investment with upside.

The bit about a number of shortfall preferential sub-underwriters,sort of says anyone wanting a bit extra i.e. of the shortfall shares may have to que up after the others bellys are full.I see Drummond Gold is using 200k of its consultancy fee as one of these preferential shortfallers.

Even Bluescope and Onesteel put shareholders first on shortfall applications a number of years ago.That proved quite profitable for those that did apply at the time,as it normally does elsewhere.It would appear others figure the bargain,is too good for existing shareholders to get first dibs this time,unless your big enough.Maybe you or I should have made sure you could be on the new board to make sure to put ourselves at the front of that que to sure up our interests.

100koz at $1100 oz in 2yrs should be easily achievable if these gents are half what they're meant to be.

Pity about others getting first dids on oversubscribing for the shortfall,the main reason i stayed a holder.

Time to drop this certificate in the bottom draw for a few years.looks like i might still get that grand back in a few years after all.

DYOR+DYODD