quarterlies out..., page-5

RT - I take your points, BUT I think this is a time for lying low, so to speak. Conserve the cash, wait for the dust to settle, and THEN either move into production or look for acquisitions.

The problem with spending the cash now is that:

1. they won't have enough cash to pay for any feasibility studies

2. they won't have enough cash to change from exploration to production, and in the current financial climate, nobody will finance them. They will have great trouble moving into production without cash.

3. if they DID buy another project (eg the Parys Mountain project, now scrapped) they would then have the additional cashburn created by the new project. It would just be a quicker way to spend all their cash reserves they have left after the acquisition.

Nope - I'd be consolidating for the time being, lay low, quietly continue exploration, move towards feasibility studies, and THEN, when the financial mess has settled down, they may just have survived in a good enough position to move on from there.

IMHO, for a junior explorer like WMT to be looking to make acquisitions now, could be a sure-fire way to end up going bust.