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23/09/18

20:17

Post #: 35785643
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Originally posted by topwon ↑

Originally posted by kimho22
Some people put the hope on exporting to Vietnam. Vietnamese people very smart and always scared of the dodgy foods, they bought the long time well known brands since the French colony for example Nestle, but not nobody known brands.

There are plenty of great mining stocks at the bottom cycle currently and very quickly recover due to huge amount of revenue, income and commodity price out of the bottom. Why did you stick to a stock you have no evidence on its future or you just dreaming of. Have you found any supports or covers from the advisers or institutions for the WHA investment? Have you found the history of the director?

Hi Kimho22
Wattle is currently exporting 12,000 tins of IF to Vietnam per month and the demand is for more. The contracts for IF to China are many and large with Walmart China and COSCO. SMRA approvals come in batches of approximately 30 companies and it is expected that Wattle will be in the up-coming batch. On the 8th March 2018 Wattle received qualification and certification for IF but is still waiting for registration. The restructure of CFDA earlier in the year which ultimately resulted in CFDA merged with SMRA, has already seen hundreds of applications delayed by 4-6 months. I believe the Director Lazarus Karasavvidis is overall making the right moves for the future. He did make the mistake of not organizing for a major holder to exit when it was required at the time of the last raising at $1.25. This was the reason the share price retreated to below the raising price and this overhang still exists. I also feel his salary is too high at this stage of the company's development. When FMG was making a similar income in 2004-5 Twiggy Forrest was only taking $100k p.a. In Lazarus's defense he has worked to set up this company for a number of years without drawing any salary.

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Why do you keep comparing WHA to FMG?? Fortescue supplies iron ore to an under supplied market, particularly back in 2005 to 2014 and it's a market where brand name is not all that important compared to ore quality. Wattle is trying to break into an oversupplied and competitive market.

Get a grip on reality

WHA Price at posting: $1.03 Sentiment: None Disclosure: Not Held
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