Just a summary so that on any upcoming announcement people have a snapshot at hand.
At 11.5c, Cap ~1.7, cash ~1.5, Options 13@20c, Top20 57%.
Currently a shell company, having abandoned all projects : Coppermine bore and Jilliary, due to government stance on Uranium.
WTN is currently examining project portfolios.
Interestingly, in the top 20 Kemast which I believe is associated with Kerry Stokes holds 4%. Wulura investments registered at the same address as Kemast also holds 4%.
Nominees hold around 18%, with the dreaded ANZ a mere 2.21%.
This company is unique on the ASX in that it has no debt or obligations, and has completely wiped the table of all projects. This means it could be used as a reverse listing vehicle for a plum privately held asset in need of development capital to the benefit of WTN shareholders and the project vendor.
It remains to be seen whether management can achieve this.
Interestingly it has been a quiet achiever of late, with no options on offer, and a purchaser willing to go to 14.5c this week to fill their 150k share order.
Friday saw a small $100 trade to reset the price back down to 11.5c. I will leave that open to interpretation.
I would not be surprised to see a complete change of commodity focus, or at least country focus.
As always, DYOR, and remember this is a high risk speccy.
WTN Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
