WDR (ASX) Takeover

Originally posted by Micklemickle ↑

Hey A-team,

I respect your sentiment, though i'd think that what we are looking for isn't a really good MD who wears his heart on his sleeve. For $560,000 a year we want someone who can mine - not only meet expectations but exceed them, as most other small iron ore company are doing right now.

I admire your loyalty to Norm and your guarded optimism, however Im not sure what you're expecting in September that will change things significantly, the reality is the share price. If things were going well wouldn't you have the same traders/spruikers manipulating the price up?

And if its way below value, why isn't some heavyweight buying in for a song?

I just dont think that the company forecast that says they will meet production rates for the first time this quarter is going to be enough. This is the good season, wet follows this, pits and haulage roads go under water... but salaries and director fees don't.

I would guess that they would probably have to double production during the two dry quarters to catch up for past poor performance and compensate for the wet ones to come?

That's what Id like to hear in the September report

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Sadly those production estimated wont be met. We'd all be jumping over the moon if that was even a sniff of a chance.

If anyone is expecting a $1 share price anytime in the near future then sell now. You'd be more likely to get a dividend before that.

As I said previous key personnel left a lot to be desired and these guys came with recommendations, so it is not like they applied for the job out of the community newspaper.

The previous barging contractors were a disaster! A very expensive disaster.

I believe Duncan Coutts will add value and I think he already has.

As for Norm's salary... I'd reckon he is more hands on than most MDs and doing the job of 2, 2.5 or even 3 people that some other mining houses would have in place.

Sadly those production estimated wont be met. We'd all be...