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Any idea why WEZ is in trading halt? I bought this high and have a lot of lost ground to make up for. Hopefully, it's good news.

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In reply to: bettyboop on Thursday 14/06/07 11:53am

I would say it's to do with raising finance for the project. They need to raise a lot and they may have favourable financing. We shall soon see. Be prepared also for a possible cash issue. All the best

Sharp

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In reply to: sharp737 on Friday 15/06/07 01:11pm

Hi Sharp

 

You know of any recent (2007) valuation or broker report out on Westonia? Rights issue is intriguing, but no word on exact RC drilling timetable for exploration or supporting investor presentation yet from what I can see.

 

Cdr

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In reply to: Commander C on Tuesday 19/06/07 06:42pm

No, sorry Cdr, don't know of recent broker reports.

I did know an aquaintance that knew one or more Westonia workers a while back that gave the company the thumbs up but since that time, the share has gone from around 14c down to the 8's now. It does however look like Westonia are trying to build up more reserves so that financing will be easier. I think that's what I would do in their situation but I'm not sure.

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QUOTE (Weej55 @ Friday 22/06/07 12:18am)

http://www.sharescene.com/html/emoticons/thumbdown.gif You mean this one http://www.sharescene.com/html/emoticons/tongue.gif

 

Heh, but seriously, if one is willing to take the risk, WEZ I think at the moment is a Buy. I don't think it can drop much more. Am looking at that now myself but as a broker friend of mine said years ago, you have to remember, "You make the call, you wear it" eh. And if one buys now, be prepared for more cash issues in the future.

 

The big problem as I see it is that over A$60M is required to finish the Westonia project. Financing for that has been their problem. If they prove up more reserves in the area, then perhaps the bank/banks will be more sympathetic and they won't have to raise as much through a large cash issue and dilute the shares even more. And this is the main reason why the share price has dropped substantially over the last 6 months. The high A$ to the US$ has not helped either.

 

Just my thoughts please. DYOR

 

Sharp

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  • 3 weeks later...

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Recent ShareScene.com Radio Broadcast (05/07/2007 13:30:00):

WEZ - Exploration Update July 2007 - Mr David Hatch, MD

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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