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They have $600k of cash - so like many of these companies, enough to keep the lights on. They are 62% held by a Chinese company that did a placing @ 0.46p I think. They have a lot of Iron & Nickel and does get squeezy - market cap was £350m in the commods bull market 8 years ago
Chart looks pretty decent there too. How much cash do they have? I notice they have 1.5 billion shares in issue so have been doing a lot more fundraising at shareholders' expense than WAFM.
You should all look at Bellzone if you like WAFM - similar potential
105% up, up and away!
and its offf.....
Top of the risers chart now...
nicely
nicely
When the buyers come in this will double in price. Iron ore expected to go 90$ ton start of next year.
Up 30% and I'm talking to myself here!
2nd on the risers board..
Share is close to cheapest it's ever been here. It hit an all-time low, and rebounded quickly, at the start of November, at which point, taking account of the spread, you'd have been lucky to pick some up for 1.5p. Upside potential PLENTY from here. Downside risk not so much - cashed up to the tune of £3.6 million (yes that's pounds not dollars) and with a prudent management. Plenty enough to weather the storm. And I believe that by the time all the punters realize that the storm has cleared these bargain levels will be history and the lucky ones will be jumping on the train at station 10p.
Have you been in this share long mannnan? What are your thoughts on what iron ore price they might need to kick things off again?
I've sent a query to WAFM regarding that as it's really important and will see what they come back with. I'll post a summary of the response here.
must be following the mining sector .....other ways .no reason for this fall
Does anyone know if this figure has been mentioned anywhere? Just trying to get an idea of at what level they might start moving things forward. The board continue to show prudence going forward. They announced further cost cutting in the latest RNS and are sitting pretty with $3.6 million in the bank. They've mentioned that they are keeping an eye out for bargain acquisitions too. An announcement of one of those could rocket the share price. Worth noting that countless other less prudent boards on AIM would have jumped into the first aqcuisition they could find, almost regardless of merit, in an attempt to "grow" the company and shareprice and keep the punters happy. After all, they can always raise more money at shareholder's expense if they run out...
just because buy cheap ...after the last buy at 2.25 ..now .quote me 2.40
for long term .just buy and forget about this share .then you can make it imo
Just take a look at how closely the shareprice of this company has followed the iron ore price in the last 3 years - down from 65p. Now the iron ore price was last at $80/ton in October 2014. What was the shareprice back then? It was more like 4.5-5p. Yes there's been a bit of dilution since then but even so we should be at 4p now. Basically, this share is HUGELY sensitive to the price of iron ore and when that cycles back up again then people buying in at this level will make 30x their money.
Go button may be pressed at any point. We're seeing examples of other exploration companies with base metal assets that have been in hibernation mode starting to open up again (e.g. AYM). When that happens here could see 4x the current shareprice in a couple of days.
Are you in here too Troajan? Could be a real winner in the short to medium term. Cashed up too.
good mrning to you LOL ....
iron prises..>>>>http://video.cnbc.com/gallery/?video=3000570987