Member Info for LOTM-13

Company certainly not doing itself any favours by not saying anything at all regarding Ohrid.

Looks to me like virtually none of the loan was repaid prior to the 30th June. I do hope they are actually harvesting every 20 days & using the funds to expand the facility further.

I must say I get the sense that they really do feel like something is going to happen really soon regarding Oman or Saudi or both.

You have to take your hat off to them for their commitment to the business, no salaries for over a year etc. night & day compared to many other companies out there.

Interesting to note the large scale trading in the auctions, I often take that to means buyers who for whatever reason can't trade the stock directly but have access to the auction mechanism to be able to do it that way (matched bargain basis).

Watching this space very closely indeed.

GLA

LOTM

I've just been looking through the various company documents, although the 2024 annual results came out on 30th June 2025, it doesn't appear to be the case that WSBN has held its AGM yet on the back of that yet.

Well Mr Chairman if that is indeed the case, then you might have a very shoogily peg for your £200,000 salary job, when that meeting comes about.

LOTM

Novicehunter,

I'm furious with them (BOD - especially the Chairman) but that doesn't mean I'm going to sell up.

As far as I'm concerned the Geology will do the talking & from it I will decide when I will hold, sell or buy WSBN. I just need to also factor in an untrustworthy BOD into the calculations as well.

LOTM

Yip, totally staged Dibs61, for those in the know to sell into volume generated on Thursday........

What else did the cores reveal later on Thursday? then all day Friday, all day Saturday, all day Sunday & at least Monday morning Perth time, that's another roughly 60M minimum of very important core data in there hands - possibly even as much as 100M & they carry out a placing right at that moment in time !!!

The whole episode stings to high heaven.

LOTM

EdwardSeaton,

I think you had better have another look at the accounts then, because you are totally wrong regarding a profit on the investments.

Maybe you need to speak to an accountant to enlighten you, since I know you & one of your friends are heavily invested here.

The business overall lost over 9p a share during the 6 month period.

LOTM

Silverknight,

Dividend is coming out of reserves not earnings...

NAV headed south at a rate of knots.

Good luck with that, personally I wouldn't be buying it at this price that's for sure.

LOTM

Robsaunders1,

The Directors put in £300,000 not long ago & own around 9% of the company, so they have a good chunk of skin in the game if you'd bothered to do any research at all, but that of course doesn't suit your narrative here.

They were in a closed period as well as being in receipt of information (daily from the new hole 2 cores) so there is no way they themselves could participate in the placing.

LOTM

Wow, a terrible set of results, sure they should have flagged-up what was happening with the South African operation before now.

Lost over 10% on there investment portfolio as well, hopeless.

So South Africa will be lucky to break even & they are having to use up there best grade coal to do so (diminishing there overall reserves at the same time).

Might have to write down the value of the development site as well, everything headed in the wrong direction at a rate of knots by the looks of it.

Its just a life style company for the directors at the expense of others that's why they have the investment properties to fund there annual salaries.

LOTM

You also have to wonder what did they see in the cores from 25RSDD002 over thursday, friday, saturday, sunday & monday AM Perth time, that made them decide to push the raise now button ?

There stupidity knows no bounds, all its done is highlight potential worries that simply weren't there before yesterday, but are now flashing RED to everyone ..................

Furious doesn't even come close. total destruction of trust between a BOD & its shareholders created in an instance............

LOTM

Cando66,

I highly doubt you're going to even see a tweet from them today, nevermind an RNS.

We'll be lucky if they even tweet tomorrow, if we're lucky they might give as a tweet or an RNS thursday - as they might hope that doesn't look quite so bad (too soon) after the placing to make it obvious as to who they looked after.

LOTM

Hi Ak247,

I haven't sold any shares, I'm waiting to see what the next set of cores from hole 2 look like, that & the assay's will likely guide my decisions going forward, but I will also have to now factor in a Chairman & possibly others on the BOD who simply can't be trusted.

Shareholders are going to need to stand up & be counted & that means emails etc to the company especially the non executive directors telling them that we are not going to put up with this kind of conduct & that the Chairman needs to seriously consider his position etc

LOTM

Casper786 works nightshift a lot of the time, I'm sure they'll appear in due course.

LOTM

Ak247,

No institutions will now touch WSBN while the Chairman remains in place.

WSBN is going to need institutional support if it intends to remain independent for more than 6 months ( provided that they have found something that actually is a Tier 1 deposit) & the sadly the Chairman & the BOD for that matter with todays money grab bring that belief very much into doubt.

Total stupidity from the BOD.

LOTM

Bandicoot,

The fund raise stinks to high heaven.

The fund raise 34 days ago of £1.5M was meant to be for an expanded drilling program & to fund drilling into 2026.

There has been no increase in drilling activity whatsoever with the £1.5M they raised, no presentation put to shareholders to show them what that £1.5M was actually going to be spent on & 34 days later another £4M is raised before we've even seen the assay results to date of hole 1 or hole 2 has got to the bottom of mineralisation.

Yes they were going to need to raise more funds for drilling but they were crowing 34 days ago about how much drilling A$3.1 got you !! well apparently very little given they were already funded to extend holes 23RSRC001 & 23RSRC003A from 2023.

The "right" thing to do was to wait until more data was in the public domain then raise funds accordingly. If things are anywhere near as good as they have made out so far, they would have been able to get a placing away at a much better price than today's one.

But they didn't do the "right" thing for there shareholders, they did what was going to benefit those close to BOD & its financiers & Thursday's intraday RNS was all part of it.

The Chairman's position is now untenable he has to go.

LOTM

Total contempt by the Chairman towards Shareholders, not even an after the period end events section to the announcement.

RP has to go end of story

LOTM

100% agree Dibs61,

There NOMAD will be getting a call from me in due course about it all.

LOTM

People trying to defend the indefensible here,

£3.25M raised from 11th June, before today's raise & that so far hasn't even managed to get us 1000M of drilling & assay's where appropriate, whereas half that sum is more than enough for others to drill 4,000M plus assays in the same area!!!

This BOD have a lot explaining to do that's for sure.

LOTM

No allthatguff, you have another choice, remove the Chairman from the BOD & anyone else who is not acting in the best interests of shareholders.

LOTM

Given the BOD's conduct, it wouldn't be at all surprising that Thursday intra day RNS was part of it.

One could easily surmise that this might have happened .......

Ok here's what we'll do, we'll put out the positive RNS, you guys sell your shares into the rise, that'll give you lots of free funds & then we'll do a placing in a couple of days time at a nice healthy discount for you all, so that all our "friends" are well taken care off.

Stinks to high heaven, just like the BOD.

LOTM

Absolutely disgraceful conduct by the Chairman & BOD

To quote the Chairman from 27th August - Yes that's just 34 days ago

"Richard Poulden, Chairman, commented; "The proceeds of this fundraise will provide a significant boost to the Company's cash reserves and provide additional working capital to significantly expand the Company's drilling efforts at its key 100% owned Red Setter Gold Dome target near the Telfer Gold Mine.

The strength of the British Pound versus the Australian dollar (1.0 GBP gives 2.07 Australian dollars) means that this fundraise equates to nearly A$3.1 million which pays for a lot of additional drilling and expands our exploration activities well into next year."

There has been no increase in activity whatsoever since the last fund raise.

They have No credibility whatsoever as a Chairman or as a BOD.

Sack the lot of them.

LOTM