Member Info for oztrader

I think the proposed changes ARE positive. I have doubled my holdings and will await the vote on the changes. Could go either way after reconstruction but I'm willing to take a punt on the new management alone. Just the fact that Ian Middlemas is now chairman of the board should be enough to create interest. I'm thinking they would want the proposal done & dusted before the AGM, usually late Oct. WHE was the third worst performer on AIM over the last 12mths, losing 90% of its value. Ian has seen his holding (usually via Arredo Pty Ltd) diminish in value also, so its not just us that are suffering. At least I can now see some light at the end of the tunnel.

Wonder how long it will take to get my rights money back.

At this point in time, you can't extract the Uranium and make a profit, simple as that.

My short term calculations are 18c-21c post reconstruction and 7c-8c ex-entitlement. Rights should trade around 2c-3c I will be buying anything below these figures. After reconstruction, the company will be tightly held and I expect some form of scrip deal on a new project down the track. It won't take much to move the share price after that and that's disregarding any prior announcement on the existing assets.

newmsx, It's still unclear what they have planned for the existing assets. I expect some kind of forward statement regarding their intentions in the future. What excites me is Ian Middlemas' ability to bring new projects to the table. Ian is a highly respected mining entrepreneur here in Australia and has been behind some huge deals. He has the contacts to source both projects and funding.

If this goes through.......Divide the number of shares you currently own by 30. That's how many shares you will now own. Remember, after the reconstruction, there will only be 13.6mil shares in the company, so they will be very hard to buy at that stage. For every share you own after the reconstruction, you will be able to apply for 5 new shares at A$0.05 (approx 3.8p) lifting the issued shares to 81.6mil still very tight indeed, or sell your entitlement on market as it is renounceable. Then the next stage of my prediction may come true.......... Stay tuned !

As expected, the company will be consolidated on a 1:30 basis, which will reduce the issued shares to 13.6mil. Board "shakeup" Mr Matthew Swinney has resigned as Managing Director and Messrs James Strauss, Brett Mitchell and Konrad Wetzker have all resigned as Non- Executive Directors of the Company. (thank you for your contribution BS). Mr Ian Middlemas, (currently a Non-Executive Director) has been appointed as Chairman of the Company. Outgoing Chairman, Mr Mark Hohnen, will remain on the Board as a Non-Executive Director. Now that's a great move IMHO (I will explain later) Following completion of the Consolidation, the Company will undertake a 5 for 1 pro rata renounceable entitlements issue (“Entitlements Issue”) to raise up to approximately $3.4 million before costs. Funds raised from the Entitlements Issue will enable the Company to pursue new opportunities in the resource and other sectors and to progress the Company’s current projects. All good ............. Hang in there IMHO !

Tell the idiots that think WHE has been suspended from trading in Australia, that they are WRONG. Only WHEN have been suspended WHE(N). The "N" stands for New. This was the code given so that people who took up their entitlement, could trade their new shares prior to them being officially listed. Since the rights issue was cancelled, obviously there will be no market for the new shares, so WHEN was suspended from trading ...... NOT WHE !

My guess is, (not necessarily in chronological order) A board restructure, including some current members "stepping down", (thank you for your contribution BS). New director(s) appointed. Share consolidation. Cornerstone investor (vendor) takes shares as payment for project. Placement. Possible name change.

Let's wait and see.

Looks like a consolidation and maybe a new project coming. 1:5 ???

Looks like I didn't !

Understandably, there has been some negative comments regarding the BOD's recently but believe me, don't underestimate these guys, or their contacts. We were down 15% yesterday on extremely light volume (100k shares) so don't read too much into that. I took up my entitlement for reasons stated previously. Let's hope the momentum continues here today. I luckily traded a few upswings in the down trend, so I'm not hurting too much at this point.

The main implication is a large shortfall in the rights issue. Pity I sent my money in today ! Another possibility is that maybe we will see an underwriter to the issue. A lousy $1.4mil shouldn't be hard to raise. Maybe the BODS should pass the hat around. Anyone know the cost of keeping the UCG leases in good standing ?

I believe the bods will be doing all they can to keep the ship afloat and I'm sure none of them want their name next to a failed company. For that reason, I have decided to take up my entitlement, however, after reading today's quarterly, I don't feel very confident. I will wait until the last day and hopefully Linc will come to the party in the meantime. Good luck everyone, which ever way you decide to go.

So much for the saying "no news is good news" ........ "Due course" ??? The most frustrating company I have ever put money into !

I will take up the rights issue ONLY if the Linc deal is done prior to the closing date.

Simple, if you don't like it, don't take up your entitlement, sell and cut your losses. My last comment until the dust settles.

Sorry, that wasn't very clear. The .07c was a typo and nothing else. Not "the original price".

The amendment to .007c from .07c was just a typo and nothing else.