RE: oztrader28 May 2014 00:36
Not going anywhere - Not buying - Not selling either, but I'll wait and hopefully recoup my investment at some point in time. WHE is not alone in seeing its UCG investment falter. Most companies that invested in that area are trading near all-time lows, not unlike the geothermal hopefuls. I still have faith in both technologies but it's the wrong time to be investing in those areas and that's why we didn't get any value when looking to sell the UCG assets. As far as the Uranium side is concerned, U will probably have it's day again at some point in time and yes WHE is sitting on quite a good asset but how do you extract value from it ? 1. Sell it, 2. develop it, or 3. sit on it until prices rise and then revert to options 1 or 2. We will just have to wait and see what transpires. My preferred outcome would be to sell it, along with an royalty on future production (something that should have been done with the UCG assets) and move on. There are many other opportunities out there and believe it or not, a number of the directors are extremely good and have the contacts to bring another project to the company. It's just been bad luck re timing.