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I, like you, have owned WRM for some time now. I had 2 chances to get out with a profit, when the share topped $3.00, but got greedy and stayed in. The fact is, however, that they have proven reserves to support a price of $1.20, and proven/probable reserves to support $1.75. The reason for the lowball price is that people are tired of the curse that hangs over this company. Sooner or later, their luck has to change. In the meantime, I'd rather see the stock go to zero than sell at this price. What's going in our favour, in this dispute, is the fact that the press has no idea who Wheaton (or North American Metals) are (and if they did, they could care less). As a result, the natives will get zero media coverage of their blockage, except perhaps in the local Prince Rupert rag, who no-one of financial consequence reads. This lack of visibility favours WRM in this dispute. |
