Int'l Speculator says take profits in Western Lithium
Western Lithium Canada Corp (C:WLC)
Shares Issued 62,220,000
Last Close 9/24/2009 $1.08
Monday September 28 2009 - In the News
The International Speculator in its Sept. 2, 2009, issue, says sell some Western Lithium Canada Corp. -- perhaps half -- at $1.16, officially, "Take profits." The newsletter said buy on Jan. 28, 2009, at 76 cents, and again on Aug. 3, 2009, at 59 cents. Assuming an investment of $1,000 for each of the two buys, selling half at $1.16 yielded a profit of $728. The remaining $1,000 investment is worth $1,728. The writer checks the press releases and notes the company plans to raise up to $15.2-million by issuing up to 16 million units at 95 cents each. Each unit consists of one common share and one-half of a warrant. The money will go toward more drilling on the company's Kings Valley lithium project in Nevada so that it conforms to National Instrument 43-101 requirements, and for general corporate purposes. Cashing in while the share price is up is not surprising, but what the writer does not like is what he describes as a "pretty serious" amount of dilution. He urges subscribers to get risk-free at this point, until the engineers weigh in with their project feasibility report. Sister publication Casey Investment Alert got the jump on International Speculator with a Dec. 29, 2008, buy at 19 cents.
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