William Resources - WIM-TSE Message Board

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Gold/Mining/Energy : William Resources - WIM-TSE

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To: G who wrote (889)	1/30/1998 11:53:00 AM
From: EricVdP	Read Replies (1) of 1326

G: Do you have a clue about what you are talking about? There is one basic reason why companies go into bankruptcy -- they are out of cash. If you can explain to all of us why you believe WIM is on the verge of running out of cash, you would do us a big favor. If not, I for one would appreciate it if you would do your ranting in private. I'm sure that losing a 1/4-million or whatever you are up to at this point is painful, but acting like a two-year-old on this thread is not going to change your investment results. If you would like to exchange views on liquidity, however, I'm game and I'm sure many others here are too. You might even learn something that would help you. Peter: a quick reply to your question is that, as of 9/30/97, WIM had US$21 million of cash and $99 million of debt, at least as it is accounted for on the books. Some of that cash was in escrow and has been used to pay down debt as part of the restructuring. If you are looking for a cash rich company, this isn't it. That doesn't mean WIM is necessarily running out of cash, however. G, your turn.

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