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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: ralfph who wrote (1049)	12/31/2001 11:25:54 AM
From: russwinter	Respond to of 39344

<Whats up with WRM ?> I think you hit the points. It is worth a look I suppose, but after they make a deal. 53.4 million out, plus 11 million warrants at 75 through 5/23/02. US$20 million market cap before the wts. The have about US$15 million net working cap plus 4 million shares of KGC ($2.8 m) and a decent project called Bellavista. So right now it's essentially just a fairly priced capital pool under the auspices of some sharp players. sedar.com The problem as you stated is that this is an expensive pool given that they've ripped through about US$ 2 million in G&A in three quarters this year. I've been looking for some let up in that, but it didn't happen in the last quarter. It's a pass for me because 1. why invest in a company that just promises a major deal at bargain rates and has failed to deliver a year later?. 2. pay themselves through the nose to clip coupons and "promote". I'd reconsider if those variables change.