WML 16.7% 0.5¢ woomera mining limited

It did not open at 14 I was watching from start of trading. Open...

  1. 1,312 Posts.
    lightbulb Created with Sketch. 29
    It did not open at 14
    I was watching from start of trading.
    Open means first trade.
    Anyway not important.

    What is important is what is next.
    Management have not released an announcement of note as yet, not what i was told would happen before I/we signed

    They have been listed for a month now and are yet to even update the market on what exploration is planned, where and when.

    Funds raised are largely for exploration and to progress the company which of course is a mining company.
    To grow shareholders wealth and simply it is time the directors told shareholders what they are actually doing. People do not give a company money to sit around doing nothing.

    And surely we as shareholders, vendors, etc should expect after a month an update on what plan is in place.
    Time is money as it costs money even if they do nothing due to director wages and fixed costs.

    This listing process has actually been going for 18 months
    I know as part of the vendor team for the lithium projects.
    So don't think this is just a month old.
    There has been due diligence done on lithium projects well over 12 months ago
    The South Australian projects have a joint venture on a few of them but 8 lithium projects have had native title agreements and exploration licenses for quite some time.

    So there should have been plans in place ready to be implemented before this listed.
    Not saying there isn't but shareholders own the company and directors are or should be working for shareholders.

    So I certainly expect a proper disclosure on what exploration is to happen and NOW.

    If I were a director my priority would be to inform shareholders and work for shareholders and be accountable to shareholders.

    If directors do not feel that way they should not be or deserve to be directors.
 
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Last trade - 14.36pm 29/03/2024 (20 minute delay) ?
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Last updated 14.42pm 29/03/2024 ?
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