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Has anybody here had the nerve to double up down here?
8 comments:
Anonymous
said...
More than doubled my position. Had a conversation with Brent yesterday. I asked him point blank if bankruptcy was an issue because it sure seems like it. He replied strongly [I thought with conviction] he has heard no one mention anything at all about that. He is waiting like us for the the financing completion he hopes to announce in the next few days. It will alleviate a lot of the investor fears he reckons. I had to think long and hard to play this thing this way. It is a huge gamble. I can't even say it is a 50/50 chance in the short term until Wega is done with its kill mode tactics. PK sure pi$$ed them off. Mind you if you look at wegas history it underperformed the Oslo All-Share index over all time frames for up to a year. These guys appear to be not necessarily the sharpest traders in the world. Just because they have some seemingly personal vendetta against management does not mean they are bang on with their judgments. That was the tipping factor for me. Good luck all. If we get to November and the reopening with a plan that works this will be a huge good gamble. On the other hand it could be a huge tax loss for future years. LOL
e 1 Week 1 Month 6 Month 1 Year 5 Year Wega Mining ASA WEMI:OSL -12.50% -21.35% -26.47% -51.86% -- Oslo All-Share -3.31% -11.12% -12.43% -19.63% -
Hi Roxy, I was not gutsy enough to "double down"; but I bought a good chunk (unfortunately at 9 cents last week!). Could have bought twice as much today! Oh well... hind sight.. etc! How about you, did you have the nerve to back up the truck?
Roxy, according to the poll results to this point, none of us (who are posting on this Blog) are day-traders & quick-buck-flippers. On the other hand, the majority of us are eternal optimists (or, dare I say: foolish gamblers?!? or both!?).
We're as close to bankruptcy that a mining company get without declaring it. They have lied about everything else. Has anyone asked BJ why he didn't inform shareholders in a news release that the leasing line was cancelled? That definitely put a major crimp in company plans. What happened to the SAG mill proceeds, the $$$ from the PP's, why haven't they disposed of the four trucks, what effect is the hedging having on cash flow?
The MRI and Fortis did us a big favor when they told PK to curtail operations. She was bleeding from a thousand cuts, and telling everyone that all was well. Her board failed in fulfilling their fiduciary duties when they did not provide oversight on behalf of us (the shareholders). Wait until you see the q1 statements, you'll get another dose of reality. The q2 won't be encouraging.
If everyone doubles down or holds we should soon have enough shares to call for a Special Shareholders meeting to fire PK. She received 60 million shares supporting her, from retail shareholders it appears, the responsible thing to do is to rectify that huge mistake.
8 comments:
More than doubled my position. Had a conversation with Brent yesterday. I asked him point blank if bankruptcy was an issue because it sure seems like it. He replied strongly [I thought with conviction] he has heard no one mention anything at all about that. He is waiting like us for the the financing completion he hopes to announce in the next few days. It will alleviate a lot of the investor fears he reckons. I had to think long and hard to play this thing this way. It is a huge gamble. I can't even say it is a 50/50 chance in the short term until Wega is done with its kill mode tactics. PK sure pi$$ed them off. Mind you if you look at wegas history it underperformed the Oslo All-Share index over all time frames for up to a year. These guys appear to be not necessarily the sharpest traders in the world. Just because they have some seemingly personal vendetta against management does not mean they are bang on with their judgments. That was the tipping factor for me. Good luck all. If we get to November and the reopening with a plan that works this will be a huge good gamble. On the other hand it could be a huge tax loss for future years. LOL
e 1 Week 1 Month 6 Month 1 Year 5 Year
Wega Mining ASA WEMI:OSL -12.50% -21.35% -26.47% -51.86% --
Oslo All-Share -3.31% -11.12% -12.43% -19.63% -
http://markets.ft.com/ft/tearsheets/performance.asp?s=NO%3AWEMI
Hi Roxy,
I was not gutsy enough to "double down"; but I bought a good chunk (unfortunately at 9 cents last week!). Could have bought twice as much today! Oh well... hind sight.. etc!
How about you, did you have the nerve to back up the truck?
Yes I did. Hopefully the knife
has fallen far enough. Like my
odds here now better than at the casino.
Roxy, according to the poll results to this point, none of us (who are posting on this Blog) are day-traders & quick-buck-flippers. On the other hand, the majority of us are eternal optimists (or, dare I say: foolish gamblers?!? or both!?).
Actually, I flipped a little from
.095 to .10 recently. Then tried
again and got caught.
We're as close to bankruptcy that a mining company get without declaring it. They have lied about everything else.
Has anyone asked BJ why he didn't inform shareholders in a news release that the leasing line was cancelled? That definitely put a major crimp in company plans.
What happened to the SAG mill proceeds, the $$$ from the PP's, why haven't they disposed of the four trucks, what effect is the hedging having on cash flow?
The MRI and Fortis did us a big favor when they told PK to curtail operations. She was bleeding from a thousand cuts, and telling everyone that all was well. Her board failed in fulfilling their fiduciary duties when they did not provide oversight on behalf of us (the shareholders). Wait until you see the q1 statements, you'll get another dose of reality. The q2 won't be encouraging.
If everyone doubles down or holds we should soon have enough shares to call for a Special Shareholders meeting to fire PK. She received 60 million shares supporting her, from retail shareholders it appears, the responsible thing to do is to rectify that huge mistake.
Yes.
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