Wesisze

[Theater_Cat]

Are they already bust or will they soon be? Don't really follow this one - those that do, please lets hear your views.

[Mr_S]

The last i heard from Wesizwe, was that they were sitting on a satisfactory cash position, and that they will continue as planned as they expect the Platinum price to recover, hopefully buy the time they start production. I am getting a bit worried though because we have not heard anything from them in quite a while and i think that this is a critical time for them to actually keep investors clued up. Im quite proud of Merafe in this respect as they have been keeping us informed, and im 90% confident about my current and future investment.

[#3]

wow this is on a serious decline, i recall this up at R10 not too long ago. Maybe its time to get in but the lack of info is worrying

[_nova]

Mike Solomon is a miners miner and doesn't open his mouth unless he has to. You either believe in him or you don't as I don't think he much cares what people think of him. Go read the SENS statements they brought out end last year. Two things: 1) They're now taking a modular approach to building the mine and will spend money only as and when they have to, to protect capital reserves (they're actually delaying several capex projects) and 2) they're acquiring AMS's stake in the joint venture, which boosts their PT reserves significantly. Bottom line is that WEZ is sitting on a high grade, shallow reef with a 'lowest in industry' projected production cost and they're doing the smart thing in bad times by going into hibernation mode. They do not have the operational costs of a working mine and they can choose when to spend money. This is a risk play, but so is AMS at R400 and whose share was recently valued at R52 by Credit Suisse and SBK...

[_nova]

oh, and if you do have any doubts since they don't put out statements regularly, just pick up the phone and call them. As a shareholder they have a due dilligence obligation to answer your questions. I call them every couple of months and they've always levelled with me. Times are tough and they admit it but they're also very, very happy that they're not yet into major capex or operations which allowed them to revise the mine development schedule into survival mode. I think it's the operating small to medium PT miners who are in a far worse position than WEZ. They're bleeding cash like slaughtered cows