Western is BankruptWestern Forest Products is basically bankrupt and throwing more money at the shares by buying the warrants is a complete waste. Tricap will take over the company at 5 or 10 cents per share and they will restructure again and merge it with their other lumber holdings.
Western has now shut down 3 more mills (
see link) indefinitely and it is basically working at about 1/3 of capacity. We will probably only see about 100 million in revenue this quarter and we will see heavy loses, probably over 25 million. Plus we have a 100 million debt payment coming due in September.
All the money that you are throwing into the company by buying the warrants will flow right into Tricap after they dismantle this wreck at 5 cents per share.
I'm out boys.