RE: RE: Nice support zone at .20..time to buy.. I think the question of whether to buy at these levels is a good one. We have an obviously low share price, but for no apparent reason, other than lack of hand holding financing news by management. Others have dismissed management as incompetent, but, aside from poor shareholder relations, I'm not sure what specific mismanagement is being alleged.
From my perspective, the latest, and only seemingly relevant news, is:
1) Financing negotiations remain underway with expected completion in April or May.
2) IMC is still onboard, evidenced by its February extension of WOF's 5M loan, and pledge of 5M more.
3) No negative (pullout) news from Shinahan.
4) No major apparent sell off by institutional investors.
5) No specific negative news regarding WOF developments (albeit negative indirect impacting news regarding No. Korea and some weakness in Tungsten prices).
6) No noteworthy change in WOF fundamentals.
7) Goodman appointment to the board.
8) Replacement of the CEO, apparently considered a stumbling block to financing completion.
To be sure, we have experienced a noteworthy retail share price drop, but why? Clearly, aside from negative insider news of which we are unawhere, management could have ameliorated this share price reduction with timely status reports. But, long ago, ostensibly, the company apparently established a precential policy against close shareholder relations, transparency, and disclosure and that policy appears to remain in full force and effect. However, once again, with or without this news, institutional investors with many millions of shares at stake appear to be staying put on the stock and not participating in the sell off. But, they don't appear to be buying either. So, in my world, those are the issues.
Given the above, I consider the stock oversold and the current price to be an entry point to accumulate more shares. We are at, or very near, old major support levels. The fundamentals appear intact. The stock is currently trading at approximately 50% off its last December .39 high. I surmise that short term retail investors and speculators may account for the sell off of the few million shares that have traded to the downside. The stock may drop a bit more, but the downside risk from here looks a lot less ominous than upside potential from here, especially if management is even remotely accurate in predicting "completion" of financing, much less by April or May. Does the investment remain risky? No doubt. Is the risk/reward ratio there? No doubt. Obviously, just my ruminations. Good luck to all longs! Seg.