Western Copper and Gold Corp WRN

SP WTF

[IvanRo]

Copper - 4.37/lb and Gold within spitting distance of 2,400/Oz and our SP drops by 11.5c US - it doesn't make any sense. My head scratching, has me circling a few randoms. Short sellers triggering a sell off... some news that hasn't been published yet - grid connect?... PWS resignation? RIO or MM selling out. There must be a reason for this.

[IvanRo]

Well that explains it then...

[IvanRo]

Anyone got any ideas why we need an additional 25m? We have about 32m on the balance sheet in Cash and Cash Equivalents (~25m) and Short Term Investments (~7m) which should be just about enough to get us through the permitting timeline of ~3yrs.

[jclarke042]

Apparently Eight Capital didn't want to pay above $1.90. Literally the only reason I can think of. And all the overage will be used.  

[nicholas]

Eight Capital has been buying a lot of shares these past weeks. Usually, a underwriter will short a company before a raise if they have no skin in the game. Also, the bought deal price is quite decent, and allows them to wait out Rio from a position of strenght. I feel like the new CEO is simply bringing in more Bay Street money as a way to put some pressure on RIO (who will have to buy shares to

[IvanRo]

@Clarke Agree. @Nicholas yep Rio and MM will have to stump up more cash not to be diluted. However, to what end, non-major / private equity cash isn't really going to excerpt that much pressure on Rio - if anything it will potentially make a buyout more complicated. Also, what will we do with the cash and additional cash from Rio / MM is they maintain their %s, new project? If there is no plan

[Pinegrove1]

$32m on hand + $25m + $4m (15% of 25M) + $3m Rio top up = $64m.  Without an explanation it looks like too much cash, too much dilution.  At this point I'll give management the benefit of the doubt.  These are not stupid people.  Something is up, just don't know what.  We deserve and will likely get an interview shortly (Crux) so that we can be brought up to date

[Sooner]

maybe the agreement was for Eight to buy 1M shares in the open market over a 1 month period and after that WRN would sell $25M equity stake at whatever agreed to amount was predetermined --- for example, you need to buy 250k shares every week over 4 weeks and we will grant you option price for $25M at whatever average trading was during week 2-3 or something along those lines. I really don't

[jclarke042]

Well, sooner, this should be easy to figure out. Steve, does Eight do coverage as well? 

[jclarke042]

Answering my own question, they do. The real question is who buys the raise, and can they initiate research on owned positions. Agentis Capital, to my knowledge, doesn't own a share. Until we know who the takers are, I'm intensely annoyed at this.

[Pinegrove1]

We should all be firing off emails to Sandy Noyes for an explanation. 

[jclarke042]

She's long gone, send them to Sandeep. Same email address format I'm sure.

[Sooner]

ummmm - is someone answering her old email account. I sent this email off to Sandeep/Paul, Hello Sandeep, Paul,   As an investor in WRN , I have 465,000 shares and I’ve continually been concerned about the dilution.   We’ve previously been told we have enough cash to get thru permitting…only to issue more shares.   Most recent example today for another 13M shares.   Can you

[Allinvest]

465,000 shares !!!! In a penny stock? Wtf man, 

[Sooner]

Hello meathead!!!! Long time since we've heard from you....

[Asdfghjk]

He is pissy as he sold his Troulis shares at .40 cents a share and w weeks later it hit .83 cents a share. We will likely see him more now that he backed out of it after saying time and again that will be built before "this moose pasture" refering to Casino.

[EvenSteven27]

Nothing that comes out of MeatMeth's moutg can be trusted. 

[Marine2]

Sooner   Great questions, for another $25 Million Sandeep must have some deal,, as in, an opportunity to add some real value to WRN.  Time will tell Just remember Sandeen is a deal maker and has some skin in the game ! Put his hand in his own pocket( $3Mill) for 2,222,222 @ $1.35 then we moved up from there ! More skin in the game, total 5,222,222 million in total ! All good IMHO

[EvenSteven27]

Ask me and my take is a very stern warning to Rio not to mess with us. 

[StandingOwl]

Just a thought. Yesterday I was wondering what Rio and MM knew that we did not. I would imagine a lot. So with that in mind, with all this cash will we do more endless drilling? As in drill baby drill? It has been mentioned a few times that there could be other sources of minerals on this site. Maybe there will be an announcement soon about this as summer approaches.

[StandingOwl]

Also, WRN announced 8 Capital bought some significant shares. It was also announced on this site that the One and Only Sooner bought shares too, just before. I sence a paradox. Sooner what is your connection?

[Sooner]

haha! No if i was in the loop --- my cost basis would be MUCH lower! And please...i'm begging....NO MORE DRILLING....we gots enough metal!!!!!!