RE: RE: WTF??Volumes are very low, so the good news is that it won't take much to shift the SP upwards. WFE needs to update its presentation within the next 2 months or so and then plan to hit some investment conferences with an international presence. It will not take too much promotion to drive the SP back to the $6.50/sh range, and the main purpose for this is to fend off unwanted advances.
The market doesn't fully comprehend that WFE has significantly de-risked its best reserves (Red Water) with the latest round of drilling, and they are continuing to refine their development business model. The market is giving no credibility to a takeover, and believe me when I say Sprott and other shareholders will not let go without a significant premium to the current SP.
All the market sees is the production numbers, but that is only half the story if you ask me, and the risk to achieve or beat the guidance was significant. The WFE team put out aggressive targets, rather than going with the sandbagging estimates that some companies will provide.
Cash flow was strong, and that is what WFE needs to grow production organically. Oil prices are unlikely to go lower in the near term, so that bodes well for a solid drilling program in Q1. The market may respond positively when WFE provides guidance in general.
Anyone selling at today's prices must have rocks in their brains given the risk / reward ratio in the next several months, and the very limited downside. At least that is my humble opinion, for what it is worth ...