Change in strategy
For those of you who have been watching, you'll notice there's been a clear change of strategy over the last two years. In my opinion, the Wessons planned to tie up all the loose ends into a pretty bow, and then sell it to the highest bidder. I welcomed this approach, because it provided the possibility of astounding short-term returns that would have annualized into the triple-digits.
More recently, all indications of a planned sale have gone. Instead, I see the company moving towards operating the mine. This means it will take much longer extract value from the company, but we get to claim much more value with this approach. Think beyond sangdong. If you think this is premature, keep in mind that exploration budgets have been slashed all over the world, and this is expected to lead to dramatically higher metal prices in the coming years.
From what I can tell, Ned Goodman is going to use WOF to draw attention to the CSE. If it works the way I think he's hoping, the entire economy is going to benefit (but maybe not as much as WOF shareholders!)
This is all just my reading of the situation as it has unfolded. I still have my full position. As always, do your own DD