RE: net income of $2,249,065 to wmk Hi Toptips,
Be careful in assuming that earnings will keep up because in order to erase the $23 some Millions of debt. WMK had to sign a non competitive agreement with Petrogas. So Midstream energy partners cannot compete in the same market as Petrogas until 2022, i think its Sept 2022. After that it will be ok to compete. In the mean time we wait but having Stan Owerko on board gives me a very good vibe. If you go back to Dec 2010 Kasten Energy(privately owned) dished out $12.995M to follow suit and take care of Whitmud's debenture holders at the time. if i remember correctly there was another investor named Al Kroontje who had $1.5M invested with Kasten energy into Whitemud. Kroontje is now involved in Lithium Chile and I am now wondering Lithium and Kaolin have in common, Well i think it's all about batteries now. Through my DD i found out that we have a lot of oil patch people into Whitemud and there are relationship that the non compete clause had to come from the Altagas deal where Idemitsu Kosan could get in with Altagas. Idemitsu coincidently are into resource development and combined with Kroontje and Owerco's knowledge, they could well start refining the kaolin to 99.9% purity using the HPA processing technologies. which then could be used in lithium batteries. Having said that, it is total speculation from my part and it is totally all above my pay grade but one thing for sure why would Petrogas forgive a debt of $23M which would include Krootje's $1.5M and Now SAM Holdings are the new controlling shareholders of whitemud at 44%. So for some reason I think Stan Owerco and his friends have some big plans for this little company called Whitemud. Totally pure speculation from my part but I did not let go of any of my shares on this last run from $0.02 to $0.14. Some would call me a fool but something is cooking somewhere in Calgary and I want to have a taste of it!
Regards
Fearlessgg