RE:Sandeep callSo unfortunately it was a quick 30 mins --- haha. Could have talked longer but he had another call.
Here's some notes-
1) Do not draw too much conculsion on the size of the offering and it being anything more than used for permitting --- he mentioned no interest in Minto and only interested in Coffee more so from a curious observer and who will be new neighbor. He did mention that whoever interested in Coffee undoubtedly would be more interested in Casino.
2) Sandeep believes the new raise will increase share price in the intermediate term --- realizing short term drop in share price. Unfortunately i didn't even ask how this was leaked --- just too much other discussion.
3) Sounds like Eight Capital was brought in by Sandeep and they have been buying over the last month or so for funds and they've been in negotiation for this offering. Share price going up over prior 3-4 weeks - just felt now was best time to do the offering. Mentioned a good offering price for WRN. Committed --- as strongly as he could realizing nothing is rock solid guaranteed...that this should be last raise.
4) Sandeep trying to get up to 6 covering analysts by year end from current 2. So i asked --- we can expect Eight Capital to be one of those ...correct. He didn't commit to that but implied as much after closing the offering.
5) I asked --- does Rio, Agnico and any other interested party want a fully derisked project (BC connect, roads, port, permitted, etc) before buying --- he said....yes....if we let them. Now if we have others interested, if our share price is getting high, etc...then they might have other thoughts so it's our job (per Sandeep) to drive that. If our share price and market cap is going down...he said of course they have no incentive to move things along.
6) Port --- negotiations still ongoing - Sandeep met with Skagway mayor (i think he said last week) but he didn't seem alarmed on this.
Lastly, i mentioned to him that we do not get nearly enough feedback and updates as shareholders from the company. He committed to thinking about better way to do that ---whether it be town hall format or something else. I would encourage some of you to reach out directly to him --- just click on his email on western web site and shoot him the suggestion you have.
My take from the call --- he seemed like a straight shooter and has a personsal stake in this and he committed to working his as5 off to drive up our market cap. In addition, i'll again state he was very responsive so no one on this chatbooard has any excuse for not reaching out directly to him with questions/concerns!!!! I told him....I'd imagine you didn't like losing $250k yesterday in yoru holdings and he kind of commented that it was the right timing and it will pay off soon was his belief.
Sorry i couldn't get more feedback in the 30 mins. Again --- shoot Sandeep an email if you have other legitimate questions.