Wheels Group Inc GRFJF

SLow times for WGI

[stocksnbonds]

Too bad there is such a vacuum of news for the stock. Looks like this gold play will have money parked in it for a few months still. When the PRs begin regarding the mine becoming operational, the stock will move. Not much else will get this going in the short term . Wait and see..............

[babedinkleman]

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[stocksnbonds]

I'm underwater by a considerable amount. WGi will come up. I have no doubt. I just didn't think it would be so much closer to the actual start of mining.

[babedinkleman]

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[stocksnbonds]

No contracts/planned contracts will be hedged. Call the firm. Production is planned for 2008. They have no gold sales to speak of. All gold will be sold at market prices. You can talk to the firm about the way they calculate market value. DO your DD by calling the firm and not relying on a BB. They're good people to talk to. I find it odd that you are even talking about hedges

[littleguy21]

On March 30, 2007, the Company entered into a new term loan facility with Investec Bank (UK) Limited under which the Company will be able to borrow up to $105 million. The availability of funds under the term loan facility is subject to certain conditions, including entering into an acceptable gold hedging program for approximately 450,000 ounces, the resolution of certain ancillary agreements and

[stocksnbonds]

Littleguy, thank you for the post. I missed that entirely. I went back and read the details. Go figure, I thought the prices would be sold at market value. Regardless, if the hedge is at current prices (in theory) the price more than gives WGI a nice guaranteed profit which is what the financial institutions want. If the price of gold rises, I'm assuming the hedge level will also rise

[babedinkleman]

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[littleguy21]

Your both welcome. I just happened to be doing my dd and was excited about this stock until i got to the hedge part. I think you took the words right out of my mouth babedinkleman as now that i've read your last message were on the same page. 3 years hedged when i don't expect to see gold go down in price at all. Dosen't mean we can't make money on this stock. Just not as much

[loantech1]

Hello Babedinkleman, About what time was the commentator on BNN discussing WGI? I live on the west coast so are you using Toronto time? Thank you, Tom

[loantech1]

Littleguy or any others can someone provide aspecific time WGI was mentioned on BNN yesterday? Many thanks.

[appistappis]

it was alex ruus....hugh's partner.....it must have been in the first 12 minutes of the show as I saw the rest and it wasn't mentioned

[babedinkleman]

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[babedinkleman]

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[loantech1]

Yes same firm and the mention of WGI was at 10:50 into Alex's commentary. Thanks to all for the help. Turning out to be a pretty good board here.

[shambano]

Alex mentioned WGI a couple of times actually and it also came up when has was answering a question about a gold company in Ecuador. WGI has no political risk with a mine in California and they will more than likely get bought out at some point b4 they start producing gold as their valuation is very good, or that's what I heard anyhow. No mention of hedges however. Cheers and GLA

[thedave2006]

northern rivers stocks grtting hit....dave.