James Marlay

I have written a number of wires following the progress of WDR which as of Monday is Australia's newest iron ore producer. The Company has commenced delivery of its' first DSO iron ore product following the official mine opening earlier this week. Investors include high profile names like Scott Perrin (former Billabong director), pub baron Bruce Mathieson, Rick Allert and Roger Corbett who head an eclectic register surprisingly absent of institutions. Allert believes the mine will generate enough cash to fully pay back all its debt within 12 months, leaving the group in a strong position to either return cash to shareholders or push ahead with a more capital-intensive expansion. At a time when capital was scarce the Company has been able to raise debt and equity to build the NT based operation. With plenty of skin in the game expect directors to work tirelessly on WDR. (VIEW LINK)


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