Re: Fielding Questions!!!
in response to
by
posted on
May 14, 2009 11:13AM
Engineering, procurement, construction & management of crude oil refineries.
Ok Rarebird... I am going to ignore your insulting and be professional here...
I apologize if you misunderstood my answer.
For WWF to get any serious money, either from Libya or a major bank, they require a full Feasibility Study (Bankable Feasibility Study) from what I recall at the AGM. Now that requires $300k which WWF needs to raise. To do that they either need to approach a bank, a major shareholder(s) or private lenders. We know banks wont lend money out to a Junior company so that leaves shareholder or private lender. Private Lenders will require collateral, which we know the company at this time does not have (unless something has changed but we will know that once we have seen the FS). However Rarebird if you have a private lender that will lend with no secuirty please call WWF for I know they will take it.
Now for them to reach Shareholders they need to do a P.P, correct? To do that when you are halted you need the approval of the BCSC to do a P.P while halted by them. Aslo it is hard to get people to put money in a company that is halted. However If I am correct we got a partial lift to do a P.P which Roy and MF did a great job and the funds went to pay auditors and accountants and lawyers but not enough to cover a Feasibility Study.
From there comes the issue that was raised, how can we get another $300k? Well I answered probaby not till we are trading for MF and WWF will need to do another P.P to cover it, unless WWF has other sources which they have not mention but if they did they would have already gone forward with it.
I hope the above response is clear to the question.
VK