W Resources Share Discussion Threads

[eggbird] 20/1/2017 14:39

Bounce time!!

[trotterstrading] 20/1/2017 14:38

Some good sensible posts on LSE, unlike some of the numpties on this BB

[joeblogg2] 20/1/2017 13:56

The only winner here will be MM, long term shareholders continually let down with placing after placing :((

[cinques] 20/1/2017 13:28

He's a realistic one, but the look of it.

[idandy] 20/1/2017 12:45

Sleveen - are you a share holder here ?

[sleveen] 20/1/2017 09:40

RNS 16.8.2016 Gives the impression (to say the least) that the crusher has been funded and yet yesterdays RNS shows that it hasn't.

"CD Alloys and Metals has provided a forward sale contract facility for USD1.2m and $200,000 of this facility has been paid to W Resources to date. In addition, W Resources and ICD Alloys and Metals have reached a non-binding in principle agreement to provide equipment finance for the La Parrilla crusher at a value of USD2m and evaluate funding for the full project to 1.95mtpa / 2,500 tonnes of tungsten concentrate.

As part of the financing, tungsten sales will be contracted to one of the largest US tungsten processing companies.

Initial mining, plant commissioning and tungsten concentrate production and sales to customers are expected to commence in Q4 2016 using the existing on-site plant and facilities at an initial rate of 400tpa. Installation of a new crusher with the capacity to process the full 1.95mtpa / 2,500tpa production has been brought forward with this financing and is expected to be operational in early Q1 2017 with the remaining plant infrastructure on schedule for installation by mid-2017."


Yesterday's RNS

"Significant progress has been made on financing for the next development phase at the La Parrilla FTM mine to achieve 1.95mtpa ROM and 2,500 tonnes of tungsten concentrate production. Terms have now been agreed with leading vendors for the financing, supply and installation for two of the three core equipment packages: the Crusher and the Jig / Mill Plant.

It is expected that vendor finance of 50% will be provided on the Crusher and the Jig / Mill Plant and formal contracts are expected to be awarded in the next month. For both of these equipment packages, W has applied for grants from the Extremadura Regional Government in Spain for between 20% and 30% of the value of this equipment. W will also apply for grants for the third core equipment package, the La Parrilla concentrator. Arrangements for the financing of La Parrilla are advancing well and are expected to include a convertible note to fund the balance of the plant packages"


How can you make an investment decision based on information like this?

IMHO

[sleveen] 20/1/2017 09:36

Now that the shock of a convertible is out of the way, expect a drift to 0.2p over the coming weeks.
IMHO

[sleveen] 20/1/2017 09:34

How many of these proactive/BRR etc has MM down over the past 2 years...loads.

You have to listen very carefully and not over interpret what he says.

It's what isn't said that you have to think about.

Listen very careful when a sentence starts with "well look...."


See my next post.

IMHO.

[sleveen] 20/1/2017 09:13

LMDP

Rinse and repeat.

[sleveen] 20/1/2017 08:57

Guess what.

W had a placing to pay Bergen off.

[sleveen] 20/1/2017 08:56

Likewise

W Resources PLC

16 October 2014

W Resources Plc

W Resources secures up to US$2.8 million investment by way of a convertible security and a private placement facility, with an additional placement facility of up to US$4 million, to fund growth over the next 12 to 24 months

W Resources Plc ("W" or "the Company"), the tungsten, copper and gold production, exploration and development company with assets in Spain and Portugal, announces that it has entered into a share purchase and convertible securities deed (the "Deed") with Bergen Global Opportunity Fund, LP ("Bergen"), an institutional investment fund managed by Bergen Asset Management, LLC, a New York asset management firm. The Agreement allows for the issuance by the Company of zero coupon convertible security for an initial amount of US$800,000 immediately, and up to a further US$2,000,000 in ordinary shares of 0.1p per share ("Ordinary Shares").

[sleveen] 20/1/2017 08:49

A blast from the past TWO YEARS AGO..

Look at what they're doing with the money...advancing Stage 2.



20 January 2015

W Resources Plc

("W" or the "Company")

Placing to Raise GBP1.4m

W Resources Plc (AIM:WRES), a tungsten, copper and gold mining, exploration, development and production company has completed a placement of 466,666,664 ordinary shares of 0.1p per share ("Ordinary Shares") at 0.30p per Ordinary Share to raise approximately GBP1,400,000 million (the "Placing"), before expenses.

Application has been made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM which is expected to occur on or around 26 January 2015. The funds raised will provide working capital to progress the development of Stage 2 of the La Parrilla fast-track mine and the Régua mine.

[trotterstrading] 20/1/2017 08:45

MM interview on ShareTalk, he puts much more meet on the bone to yest RNS. Will bounce hard when the interview is published later today IMO

[trotterstrading] 20/1/2017 08:33

Lol. Sleeven bailed again at a loss. Pmsl

[sleveen] 20/1/2017 08:30

Yep I was wrong to post that the support had held around 4pm.

Clearly it hasn't now.

This is a very bad sign.

0.2p is coming.

[sleveen] 20/1/2017 08:28

If you're going to average down, you'd be better off waiting till it hits 0.20p.

That's where its heading.

Look at previous RNS's where the funding for the plant was via vendors, which gave the impression that 100% funding was available.

That's not the case is it. There hoping to get grants and issue a convertible loan note.


Look what happened when Bergen were involved!!!

[trotterstrading] 19/1/2017 21:21

Could hit .40 mid before a healthy bounce IMO. I've Read the RNS several times, oversold IMHO. Buying more tomorrow on any further weakness

[trotterstrading] 19/1/2017 16:34

Lol @ sleeven bought in for a trade looking for a bounce to offload.

[sleveen] 19/1/2017 16:09

cp

In addition to the above post, the support level appears to be around current sp, which seems to be holding.

Dare I say that is, or might be interpreted as, a good sign IMHO.

[dr jekyll] 19/1/2017 12:38

I sold a few this morning and stuck the cash into GUN. However, I see this as very well run company and I can see it doing very well this year. If I get any decent profit elsewhere I will be putting some of it in here.

[mrs robinson] 19/1/2017 12:13

Sold some and brought again Net result increased my holding Happy days

[sleveen] 19/1/2017 11:52

I post as I see it.

Looks like a lot of investors agreed with me judging by the share price fall.

If the buyers return perhaps my judgement of fair value is correct?