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Weatherly International Share Discussion Threads
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|as regards "only buy a miner when they are making money" then it depends on your risk - reward appetite .... I tend to go for minors that have some proven resources but are not yet profitable - but look as if they will succeed in the end and become profitable to the benefit of their shareholders - so competent and straight-forward management also required ..... I do avoid the blue-sky companies that are still at the permit / feasibility study stage. Also avoid miners that keep 're-launching' themselves with changes of name. I'm happy to hold WTI pending further developments with their mine and with the price of copper .... CAF is a side show and I would not invest in that directly - but it makes an interesting sideline to follow ....|
|WTI is proof of the old adage "only buy a miner when they are making money".
People that get in at the early stages are promised massive returns -- I have never seen this achieved.
But I have seen many, many examples of shareholders suffering complete losses - then if the asset has any value, somebody else picks it up.|
|Only 5-10% of mining companies have anything in the ground but you can buy 100 baggers from here - Doug Casey
|Indeed .... it does look like WTI could be a suitable investment if copper rises as groundwater issue does seem to be under some sort of control ... ....|
|Watching from afar How can other miners live with this copper price. Unbelievable|
|Life in the old dog yet?|
|Its all go here!|
|No news for us yesterday, but some in the City clearly knew.Good news on the rescheduling given the price of copper.|
|Good start to the week UP 19% on no news and volume 822000|
|Gold shone at $1,365.9 per ounce and copper climbed 0.8% to $4,894.43 per tonne.|
|Well the copper price has risen quite a lot over the last few weeks and is now just shy of $5000.
Orion own 22% of the company.|
|Yes Mcfly's earlier post regarding a possible repayment issue seems to have have been quite accurate.
I noticed the lack of reply to the points he raised, whereas everyone was focusing on "$26 million pa profit" whist disregarding the capital and interest repayments!
"Orion has the right to buy up to 700 tonnes of copper cathode each month at a price of US$5,000 per tonne "
But not the obligation!|
|the groundwater is just one of those things and should be fixable as far from uncommon in mining but, I assume the necessity to power pumps from now on will add to the C1 costs going forward, after some CAPEX now.
About time the old duffers and hangers-on were culled out from the Board so, whilst well overdue, that's a good thing and there will be others to get shot of also, imo.
The dispute with Logiman is the more complicated development. Logiman are only a shareholder as a consequence of Weatherly's need for cash. Not a good idea to mix the salt'n'pepper in this way so to speak. The company should be free to manage its contractors as is necessary but, Logiman's shareholding muddies what should be an arm's length commercial relationship.
Even if the dispute is resolved through mediation, it will have permanently damaged the relationship.
The new CEO is doing his best but, remains hamstrung by the poor decision making of his predecessor.
Unless Copper firmly breaches $5,200 and remains above that level they are going to remain stuck in survival mode.
Looks like this will remain friendless for at least another 9-12 months in the market|
|Update about as dire as it could be, mining problems, repayment problems and a hand grenade thrown in at the end regarding a dispute with Logiman. A significant rise in copper price needed to ensure any kind of future here imo.|
|"Weatherly has announced that it has concluded a formal agreement with Orion Mine Finance to further defer the start of its debt repayment until February 2017. Thereafter, each repayment will be increased so that the debt is cleared by February 2020. In exchange for agreeing to the deferral, Orion has the right to buy up to 700 tonnes of copper cathode each month at a price of US$5,000 per tonne (copper is currently trading at US$4,630 per tonne)."
finnCap's note from today, up on research tree|
|They can't afford to repay their debts on time - the only good news is that Orion have agreed to extend the time limit. I guess they had no choice.|
|good news me thinks|
[with apologies but I do think Mobius is OK guy]|
|They've moved up near my neck of the woods - so any shenanigans and I'll be right down to the office!|
|yes, that's a much more sensible location for the company to reside in. Craig is again proving he is a pragmatic & cost conscious operator|
|Good to see the new CEO is reducing costs in the UK too.he really seems to be focused on getting the firm on sound footing.|
|A good start to the week|