Wti Oil Etc Discussion Threads

[soulsauce] 08/5/2015 14:17

Yes mally the 2p price gives one hope and should help hold the price up towards that level.

[mally6] 08/5/2015 14:11

well logiman increased holding as well as orion buying at 2p,just says it all

[soulsauce] 08/5/2015 13:51

Well we should all be relieved that the worst has not happened, that being the the company going to the wall, and instead Orion & Logiman are coming on board to make this a success.

At least now come Monday we can get hold of our money or hold and see what the new board can do to grasp success from the jaws of defeat, I think most holders will do the latter.

[danieldruff2] 08/5/2015 09:47

The usual horror story at Central Ops I see. How can they justify keeping that open?

Despite all the info today there is no clue as to what the cash cost is at Tschudi. It's bound to be variable for the next 12 months but without a number there is no way of knowing what range of copper prices are supportive of the company. Quite high, I suspect!

[leedskier] 08/5/2015 09:37

Re-admission to trading on AIM

With ongoing financial support from the Company's major financier, Orion Mine Finance, having been re-affirmed, the board of Weatherly has sought the restoration of trading on AIM of the Ordinary Shares. The trading of Ordinary Shares on AIM is scheduled to recommence at 7.30am on 11 May 2015.

[113mike] 08/5/2015 08:59

When will the shares trading again?

[mattjos] 08/5/2015 08:51

Yes, good bye RW and at last a CEO who is based where the company operates & has no need for a flashy, expensive London office suite.The absence of sparkling adjectives re. RW's contribution best sums up the mood.Providing Craig proves a competent operator, the worst should now be over.One assumes the mgmnt change was conditional on the funding arrangements. From memory, Craig bought quite a lot of stock from his own pocket when he joined.Still plenty of challenges ahead, not least Central Ops. Let's see if Craig has some other ideas how to manage that.Actually looks like the main stakeholders are determined to see this succeed in the long term

[here and there] 08/5/2015 07:26

money raised at 2p , a premium to the closing price of 1.6p.

A clear plan, looks like the worst is over.

Bye bye RW…..had to go really

[soulsauce] 08/5/2015 07:24

Well better than we all hoped for as most of us never thought they would trade again and Webster standing down - result!!

[113mike] 08/5/2015 07:22

Whats the impact?

[113mike] 08/5/2015 07:19

Is this good news?

[leedskier] 08/5/2015 07:09

Management and Board Changes

Rod Webster will be retiring as CEO of the company effective 30 June 2015 and returning to Australia. He will continue to work with the Company as a non-executive director as Tschudi builds to its full operational performance during 2015 and in a development role.


Re-admission to trading on AIM

With ongoing financial support from the Company's major financier, Orion Mine Finance, having been re-affirmed, the board of Weatherly has sought the restoration of trading on AIM of the Ordinary Shares. The trading of Ordinary Shares on AIM is scheduled to recommence at 7.30am on 11 May 2015.

Admission of Subscription Shares

The Subscription Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing ordinary shares, including as to the right to receive and retain all dividends and other distributions declared after Admission.

Application has been made to the London Stock Exchange for Admission of the Subscription Shares. It is expected that Admission will become effective and that dealings in the Subscription Shares will commence at 8:00 a.m. (London time) on 8 May 2015.

Following Admission of the Subscription Shares, the issued share capital of the Company will be 949,136,471 ordinary shares of 0.5 pence each in the capital of the Company.

[waspfactory] 06/5/2015 16:02

Very good basquinth, made me chuckle at the thought :)

[basquinth] 06/5/2015 13:56

yea, I imagine Orion's got them all out there on the shovel digging through the 30 Metres of useless crud.

[here and there] 06/5/2015 09:46

no point putting out an RNS until they have something definitive to say

considering what is at stake and considering how many shares management own, they must be working their socks off

[waspfactory] 06/5/2015 09:38

Admire your optimism h&t, and thanks for the post. It would be nice if the company issued an update for shareholders, the lack of information given the severity of the situation is lamentable.

[here and there] 06/5/2015 09:29

had a chat with the company. they obviously revealed nothing. we will get a full update in May and I believe, reading between the lines, that we will come out of suspension at the same time….though don't hold me to it!

it makes sense. get the mine sorted, get the finance sorted, copper price up, big announcement to reassure everybody, come out of suspension…230;crossed fingers!

[mattjos] 05/5/2015 17:27

copper has pretty much gone up from the day the stock was suspended .. circa 15% increase.
Now virtually 3 months since they suspended the stock & surely time to have stripped away to more productive levels of ore. One assumes that in that timeframe they have continued to run ore through the plant, if only as part of optimising the set up.
It's really about time they updated the market now with something more tangible

[danieldruff2] 04/5/2015 07:51

I think that number is outside of the unforeseen events which happen at Central Ops nearly every quarter, didn't they blow out to $8000/t one quarter? Realistically they need $7000 for Central Ops to be overall profitable IMO.

The unknown is what will be their breakeven copper price for Tschudi cash cost + loan repayment. I suspect the loan will have to stretch out for the majority of the mining period to bring it under $6500, let's see.

[888icb] 03/5/2015 23:58

The company said central ops would be cash flow neutral at $5800 so at $6400 it should be cash flow positive. Let's hope the copper price continues to move higher.

[mikeja] 01/5/2015 16:03

pedro,you are forgetting top management as well

[pedro57] 01/5/2015 15:22

Thank you for the responses; surely a copper price pushing $6,500 has to be a good development, for the first time since Sep 2014 we are above the 200-day moving average. Fingers crossed that strength holds and maybe even continues. I hope the renegotiation follows the blueprint of previous Orion (Red Kite) talks in late 2013, where there was radio silence for a long time on how loan negotiations were going; only for there to be a sudden RNS announcing successful conclusion of loan talks. I struggle with the strength in copper prices, a continued weakening Namibian Dollar and a supposed game changing Tschudi with 17,000 tonne annual production (main contractor believed in this project so much they took a 13% stake in project buying shares again prior to suspension) how WTI cannot come good...

[here and there] 01/5/2015 13:22

think you have to let them try and solve the problem. if we had been trading the share price would be under .5p. when we resume trading, it will be in conjunction with a solution which should stop the share price from collapsing.

management are major shareholders

with the copper price improving, re-negotiating debt payment schedule will be a lot easier

[mattjos] 01/5/2015 12:55

pedro .. all very valid questions but, I suspect no one can presently answer them due to the company's continued silence.
Any attempt at communication with them is handled by the office junior and you are directed to some PR company so, they seem to have absolutely no desire to communicate with their shareholders.
There is no near-term AGM at which investors can grill Webster and they have omitted the scheduled April Quarterly production update even for Central Ops.
One hopes the office move was achieved with an overall annual saving to the company.

Investors are being given the 'mushroom' treatment at present by the Directors.