Wti Oil Etc Discussion Threads

[mattjos] 08/6/2015 15:59

I agree with your point re where the placing price had to be to prevent Orion going over the 30% mark & thereby being obliged to bid for the whole outfit.

Whether or not the new CEO has to do a bit of housekeeping on the books remains to be seen .. he seems predominantly a technical type person rather than an accountant but, that is not to say that Webster did not left a mess behind that needs sorting.

Until such time as more definitive data comes out from Tschudi and they make a decision on Central Ops, this still looks to be subject to buyers strike. They could use the RNS from tomorrow's meeting to slide in some optimistic news ... they have to pay for the RNS either way but, I am guessing it will be a statement of fact re the meeting only.

Big uphill battle for the new CEO to ever inspire a shred of confidence in the company & its ability to get anything right operationally

[jdwag] 08/6/2015 14:16

I am not too worried about the current share price as it is being down on negligible volume well below 1% a day on trade, there only seems to be sellers about at the moment so this is only going to go one way and that is down, there is actually few shares out in public hands as the IIs have most of these locked up so swings up and down with be exacerbated as a result.

Mattjos may be right in as much as Logiman is ‘averaging down’ however Orion certainly aren’t, they obviously think that the best way for them to get their Loan and Interest back is to use WTI as the vehicle for this and make a few quid on the shares going up as a result. Plus, they are ‘insiders̵7; as they will now have the right to put a board member on to WTI’s Board, if that isn’t an insider who knows what is going on then no one is!

As for 2p placing price? I actually tend to think that WTI Management and Orion decided that WTI needed ‘X’ amount of money to insulate themselves during the ramp up and make the first payment of $2.25m (plus Libor plus 6%) and so that actually came first and then the price was settled on to fit. Also, if Orion went for a placing at 1p for example then they would have sailed over the 30% mark and have to by rights bid for the company (I am guessing they don’t want to own WTI outright). As such I would like to think that WTI Management and Orion have made sure there is enough Cash on the books to get through come what may during ramp up, and that means if Copper continues to come under price pressures.

As for Central Ops, if it came under pressure then I am guessing Orion would just have it mothballed, so I am not too fussed about that either.

I have been adding since this came out of suspension and have nearly doubled my holding, simply because the risk / reward he is tremendous, if this works it’s a massive multi-bagger, if it doesn’t well, investments can go down as well as up.........The Q2 Update in 4 weeks time or so is all important, I obviously think it is going to be much better than folks think and the share price will react suitably.

JD

[longsight] 08/6/2015 13:21

mattjos, I await further updates & info from the Co. imo the last one suggested things are not as conclusively kapput as you spin it.

[mattjos] 08/6/2015 12:42

they are hardly insiders longsight. They had little choice but to average down on the investment else, watch it go bust.
Those that still believe can now buy in at a 50% discount to this latest placing but, how long until the next dilution as the company 'explores ways to recapitalise Central Ops'?

[longsight] 08/6/2015 11:02

hello, it's me "the evil ramper"!

I'd be interested to hear the views of those selling at 1p. As I understand it, the placees have given irrevocable undertakings. So subject to EGM resolutions passing tomorrow then a lot of insiders will be piling in at 2p a share.

Who is right on this? the sellers at 1p or the insiders buying at 2p?

[mikeja] 02/6/2015 10:59

You could hedge by selling copper in market.Did this when I was in WTI,managed to scramble out at break even but made good money being short copper.

[mikeja] 01/6/2015 12:39

Squid targets $5200 as copper target for 2016.Chinese demand to halve on aluminium substitution for copper

[longsight] 01/6/2015 12:10

so - explain

[augustusgloop] 01/6/2015 11:49

Yet they choose not to buy at 1p now!

[longsight] 01/6/2015 11:30

assuming things go ahead then by Tues a week the insiders will be piling in at 2p a share

[augustusgloop] 01/6/2015 11:20

If the value was anything like what they made it out to be, the insiders would be pilling in at this MCap - but they aren't.

As with all these AIM shares - big on promises, pathetic on delivery of profits.

[longsight] 01/6/2015 07:10

or "I'm not paranoid - it's just that they are out to get me"

[mattjos] 01/6/2015 00:36

It is not necessarily Weatherly or Webster or GT that are the scammers .. It is the AIM market that is the stinking, rotten scam. AIM is the corrupt system that legitimises the mechanism by which money is extracted from the market participants and transferred to the spivs.All these folk have done is play the system .. The govt allowing AIM into ISA's has merely emboldened the spivs because there is now even more to go at ... And it's easy money. So easy. It's laughable. They can be as overt as they please .. There is no risk of prosecution, no risk of penalty. They just need an entry ticket, via a listing and then the fruit machine pays out .. Over and over and over again. When it runs dry, they simply fail to provide accounts or admit the cash is all gone. The play folds and they move on to the next stunt. The market makers, the nomads, the accountants, the advisers .. All of them profit from the scam and so none of them will do anything to jeopardise it .. they simply compare 'takes' over Friday beers and lot the next week's take

[mattjos] 01/6/2015 00:20

Orion will earn Libor +6% for years to come .. That is a terrific return in a low interest environment .. And then they will also take the Copper .. A metal that they trade both ways with in the market.Sweet deal for them .. and now they are at 29.9% of Weatherly.They only need a flea of shareholder to act in concert with them and they own the lot - unchallenged.Do we see any of the remaining directors buying in now at 50% to the placing price? Of course not, they know it's over and a daft move to put any % of their last few months salary into the equity.

[longsight] 31/5/2015 10:24

I never ramped WTI. That is your game a*rsehole. e.g. Plus500 - one of yours I believe - & despite my reminding you about worldspread - no fool like an old fool as they say

[jdwag] 30/5/2015 22:36

Sorry, 6% plus Libor.

JD

[jdwag] 30/5/2015 22:25

The interest rate on the loan is 7% plus Libor, where on gods green earth have you pulled $8m interest per annum from?

JD

[longsight] 29/5/2015 08:07

Explain why Logiman subscribed - almost £3m worth in total to date. Yet they have been paid & have no further involvement at Tschudi having completed their EPC contract?

You have zero credibility after ACTA

[jdwag] 28/5/2015 23:48

Mate, what on gods earth are you about? I take it you are a heavy drinker?

JD

[mattjos] 28/5/2015 21:11

They have not yet got the placing away even.The smell of Webster & his untruths still too strong here to justify buying .. There remains the strong possibility that any funds raised will merely be sunk into monthly losses at Central Ops rather than produce any return whatsoever.Added to that the total lack of clarity as to what is going on with the Tschudi leach process, a new CEO (who is likely to want to kitchen-sink Webster's influence on the balance sheet and P&L) and who knows what yet to emerge .... Still too early to buy is the market assessment