Wti Oil Etc Discussion Threads

[chinese investor] 25/11/2015 09:14

A Dog With Fees !

Greenroom78 (WTI) 16 Dec'10 - 14:10
Professor Pinocchio - Do you have a 9.5p buy limit or is that your maximum average you are prepared for (i.e. some above 9.5p as long as your average is less)?
Also what about dealing costs are they charging you a set few regardless of how many tranches they get them in?

Professor Pinocchio (WTI) 16 Dec'10 - 14:59
greenroom78 - no I did set a limit of 9.5p, hopefully he may be able to finish that off today, as I notice the share price is ticking up.
Now have 835,000 so about 1.7m to go.
If not today, then by the close of play tomorrow.
Agreed a flat fee of £1,000 regardless of the number of tranches.

[michaelsadvfn] 25/11/2015 08:48

Well done Prof!!

Professor Smelgy - 22 Dec'10 - 22:04 - 4571 of 6917
............I have been topping up quietly today, and have purchased an additional 500,000 at under 11p.
To add to the 2.5m purchased in tranches last week. I hold 3m.

Professor Smelgy - 12 Jan'11 - 11:39 - 5352 of 6917
............by the way went in for a further 50,000 this morning.
Now holding just over 3.2m.

OUCH!!

[mattjos] 25/11/2015 08:44

Can't imagine anyone could be found to support it. More likely Orion will simply take ownership

[sleveen] 25/11/2015 08:36

Placing cometh.

[888icb] 30/10/2015 11:56

a little bit of interest here this morning up 12%

[ashbox] 13/10/2015 13:59

Understandably not much punter interest here these days, however, todays update reads well from an operational point of view. I guess its the financials that are still of concern.

[ntbb] 09/10/2015 12:19

Copper price recovering nicely

[leedskier] 15/9/2015 07:13

So does this morning's RNS indicate that there is no imminent risk of insolvency?

[mattjos] 14/9/2015 22:00

looks like Acid for Tschudi leaching is now coming in by truck, as originally planned, from DPM. Lets hope they negotiated hard and secured the supply at same or better rates than the initial temporary supplier.

[dropside] 14/9/2015 19:33

Good they have bitten the bullet and closed off the losses on Central Ops. No indication of the costs to close this though.

Tschudi progressing well with production ahead of the originally declared plan. Again, it would be good to have the costs of production confirmed.

[leedskier] 14/9/2015 16:54

There are far too many middle aged CEOs attempting to run Aim listed overseas commodity operations from their central London offices.As you say this company is already benefitting from a locally based CEO.

[mattjos] 14/9/2015 09:31

The new CEO demonstrating he has a far better handle on the operational aspects of the business, being based in Namibia, than the incompetent Webster ever demonstrated.
Hopefully they can deploy some of the CO staff to Tschudi.

[leedskier] 14/9/2015 08:58

An indication of the crazy valuations on Aim.

[apfindley] 14/9/2015 08:50

Of interest to weatherly shareholders is GWMO, who are proving up a massive copper deposit in Nevada. Mkt cap Only £1.4m with almost that as cash in the bank.

[leedskier] 14/9/2015 07:20

Those who have called for the suspension of Central Operations should be hay this morning.

[leedskier] 07/9/2015 07:53

Will this help?



7 September, 2015

African Copper - Operational Update

Glencore notes the announcement made by Katanga Mining Limited (Katanga) on 6 September that the Management of Katanga has commenced a review of its business, including operations and expenses, in light of the challenging environment for commodities. A similar review at Mopani Copper Mines (Mopani) has also commenced.

This will include the suspension of production at Katanga and Mopani for 18 months up until the completion of the expansionary and upgrade projects. This includes the whole ore leach at Katanga and the new shafts and concentrator at Mopani. A suspension of operations will remove approximately 400,000 tonnes of copper cathode from the market.

The expansionary and upgrade programs will provide a material reduction in overall operating costs at both operations. Once complete, the programs are expected to reduce C1 costs at Katanga and Mopani to c.$1.65lb and c.$1.70lb respectively from more than c.$2.50lb today. Glencore will continue to fund the expansionary and upgrade projects at both operations.

Mutanda Mining continues to perform well, producing above name plate capacity at a C1 cost of $1.33lb.

[longsight] 05/9/2015 21:03

The NAD: US$ rate used in the Coffey costing of Tschudi was US$8.65.

95% of costs appeared to be contracted in NAD just 5% approx. in US$.

I calculate on a like for like basis C1 cash cost at Tschudi wd now be approx. US$2800 - obviously there have been additional costs though [i.e. the initial start-up issues].

[pedro57] 04/9/2015 20:18

USD/NAD exchange rate is pushing 14.0 almost 25% below 10.5 used in the updated financial forecasts. Does anybody have a view how beneficial this is to the Life of Mine Breakeven cost of $4,675? The weakening exchange rate could really help the project economics of Tschudi.

[mikeja] 22/8/2015 07:48

Absolutely agree on the management,Matt,but my point was for investors in resource companies. I learned it at considerable cost from TMC investment in 2008.

[mattjos] 21/8/2015 14:23

mike, that assumes that management have a clue what they are doing Operationally - the track record is not persuasive. Looks most unlikely now that they will even have the cash on-hand to fund the redundancies that they need to be making by closing Central Ops, hence the rabbit in a headlight stance as price of Copper continues downwards.
Tschudi might limp on, assuming Orion remain committed and want the Copper for the long term but, there is no guarantee .. my bet is this will fall to a private equity/Orion collaboration for circa 0.05p, once the company announces it is skint,unable to raise any further funds & recognizes that the current equity is valueless.
They will argue that it is all the fault of the price of Copper but, most anyone will recognise that the poor management set this on its journey to oblivion with egotistical decisions they made a long time ago. Webster & Bryant are the chief culprits .. quite what the hell Stavrakis is doing on the Board is beyond me. These non-execs are an utter waste of time and in particular money. Do they ever actually open their mouths and question the stupidity of the Exec Directors? No, because to do so would immediately rob them of the 'turning-up' money they get from here and other such positions.

Company need to get on with now and start the consultation process with Central Ops staff

[mikeja] 21/8/2015 13:17

What the management should have done was to hedge their copper.They did some but had to close it out way above this through lack of liquidity.If the management won't do it you have to cover yourself,as I have suggested before.This company is just not viable at current copper levels.

[leedskier] 19/8/2015 20:07

Bloomberg - Glencore CEO: China Is a Lot Weaker Than Anyone Expected Read the part about the Chinese Hedge Funds shorting copper.

[mattjos] 19/8/2015 08:46

Longsight, that is virtually an irrelevance, as I am sure you appreciate.They have not got the cash to keep funding the losses that they are incurring right now.The financial model needs changing - fast!All extraneous costs need to be culled immediately .. The stupid old duffers on the board & the London office are extraneous to the actual business of mining and producing copper in Namibia.

[longsight] 18/8/2015 21:04

Your analysis ignores the fact that most of their costs are incurred in NA$.