W Resources Share Discussion Threads

[bscuit] 05/10/2017 21:24

Frankly I'm a little annoyed. I have taken part in 4 placings with TP [or Cornhill] and currently hold well into 7 figures. i wasn't asked if I wanted to join. But worse than that - they say a week is a long time in politics and so it appears in business. Consider this statement from the half-year results released 27.09--

" Significant progress has been made on financing for the next development phase, to achieve 2.0mtpa ROM and 2,700 tonnes of tungsten concentrate production, with the updated target debt financing increasing to US$30m, which is expected to allow W to remove the equity financing component.".

I feel misled.

Since there is no mention I assume no warrants attach?

[marvelman] 05/10/2017 14:24

Cpap man...no problem with your views which I respect.good luck to you though and fingers crossed no more placings....regards

[cpap man] 05/10/2017 11:10

SP Angel MN's



W Resources (WRES LN) 0.4p, Mkt Cap £19.3m - £1m equity raise

The Company closed a £900,000 fund raising at 0.375p with further £100,000 expected to come from a party connected with one of the Company’s directors.
Funds will help to continue development of the La Parilla project including advancing crusher construction and civil works, progressing with long lea items and covering general working capital requirements.
The team is also moving forward with negotiations on potential offtakes covering future T2 project production.
The Company secured a Letter of Intent with one party and expected to have another LOI with the second potential customer shortly.
Two parties are estimated to cover 80% of planned output with the Company expecting to convert LOIs into formal contracts in Q4 that should help discussions on the proposed $30m project financing package.

[cpap man] 05/10/2017 11:08

Sorry marvelman but on that point we will have to disagree....the placings are now finally coming to an end with debt facilities and production in sight!

[johnweaver] 05/10/2017 11:01

Marvelman post 11,621 and others

It is not the answer to being friend or family, but it is possible to get in on the placings. Just open an account with Turner Pope who did the placing and took some shares in-lieu of cash. They will sell to anyone willing to commit £5k or more. I did.
GLA

[idandy] 05/10/2017 10:52

Initiate steps to allow early production start if current high European Ammonium Para Tungstate prices are sustained

Could this hint at the possible return of the portable crusher to make a bit of cash?

[sleveen] 05/10/2017 10:29

tyranosaurus

no great secret; look at current liabilities v current assets , add in the G&A cash burn and ask will more cash be needed in the short term.

In case of WRES the answer was yes.

This placing should see WRES thru' to further news perhaps even funding. Pretty good news on off take LOIs today.



Now that's over I've bought a few @ 0.3812p.

[marvelman] 05/10/2017 10:17

Sweetnodude....Not much comfort for those not in MM's circle of friends who have been buying at 45p recently

[sweetnodude] 05/10/2017 10:12

More often than not on small caps the share price drops on news of a placing to around the placing price so you will normally get the chance to participate in a roundabout way...

[marvelman] 05/10/2017 09:58

Yes indeedy.My post 11614 in response to Barony,s description of just a "tiny" placing was therefore spot on. Masterman cannot change his ways and will continue to issue placings even after the finance is raised because he and his mates can always buy in to the company at these discounts while the PI's pay the price.

[tyranosaurus] 05/10/2017 08:36

Well done sleveen

Another placing, £1m at 0.375p.

[sleveen] 30/9/2017 14:54

Net current assets of £200k enough for 3 months G&A (@£60k/mnth)

That takes us to the end of September 17, expect a placing soon.

If MM can puff up the share price soon with good news to say 0.5p then a placing at 0.4p (to raise say £700k) might not be so bad.

[bscuit] 27/9/2017 23:39

Last placing was the real chance, which I took and it had 1:1 warrants at 42 with 2 year validity, so future funding will probably come from there with good news.

[photon] 27/9/2017 13:05

"updated target debt financing increasing to US$30m, which is expected to allow the Company to remove the equity financing component"

[barony] 27/9/2017 09:20

You're out for such a tiny transaction? You can't have been really "in". Still a very good bet for me.

[sleveen] 27/9/2017 09:19

I suspect a larger share issue is required soon.

[marvelman] 27/9/2017 09:11

Another fund raise, another overhang....I'm out

[wilburylover1] 25/9/2017 16:28

quite interesting chat

[barony] 25/9/2017 16:13

Good rise today. Hope it is sustained until the anticipated good news.

[barony] 25/9/2017 13:54

Any good stuff from last week's investor presentation?

[wilburylover1] 20/9/2017 14:44

Agree on that Marvelman not the RNS we need

[sleveen] 20/9/2017 14:43

Or fund raise for working capital required?

Note I said working capital (not project)

[denjon] 20/9/2017 13:11

Feel the MMs are trying to hold the share price down; possibly/hopefully for a big buyer...