W Resources Share Discussion Threads

[plat hunter] 21/9/2018 10:50

Jaf..


You've still not got 50 so that prediction is still not settled.. Valuations are calculated on the bid, not the mid or the offer but only the bid.

Ps, i'd rather punt on tossing a coin than here at the moment :-P

[mhin2] 20/9/2018 20:07

Didn't MM say that the gold assets were ignored in the company valuation and he would set up a separate entity for these - I think he also said current shareholders would be `rewarded'. But I heard the same from KRS. While I think MM presents himself as a honest man (and he also has a lot of `skin' in wres)....somehow I dont trust him...its after Saffron Energy, and other Australian mining small cap in the UK.

I am not trying to de-ramp, but sharing my concerns about the undoubted optimism I have for my investment/gamble here. I initially bought at 1p...wow that was quite a time ago, thankfully its coming to the end game....my concern is who will take the rewards? So the issue is trust...and at the moment the only ballast is MM's own investments. Some director buys would be good.

[jaf1948] 20/9/2018 10:02

Plat,

So you got 50% of your predictions correct - I get the same odds tossing a coin.

[2magpies] 20/9/2018 08:55

Are things moving re Hansource?



Looks like Hansource Investments Ltd is no longer dissolved.

[plat hunter] 19/9/2018 20:43

Yeah sure and what about this repost... I was 10bps out :-P

Plat Hunter14 Sep '18 - 09:42 - 12147 of 12173 Edit

a 48 handle on the bid will see some profit taking from the traders... They may well be happy keeping this range bound for the time being.

I'll consider a move above 48 as a break out from a very prominent resistance marker with a move to 53 very possible.

[jaf1948] 19/9/2018 17:33

Plat,

Most long term holders are looking for at least 1p or 2p in the next 18 months. In that context, the warrants are small change.

I also don't accept that if everyone shared my opinion then the share price would be much higher. I don't think the warrants are affecting many people's investment decisions.

BTW, since we hit 0.51p on monday (OK it hasn't stayed there), would this be a good time to repost this:

Plat Hunter 10 Sep '18 - 18:18 - 35 before 50

[rodrod1] 19/9/2018 17:13

Hansource has applied to be reinstated. It's shares in Wres have not been sold down by the Crown. Dyor, I'm just giving my opinion again on this front. I have some past experience.

[plat hunter] 19/9/2018 17:12

6% + the spread and an overhang.

Might be acceptable to you but if everyone shared that opinion then the share price would be much higher.

[jaf1948] 19/9/2018 16:42

If warrants only have the effect of 6% dilution, then it's hardly even worth mentioning. Assuming a 0.50p share price (to makes the maths cleaner), a 6% dilution would bring the share price down to 0.47p. Since it has fallen by twice as much as that this week alone, I'm really not going to worry about it.

[sleveen] 19/9/2018 16:40

Certainly willing to dilute shareholders with placings for cash.

Speaking of placings another must be due soon given all the RNSs of late.

[plat hunter] 19/9/2018 16:36

Magpies, i'm sure you're intelligent enough not to take everything quite so literally... It is a quid pro quo arrangement, is it not?

What they received in lieu, is neither here or there when it comes to the point of the dilution effect of exercised warrants.

In fact if they had of received cash for the warrants then it would have been a lot better than just access to an overdraft.

Now that you mention it, it is in fact a lot more saliant that this company is willing to dilute shareholders for access to debt, rather than cash in the hand.

[2magpies] 19/9/2018 16:29

I still believe that the share price is staying depressed (and failing to rise on good news) possibly because the Crown is drip-feeding the Hansource shares into the market.

IMO.

[2magpies] 19/9/2018 16:27

plat hunter

the company has NOT 'banked the cash', since warrants are 'exercisable' at 0.10, so the 'cash' only reaches the company once the warrants have actually been exercised.

Blackrock has not 'bought' the warrants, but have been granted the right to exercise them.

[2magpies] 19/9/2018 16:24

sleveen

If you 'sell' the warrants, then, by definition, you can no longer exercise them (because you no longer have them)

The level of the share price would become irrelevant to you, because you haven't got the warrants anymore to make that nice profit.

It makes sense to exercise the warrants and THEN sell the new shares!

[sleveen] 19/9/2018 16:05

"WRES Warrants are priced at .10

Why would anyone wish to sell these when share price is @ c. 0.47??"



Because they'd make 0.37p/warrant.

Nearly 4 times what they paid.

Nice.

[barony] 19/9/2018 14:23

Warrant, schmarrant. Wres is at the start of a fairly short journey to producing real profits. I can only see Black Rock as a debtor we need to get shot of us soon as we can. However, I can’t see it as being at all significant to our golden future - in my ho.

[plat hunter] 19/9/2018 12:02

That depends spooky... on the price basis that you mention it's almost 6% of all issued capital. So it's at least some heavy dilution at the very minimum when and if they are exercised.

[spooky] 19/9/2018 11:49

The value of warrants adds up to a total of less than £1.5m if exercised at current prices, is that REALLY an issue or are there more warrants than i am aware of?

[plat hunter] 19/9/2018 11:01

Magpies...

Your understanding of BlackRock is misplaced.. they manage almost 7 trillion USD.. I was simply stating that warrants can be sold and purchased, contrary to your previous message.

tbh though.. i don't even know what the conversion price is on the warrants but say the share price is above that stated by the warrants then the price of the warrants thereby increases too.

whether they have been sold or not, internally or externally, is purely only guess work but the fact they can be sold remains and is the only point I'm making.

[2magpies] 19/9/2018 09:56

Plat Hunter

WRES Warrants are priced at .10

Why would anyone wish to sell these when share price is @ c. 0.47??

Also warrants have been issued to Blackrock, and can only be exercised by Blackrock.

Notice of exercise has to come from Blackrock.

They cannot 'exercise' warrants which they no longer own (if indeed they have 'sold' them).

And, as mentioned before, upon exercise of warrants, WRES will issue shares to Blackrock, and following that, there has to be a 'holdings' RNS evidencing Blackrock's shareholding. In other words, Blackrock will appear on the shareholders' register.

Also selling of warrants won't suppress the sp: selling of shares might.

There is no conceivable reason to sell warrants priced at 0.10: you may as well exercise @ 0.10 and sell @ 0.45, if banking a profit is what you want to do.

[plat hunter] 19/9/2018 09:33

2magpies...

Your view is incorrect...Warrants are not shares and can be sold and purchased on primary markets as well as secondary markets , where they have been admitted to trading.

Warrants are simply options, If i own an option, I am permitted to trade that option because i own the rights to do so, irrespective of any admission to a secondary market

[2magpies] 19/9/2018 09:17

For those who still go on about the warrants, see (for example)today's RNS from FRR: you cannot sell/short shares that haven't yet been issued &/or admitted to trading.

[plat hunter] 18/9/2018 14:40

wowsers.. Don't often call it to the penny :-P

[jaf1948] 18/9/2018 14:04

My view is that the market will wait for the first sales before re-rating WRES. People have been let down too many time by AIM companies, especially AIM miners, so my feeling is that they will wait for some tangible signs that income is on the way.