W Resources Share Discussion Threads

[plat hunter] 01/3/2019 10:34

There has to be further placings, WRES has the equivalent of a 143% Loan to Value ratio on a mortgage.

Even Northern Rock didn't lend to those crazy multiples way back in the good old days of 2007

I think one of the biggest issues overlooked by most here is that the warrants issued to BlackRock were issued on a cash price basis. BlackRock get the same amount of money regardless of the share price, which obviously means dilution.

It shows that masterman is not concerned with shareholders and that BlackRock are not concerned about the share price when they sell.

[marvelman] 01/3/2019 10:23

Yes indeed PH...some very intelligent and informative posts by the way which are largely ignored to the detriment of most "invested" here....the chart says it all. I opted out the moment I saw the dreaded Blackrock money lenders name appear. Masterman is a smooth operator for sure but has always put his own interest and that of his hangers on before anyone else. I wonder when the placing for the "gold" prospect will emerge..that has gone very quiet.

[plat hunter] 01/3/2019 10:11

Further to that Sleeven, if JLP did the same thing as you are suggesting then JLP's debt leverage would only be 70%, still half of WRES liability, for one single project.

[plat hunter] 01/3/2019 10:08

Sleeven.

WRES will be in production before KABWE I agree and I've even stated when and why the share price will bounce back too haven't I?

The problem here is not when it will reach full scale production but merely the nature of BlackRocks presence, the delays, false milestones celebrated by Masterman, the cost of dilution for BlackRock, interest and the capacity of the plant over the resource size.

BlackRock are a huge seller here, and the cheaper the share price the more dilution shareholders suffer as they exercise and sell down then you've got the plant issue coupled with the interest obligations.

LA Parilla is a being brought online purely to cover the costs of the BlackRock Drawdown facility. WRES will not be profitable until the second or third drawdown to bring other assets online.

It's a little like a buy 2 let investor.. The majority of income goes on servicing the debt, you can only grow your retained income by servicing the debt and taking on more assets and debt. The real income is then earned once the debt vehicles are satisfied.

WRES debt is 143% of it's NAV.

[plat hunter] 01/3/2019 09:58

JAF.

If I went and got a loan or an overdraft from the bank, the bank is not investing in me or my future success are they?

BlackRocks involvement here surmounts to debt bondage and they received warrants at cash value as of the date of execution for the privilege too. They receive interest payments and 3 million quid to be here.

Friends that are paid for their company, are not friends didn't your mum never tell you that?

[sleveen] 01/3/2019 09:56

PH

WRES are in a similar position as JLP were when Hernic and DCM were being built. Both projects are generating cash.

Currently JLP have a $50m loan facility (not drawn) which they might use for Kabwe if JLP were to draw on the $50m facility they would in EXACTLY the same position as WRES are now.

In fact WRES will be in production far earlier than Kabwe.

I hold WRES and JLP.

[jaf1948] 01/3/2019 09:52

I don't have a master degree. I have a BSc(Econ) degree. In the true economic sense of the term, it is an investment. But if you think differently, fine.

Go and read all the comments on LSE about last night's meeting. It is very reassuring to most people but since you call Masterman a liar and a conman, it will probably only reassure your own theories.

[jaf1948] 01/3/2019 09:47

If Krypton is ramping this, then you are deramping this.

Pot ? Kettle ?

BTW, a good definition of investment is:

An investment is an asset or item acquired with the goal of generating income or appreciation. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit.

But what do I know ? I only have an honours degree in Economics.

[plat hunter] 01/3/2019 09:44

Krypton you're ramping this and you don't know the difference between..

Revenue from EBITDA or Investors From Creditors.

[plat hunter] 01/3/2019 09:38

Krypton..

BlackRock have not invested into WRES, that is simply false.

[sleveen] 01/3/2019 09:17

"This is no Wolf Minerals"

For once I agree with you Krypto.

WLFE had a string of issues for the 2 years they were in production before going bust.

WLFE were burning cash even though during the last quarter before going bust they were producing 430 tonnes circa 140 tonnes/month.


I did warn WLFE investors of the dire financial position numerous times, I hope some took notice (Excuse the virtue signalling).

[kryptonsnake] 01/3/2019 08:23

BlackRock was happy to invest $35 million into WRES. This is no Wolf Minerals

A buy and hold at these low prices is going to make you lots of money

[wooster4] 01/3/2019 08:01

the debt collector - i think you've missed the boat if you're contemplating shorting.

[sleveen] 01/3/2019 07:39

tdc

You said similar comments when AAU were 1.3p 6 months ago and look at AAU now 2p.

By that yardstick WRES 0.7p in 6 months.

[the_debt_collector] 01/3/2019 07:20

Looks a good short this one - so why has the live site webcam been taken down, something to hide?

Is this about to become the next Wolf Minerals - Co now straddled with debt and a CEO who loves a placing or ten.

New lows coming, more-so with a persistent seller, another 10m dump yesterday.

[plat hunter] 28/2/2019 22:05

10 million sale at .42.40 coming

[kryptonsnake] 28/2/2019 20:31

This is a well traded company. The share price broke below its support of around 0.5 so is probably heading for the next support of 0.42

It was bought heavily around that price and ended up going above 0.6 last time. It won't be long before that happens again

I will be buying more if WRES stays above the next support

[plat hunter] 28/2/2019 17:44

Krypton doesn't even know what the projections are for his one and only punt and pump.Idiot.

[sleveen] 28/2/2019 14:21

From 8th Feb 2019

Video of Jig plant need to scroll down to 8th Feb.





Also compare 26th Feb with 7th Feb Jig construction (20th Feb same as 7th but a different angle).

[kryptonsnake] 28/2/2019 12:12

Masterman has said it's $3 million EBITDA

[sleveen] 28/2/2019 11:44

Yup it's revenue, grade 65%.