W Resources Share Discussion Threads

[devilhorns] 15/9/2021 08:08

RNS - Production numbers increasing. I can see with a fair wind that 1000t combined for the year might be but is unlikely achievable, assuming the the run rate picks up 40% that represents the move from 5 to 7 day working. I see more like 800t at best for the FY. August production represents 105t per month if you include the shift to 7 day. Thats about 420t + 366t(PTD) 786t for FY

I cannot reconcile how they can move from the 110t per month(combined) run rate that 7 days should provide to reach (225 +33) 258t per month (combined) that was used in the FID.

They are now running 7 days on the "higher grade" yet they require a further 148t over and above this to meet their own FID targets. So output needs to be double (and more) what it is now.

Don't see that its possible and at 110t a month I don't see it reaching operational break even (excluding debt repayment) especially as the profitable Tin is forming a reducing amount of the revenue.

I also find it strange that despite stating in August that the next update would be in October they have provided the update. Makes me think that a cash raise will soon be announced. (Placing or debt)

[rolo7] 15/9/2021 08:02

Ok TS tin issues.

[devilhorns] 14/9/2021 21:42

And so ends another landmark day for WRES. An Historic all time low.

Will it hit another landmark ? In the last 6 months, there has been a 63% reduction in the share price from the high of 18p (in new money)on March 15th and in this period it has been compounded with 54% dilution (Excluding warrants)

Shortly before the capital reorganisation took place on April 1st WRES said:

"The Board also believes that the Capital Reorganisation should improve the liquidity and marketability of the Company's shares to a range of investors, including institutional investors through the creation of a higher price per Ordinary Share."

The April fool was on the investors

[devilhorns] 14/9/2021 12:03

Remuneration package. So thats not not being paid is it ?

Don't speak to me about misrepresenting. On the other board you posted:

"Very unlikely to go much lower as we are producing and increasing quite rapidly. Regua news may come soon and some more solid production numbers. October results will show that we've had the best quarter in terms of production"

So when you say "as we are producing and increasing quite rapidly." You have no evidence of this, beyond a solitary July production number. Let me tell you, "Rapidly " is a subjective statement. The current "rapidity" is not enough for this to get to the 120-150t per month is required for operational break even. Never mind an element of debt repayment. Don't accuse me not being objective when you post banal comments.

Its VERY clear you are a new arrival here. You have ZERO knowledge of whats gone on here over the years. Your opinion of me makes no difference to me, but one thing I am not, is your "mate"

Now, off you trot, you have some ramping to do, there's a good boy (pats on head)

[johnhemming] 14/9/2021 07:02

What I would say to investors in WRES is that it is helpful to have sceptics posting on this board. Human beings are not that good at being objective and it really helps to have different sides of an argument.

[devilhorns] 13/9/2021 21:41

Rolo, That is captured in this statement that I already made "Unless of course you mean things the would effectively mean that when a company is increasing its profit potential ?"

Water problems fixed: Are they ? Masterman has already said that more money has to be spent to create a permanent fix. That means that currently the water problems are not fixed.

higher output higher grades: Higher perhaps, but not enough to achieve the 225t/month W and 33t per month tin. Production as we know it is still less than one third of what is stated FID target.

director buying shares: Which one? The CFO taking shares in lieu of wages ?

full time production staff recruitment: Increased OPEX. Unknown if the kit can handle 24/7 operation.

Next ?

[rolo7] 13/9/2021 20:18

Water problems fixed, higher output higher grades, director buying shares, full time production staff recruitment

[devilhorns] 13/9/2021 16:28

Amitsha. You said that Any positive development / news you (I) deramp.

What positive news or developments have there been I must have missed them?
Unless of course you mean things the would effectively mean that when a company is increasing its profit potential ?
Some news for you, When a company is losing £8m pa and something happens that might mean its only going to lose £7.5m pa, it means it is still doomed. Fundamentally nothing has changed. I think even you could understand that

[datos] 13/9/2021 10:08

Username Billyboy on Lse ask krpton Snake how he lost 30k in a week on HE1

[devilhorns] 13/9/2021 09:56

Amit you say you wern't expecting an update on Regua until next year.

Luckily, you didn't get one.

[datos] 13/9/2021 09:51

Hey Amitshah how long did it take to get a reply email from them, usually they dont reply.

I would say most companies of this type want to run 7 days a week, in fact they probably already are but haven't informed anyone. Its if they can maintain a seven day week without having to shut the plant down for essential repairs/maintenance and the unknowns.

[barony] 13/9/2021 09:46

I agree Amit. Thanks.

[devilhorns] 13/9/2021 08:52

What a dog this company is proving to be. They've not paid debt back in cashflow ever. Always at the expense of the investors.
More confetti. More people out of pocket.

Currently trading on All time low. PATHETIC

[amitshah2021] 13/9/2021 08:44

Hey guys I emailed WRES investor relations asking for an update on Regua AND the 24/7 seven day working week. Here's the response;

Dear Amit
Apologies if previous emails did not get a response but to answer your questions:
Later this month we will issue our interim accounts and in October we will issue our Q3 update.
Both of your questions will be addressed in these announcements.
However, I believe in a previous announcement the company stated "From September the team will transition from a 24 hour five day working week, to a 24 hour seven day working week, as recruitment and training of new staff progresses well."
Nothing has changed to alter this statement.

Best regards

Paul

I wasn't expecting an update on Regua until next year. This is super bullish!! Even clearer signs that we are heading in the right direction. Load up your bags!!! ATB!

[brut winky] 08/9/2021 21:40

I did say 0.2 and i would buy, looks unrealistic.

[devilhorns] 08/9/2021 19:27

Woof woof ! Tick Tock.

[devilhorns] 03/9/2021 20:16

She was a weather forecaster. The reference at the time was to the other board where the talk was of what the weather was like in La Parilla. (They had heavy rain)

[datos] 03/9/2021 15:23

Wincy Willis ?

[devilhorns] 01/9/2021 19:18

Where's Wincy Willis when you need her :-)

[devilhorns] 30/8/2021 18:37

If this gets some volume going next week, it will be all time lows.

[plat hunter] 29/8/2021 19:16

This happens at every company with no cash. They'll even settle with the milk man this way.

[devilhorns] 28/8/2021 14:15

Paid in shares:

I can see how the conversation went.

CEO: "CFO me owld mukka, I know we owe you £35k. You've been sitting at home since you started and we don't have much money. How about we call it £35k worth of shares but valuing the shares at 10p instead of 7p. It doesn't cost us any cash to do this, we can dilute the shareholders further and if the share price goes up, you might win. If it doesn't you've got something you can sell at a loss. Its the best we can do"

CFO: "But surely it would make more sense to give me the cash for 350k shares @ 7p and I'll buy on the open market, that will help to push up the share price?"

CEO: "We've got no spare cash and that is £24500 out of the bank. If I give you shares it doesn't cost anything. So look, that's your only choice, take it or leave it, we've done this with my consultancy fees and to settle other liabilities with suppliers, there is nothing that makes you special"

CFO: "Well I have no choice then"

CEO: "Well, Errrrm well mmm errrrrrm No"

Purely fictitious of course, but a conversation that COULD have taken place in any company