W Resources Share Discussion Threads

[devilhorns] 04/10/2021 13:55

Suspicious amount of volume kicking around today. Something is afoot

[devilhorns] 02/10/2021 11:25

Likely 2 weeks to go before the Q3 production numbers are published. Yes they will be higher then Q2, but then so will the OPEX now they have people and plant working 7 days a week around the clock.

Masterman has reaffirmed that they will produce 1000t combined this year. The numbers are not stacking up though, perhaps he's just being a bit loose with his statements.

All figures are combined.

H1 222t
July 68.1
Aug 75.6

Total 365.7t

Shortfall against target = 634.3t

To meet the 1000t stated that will require an average of 158t per month

Now that seems to be a stretch when taking the best month todate and applying a 40% uplift for 7 day working produces only 105t per month.
So factoring this in, my forecast for the FY will be less than 800t at best

A LONG WAY short of the FID that stated WRES would be producing 258t a month commencing 2 years ago!!!!

Now will it be next week we see a cash raise ?

Tick tock and woof woof

[devilhorns] 01/10/2021 17:25

Jaf. K3VMC is nasty piece of work isn't he. What a to$$er. Thats what comes with losing well into 6 figures on your original investment. He says you are nasty and bitter? Bloke needs to get a life himself.
HAGW

[jaf1948] 01/10/2021 17:12

Or wait until the mine is operationally profitable (not profitable overall), then foreclose by demanding some repayment in cash (which they will not have)and finally sell the mine on to a company that knows how to run it efficiently.

At least, that's what I would do !

[plat hunter] 01/10/2021 13:37

This is chicken feed for Blackrock, they'll keep rolling over until they practically outright own it.

[devilhorns] 30/9/2021 16:37

4.3m Euro loss
Production of 220t combined concentrate of which
Shipped 218.5t combined concentrate

Thats a loss of 19500 euro for every ton of concentrate produced, or 19700 Euro loss for each ton of concentrate shipped.

Impressive stuff.

[devilhorns] 30/9/2021 16:28

Yo Jaf, Is the bank of antandec offering business loans yet ?

[jaf1948] 30/9/2021 14:54

Barony,

The Blackrock bloodsuckers as you put it are the only thing that has kept WRES alive for the past two years, allowing the company to keep rolling up their debt.

The half year figures show that WRES is losing money on every ton they sell. Why should anyone want to take on refinancing over $50m of debt on a money-losing mine. And, as you correctly say, without refinancing WRES's prospects do not look too good.

[barony] 30/9/2021 12:41

Lots of exciting prospects, but Blackrock bloodsuckers are the killer. We must refinance that debt.”

[sleveen] 30/9/2021 08:54

neither of which represent cash.

[devilhorns] 30/9/2021 07:29

Yes, but there was a currency benefit of €4m last year. It all balances out. No cherry picking allowed

[eldermon] 30/9/2021 07:22

£1.8m of the loss appears to be as a result of an exchange loss and pretty much out of the control of the company. It's likely under a constant currency basis that the figures would show up better.

[devilhorns] 30/9/2021 07:04

<€2m euros of revenue.
>€4.3m loss

No interest payments made to blackrock AGAIN
PIK waiting to be agreed. HUGE Dilution as a result.

Talk of Regua. Gold and a new hunting ground. NO mention of how this might be funded. Much more cash required that they do do not have.

Hilarious.

[devilhorns] 29/9/2021 21:09

Interims tomorrow. Lets see what 6 months of revenue looks like. I can hardly bear the excitement ;-)

[devilhorns] 29/9/2021 06:47

Where is the dog walking the price to today ? Interims tomorrow, placing/cash raise anytime soon. It's coming IMHO.

[grimreaper2019] 28/9/2021 14:30

This company has spectacularly under-delivered, presentation claims made in the City by Micheal Masterman from 2018 onwards have turned to dust.

WRES is now hamstrung with debt and forced to go to the posh equivalent of death spiral lenders, the result being equity going below par value, a subsequent share consolidation with many millions of shares issued to Blackrock sub 7p, these will
eventually be dumped if the share price ever recovers.

It will be a long haul back, if ever.

[devilhorns] 28/9/2021 14:14

Plat, you're not far from the mark. The fan club are in for a rough ride. Funny that they hold in the hope that this will get back to 40p.

[devilhorns] 27/9/2021 10:31

There will some excitement when the interims come out for H1 on Thursday.
Expect to see much hype about Regua and water management. Jam Tomorrow stuff
This will then be followed by a cash raise
First half revenues will (should) be visible in this

All in my opinion of course.

[plat hunter] 27/9/2021 08:06

Sub 6 ain't far off now, nigh on 90% down from when Krypton was shouting his rhetoric here.

[datos] 24/9/2021 13:39

They need to explain what is happening with their tin processing , over 6 weeks ago since they reported problems with it.

[devilhorns] 24/9/2021 11:19

The usual pump going on using made up numbers again on the other board. It will drop back today IMO and certainly over the next few weeks. Cannot wait to see their faces when the Q3 production numbers come out. Egg all over them.

[barony] 24/9/2021 09:20

Sort out the debt and give us some revenue and development numbers!

[brut winky] 24/9/2021 08:13

Has it finally made o bottom ?