Wti Oil Etc Discussion Threads

[finraj] 17/2/2015 13:53

And they didn't know these problems existed 2 weeks before? Was a strongly upbeat RNS

[dixi] 17/2/2015 13:51

Do the designers and constructors not have any culpability here if they have delivered a lousy 'product'. Would have thought WTI would have some safeguards against a shoddy job.Or just maybe corners were cut in all the wrong places.Nice job earning all that dough, then saying oops made a mistake. Useless shower.

[fangorn2] 17/2/2015 13:50

Nope, non deductible for CGT purposes I'm afraid to say.

Don't think any small miners have made investors money over the last 3 years or so since they all pinged the highs...

Aim as a listed market is toast imv -too unregulated,too much scandal. At some point, not too long now, most investors will pack their bags and call time on it. Just too many charlatans.Better to invest in blue chips in Ftse100-250.

[soulsauce] 17/2/2015 13:45

Fanghorn cheers for that but I can't manage to raise a smile today.

Worst thing is this is in my ISA so I don't think I can even count the loss - can I?

[mattjos] 17/2/2015 13:39

The consequence of this sort of scam, the players have to disappear for a good time thereafter, as in the film.Unless you are of the Lenigras ability, it is best to make good your exit as quick as you can as soon as the game is up & stay hidden until it all blows over. I suggest the next news piece will be of the catastrophic variety .. Total balls up on the chemistry front and unfortunately Tschudi is only producing 0.00000001% copper on a 500 day leach cycle. Rest of it is all Tschudi Springwater.Despite best efforts to appeal to Orion's good nature, they have called in the security on the debt & passed it on to Logiman and the other contractors to have a stab at.Terribly sorry and all that but, we're skint. Nothing left for shareholders after directors salaries & Administrators costs, you understand?Thanks for all the lovely lolly but, the last 36 months have proven incredibly stressful (& profitable) and I must have a long rest, incommunicado my doctor tells me.

[fangorn2] 17/2/2015 13:39

@Soul,

Quick quick get on the blower to Andrew Bell - another blue sky project to juggle, raise some capital, erm, I mean investment off the back of to maintain the gravy train..Not as if RRR are in copper either , yet...:)

[soulsauce] 17/2/2015 13:25

Ok Mattjos, the fat lady is singing here lets hope they can find away to gag her. Lets hope the unexcpected happens and Orion, Logiman, Polo and Webster find a way round this.

[soulsauce] 17/2/2015 13:05

Mattjos well done you have called it right all along, I only hope you followed your gut and did not hold any shares here?

Is that it then, do we expect to get nothing?

Mattjos what do you suggest we do?

There are always tetthing problems with start ups and surely Orien would allow for that, however this sounds more than teething problems which flies in the face of the recent trumpeting RNS of Tschudi ops as a company changer. So what has gone wrong and why?

Did Wester already know this was possible and that is why he needed the extra money and when Polo decided against taking up it left them well short for the known unknown?

I nearly sold the other day but believed the hype of the recent RNS, how many more have been suckered in.
The only consolation I have is that others are in the same boat as me but it is money I can ill afford to write off.

Anybody see a way out of this?

[ashbox] 17/2/2015 12:55

Yes, what a shambles! The recovery rate from leaching must have been tested to a high degree in lab conditions for any BFS surely? Recovery rates may vary but this sounds like a massive miss that they can't fix without further investment. The speed with which this realisation came upon them also begs many questions....

[dropside] 17/2/2015 12:52

dixi I am sure that is what it is - but the material would have been tested in a lab, then a pilot test of a larger quantity before putting it into mass production, surely.

[dixi] 17/2/2015 12:40

Mattjos - are you assuming the plant problems are a deliberate stitch up?

Interesting post on iii regarding Cu recovery and whether the ore is suitable for the process being utilised. It has to be a fairly major problem to end up this way - ie it doesn't work!

[mach100] 17/2/2015 12:39

Having been to an investor evening and had this one on my watchlist, I feel sorry for all holders here. A true shafting from a mining company. Although Rod's promises weren't copper-bottomed I must say he does seem to have a brass neck! Not sure Polo Resources investors will think their company is so mint either as it is now the Polo with a large hole in its investments. The seller who exited yesterday must be feeling sweet!

[mattjos] 17/2/2015 12:33

And people wonder why these crooks get away with it time and again?Folk just seem to shrug their shoulders and acknowledge that it is AIM!Would they be so complacent if same people broke into their houses and stole money or goods? No. They'd be angry and expect justice to be done with involvement of the Police and the Courts.Yet here, folk just shrug acceptance .. And in so doing they publicly further embolden the other crooks and spivs that treat the AIM market solely as a legalised means to commit fraud, robbery, deception and really any other crime they wish to get away with.Nothing will change until such time as a group of these crooks and their advisers are caught by investors, prosecuted by the regulator and jailed as a consequence. Otherwise, they will already now be planning the next heist of private investor money

[dropside] 17/2/2015 12:33

What a shambles, Webster really is as incompetent as he sounds on that conference call. At best. At worst he has mis-led us badly and that needs to be investigated.

[113mike] 17/2/2015 12:19

Just had £2.5k tied up in these. Fully expecting to loose it all now...or if they do come back it'll be worth around £100..if i'm lucky...fortunes of war as they say...hoping some of my other ones come good!

[evil_doctor_facilier] 17/2/2015 12:17

Did Bradford and bingly do an open offer? i dont think so, theirs was a rights issue

[zangdook] 17/2/2015 12:07

only on aim..

Bradford & Bingley wasn't on AIM.

[riskier] 17/2/2015 11:49

In order to mark this latest debacle I suggest we all meet for a heavy drinking session in an establishment that manufactures beer. Just wondered if I should ask Rod to project manage the event, but somehow doubt that his skillset would be appropriate.

GLA

[evil_doctor_facilier] 17/2/2015 11:47

so the $10 mill cash (as last reported) will be seized by the creditors then?
just 2 months after a open offer raised funds???

only on aim..