Wti Oil Etc Discussion Threads

[mattjos] 12/5/2015 17:03

JD .. how else would you categorise it then?
Orion have advanced monies secured against the Tschudi asset & they have also now acquired equity in Weatherly.

If/when push comes to shove, who do you think will triumph in any bunfight as to ownership of Tschudi? Perhaps you think Orion are just a charity organisation and look to gift such things?

One other possibility for Webster's reclassification from Exec to Non-Exec is to start to distance him from action he took whilst at the company that may, at some future point in time, come under scrutiny.

[johnwall] 12/5/2015 16:22

leedskier - yes, I initially focussed on the "4% to 3%" statement but it seems they have actually bought another 7m shares. At first I assumed this must have been as part of the placing referred to in last week's update. Having read that again, however, the placing part of the deal is subject to shareholder approval so presumably L&G must have bought in the market?

By the way, had anyone come across this 'cashbox' arrangement before? I hadn't, but it basically seems to make a mockery of pre-emption rights.

[leedskier] 12/5/2015 15:49

L&G has actually increased its shareholding but because of the recent dilution its Holding as a percentage is shown as lower.


Before Suspension


25,945,455
ORD
GBP0.005 (As on 15/03/2012)


Now

33,060,818 33,060,818

[mattjos] 12/5/2015 15:38

Orion gets its money from the interest on the loan & whatever it does with the copper. This equity stake is negligible by comparison & simply assures them an even stronger position (debt + equity now) in the event the company continues to make a Horlicks of things.
The contractors stakes simply assure them of the on-going processing contracts at Tschudi.

The Tschudi asset and the working thereof is, in reality, no longer owned by Weatherly. Weatherly itself is left with Central Ops (losing virtually $2000/t produced) and the other assets that they have thus far failed to ever make anything of.

Webster will know where the bodies are buried from the GT transaction & the stunts he has pulled ever since, therefore in a position to continue demanding an earn-out fee.

One further slip up and the asset will be clawed off them

[longsight] 12/5/2015 14:52

Parallel universes? Orion buying 172m shares at 2p & at same time the shares are trading at one third below that price.

[ashbox] 12/5/2015 13:52

As usual with these AIM co's he's not fully going yet: 'He will continue to work with the Company as a non-executive director as Tschudi builds to its full operational performance during 2015 and in a development role'. These guys rarely get the sack.

[mattjos] 12/5/2015 12:51

certainly think these rocket type posts are very premature. This is going nowhere for the time being. Rod needs to get gone first. The new CEO will likely want to do some financial 'spring cleaning' before he tries to put his mark on the operational results from Central Ops & Tschudi .. and all this to happen during the dog days of summer.
Cant see much in the way of positive progress before calendar Q4 this year

[zendik] 11/5/2015 15:38

4.5p end of week.

[zendik] 11/5/2015 15:11

The rocket is being prepared for takeoff...

[zangdook] 11/5/2015 14:56

So producing at $7k and selling at $5k. Brilliant. Almost as good as my stock-picking. If they have a cunning plan perhaps they should get their fingers out.

[tiger noble] 11/5/2015 14:23

Update today. ."We reduce our target price from 8.3p to 4.5p, principally because of the operating problems but also because of dilution from the fundraising," said broker finnCap. RFC Ambrian added: "The company has stated that the processing difficulties at Tschudi are limited to a certain ore type, which it believes it has defined and that it has now excluded from the mine plan."

[danieldruff2] 11/5/2015 11:28

Central Ops was $7700 in last quarter, Tschudi is unknown

[billthebank] 11/5/2015 11:25

Did I read that cost of production was above $7000? Surely I must have misread that?

[danieldruff2] 11/5/2015 09:51

Yeah it's good people have the choice of what to do. I remain bullish on copper and I saw in the FT the other day that Rio Tinto are also talking it up, predicting a deficit within two years. Not that the mooted surplus in copper has actually happened this year. It looks like a balanced market. Think that's 4 years on the trot that analysts have predicted a copper surplus and it just hasn't happened.

Looking at WTI I have the impression the cash cost of production is way too high so I'm staying away unless they can prove otherwise.

[waspfactory] 11/5/2015 09:42

I've managed to buy 150k on line at 1.65 - averaging down or throwing good money after bad? I'll have a better idea in 12 months time I guess, however I'm just relieved to still be a shareholder after the recent shenanigans. Good luck all, new and long suffering holders.

[soulsauce] 11/5/2015 09:29

Quite a bit of selling early on which is to be expected for a stock that has been suspended so long, but some decent buying apetite too.

[tiger noble] 11/5/2015 08:04

Can't buy online yet.

[dixi] 10/5/2015 07:58

Mattjos - I know you've been a long time disliking Webster being involved. I just hope your assertion is correct and the assests can perform adequately and not let us down. Question being has under performance been RW's or the assets fault? Guess time will tell.

[forest owlet] 09/5/2015 12:18

Sell them for £1 would be a good deal

[leedskier] 09/5/2015 06:50

According to the CEO of Glencore it is over production by BHP, RIO & Vale which is driving down metals prices.

Copper prices have not been helped by RIO, which significantly ramped up its production in 2014.

That would be Ok if China, which buys 45% of the world's production of copper, had not reduced imports.

As commented above, copper has seen a rebound in prices this year, but that is not because of an increase in demand in China, and like the recent rebound in oil prices, may simply be a switch from short to long by the metals traders. But it may not last.







How Webster thought that he could manage WTI from an office in Central London beggars belief.

I see that the COO who will take up the reigns as CEO in June, is actually based in Namibia.

If Central Operations is losing 30% on production, it should either cut costs or mothball, or perhaps, better still, sell the mines to the Chinese.

[jdwag] 09/5/2015 01:38

Your right that's the focus of this 4 month out of data lolol. Fabulous.

JD

[bean02] 08/5/2015 23:26

During the quarter, the Company produced 1,050 tonnes of copper at a cost of US$7,763 per tonne. The company delivered 4,659 tonnes of concentrate (988 tonnes of copper) to metal trader Louis Dreyfus at a weighted average price of US$5,910 per tonne copper (US$ 2.68 per pound).So they're losing @30%?

[jdwag] 08/5/2015 14:59

Was this deal ever actually in doubt? Hate to say I told you so, but anyone who just sat back for two minutes and thought about it rationally would have know this was a stick on (as i said on this board previously and was shot down for).

JD