Wti Oil Etc Discussion Threads

[mattjos] 18/8/2015 18:38

They have headroom and an anti-dilution clause to enable them to put more in, if they choose to.All of the 2p subscribers are now more than 50% underwater on their investment and, as the company itself said at the time of the placing, further funding will be required should the price of copper deteriorate further .... Given the price of copper has done nothing but go down ever since, it is pretty obvious that the company will indeed require further funding if it is to survive what now looks to be an extended period during which many producers will go to the wall.Given previous management behaviour, I would imagine they will attempt to double-down yet again (if they can some more mugs to back them) and attempt to go acquisitive in the pursuit of yet more scale, whereas I would suggest the current aged Board members should be culled immediately and the associated London accommodation costs ended. There is no need for any sort of a London office for this company

[dixi] 18/8/2015 18:22

Be interesting to see how Orion choose to handle this.

[mattjos] 18/8/2015 18:18

Dixi .. I am not gloating at all. Merely commenting on events as they unfold. The company has not ever shown an enduring ability to operate profitably, even at much higher Copper prices yet, it effectively doubled-down as hard and as fast as it could to expand beyond Central Operations onto Tschudi. A strategy that has diluted the equity beyond all recognition and loaded itself with debt for years to come. As the scale of the company's operations have increased so its losses have also increased and continue to increase. Metrics such as profit & return on equity have been completely ignored in the blind chase for scale and now it is the financier that is solely in charge of the company and its future .. The company management and employees are now little more than debt slaves to Orion and the company's current shareholders a complete irrelevance. As a high cost producer, Weatherly will get culled in this period of commodity price weakness

[dixi] 18/8/2015 18:10

Maybe some dignity would be in order rather than gloating - after all a lot of peoples livelihoods are dependent on WTI. The price of copper is beyond WTI's control as it is for all other miners. It is never nice to see these situations irrespective of the management's handling of the company.

[mattjos] 18/8/2015 16:49

losing virtually $1,400 per tonne on everything produced from Central Ops now.

Tschudi likely break-even at best. The leach pads will soon be fully loaded and any further deterioration in price of copper will see them losing money at Tschudi as they produce & sell the copper.

Care & Maintenance a more likely outcome than Tschudi reaching full capacity this year.
Can't see how they will ever payback the mine finance package so, the last role of the dice will be an attempt to re-finance that debt prior to collapso

[dixi] 29/7/2015 10:47

Well, it says 10.87m at the top of this thread - you've used more energy typing your question than moving your eyeballs lol ;-)

[ggekkko] 28/7/2015 19:36

Being lazy. What's the mcap here please?

[skirbell] 22/7/2015 10:59

That was a reasonably positive quarterly update. Let's hope that this is a change for WTI and the new CEO will move things forward. Did I miss the production cost for Tschudi? And not sure why almost pure copper from Tschudi is selling for less than the less pure copper ore from Central Ops?

[paleje] 22/7/2015 07:55

Agreed on the cash but overall it was a better update than I was expecting. It sounds like progress is being made and some constructive thinking for C/ops, thinking and doing aren't the same but nevertheless gotta give the bloke a chance, can't be worse than RW.

[longsight] 22/7/2015 07:54

losses on COps hugely reduced - and ability to more than double output there in comparison with prior years means it will be highly profitable at current CU prices - because COps is highly geared [big fixed cost / lo variable cost]

Tschudi - fantastic

[danieldruff2] 22/7/2015 07:36

It's missing some important info though, such as the company cash position, and whether or not Tschudi is making any money. All you get is that Central Ops is losing money on every tonne of copper produced, entirely predictably.

[here and there] 22/7/2015 07:35

Great RNS today. Best I have seen since Tschudi got its funding all those years ago. Clarity on the ore body, clarity on ramp up to nameplate production.

Great news

[dhymeri] 22/7/2015 07:34

Decent rns today. Tschudi on track.

[hugh garss] 16/7/2015 10:27

I'm not a chartist but even to my untrained eye, that looks pretty dire! I've down graded them from "bottom drawer" status to "somewhere in the garage" in the hope that I'll have a nice surprise when I next have a clear out in a couple of years time. Good luck to all very long suffering holders.

[mattjos] 15/7/2015 12:28

free stock charts from uk.advfn.com

[888icb] 15/7/2015 12:13

WTI having a good morning at No6 on the Riser board Up 12%.

[dixi] 09/7/2015 12:45

www.proactiveinvestors.co.uk/companies/news/108842/weatherly-recovers-its-poise-as-production-at-tschudi-stabilises-108842.html

[andy] 04/7/2015 09:26

Do they still have an office in Mayfair?

I find it hard t understand why Webster was retained as a director, maybe it was t avoid paying compensation as a lump sum?

And of course his knowledge of what has gone on here before, I suppose.

In the real world people are sacked for lack of performance, in the city the rules are different.......

[pedro57] 04/7/2015 09:04

WTI have published a new group presentation on the website, although it does not include new information it is very professionally done, which bodes well for the future! In my view both the RNS on new management and this presentation implies we are well on track of hitting 2015 targets. I am very happy holding big stake I have in WTI.

[mattjos] 01/7/2015 21:33

When will they drill Tsumeb West? They need to show some activity there soon to get shot of the squatters with signs of intent.It's galling the Webster is still taking a shilling here but, he's likely got them by the shorts given his knowledge of the stunts he's pulled.So long as he is in no way involved with the operational activities and is there just as an earn out then, we hope his ability to waste money is limited.Despite his passing there are a distinct lack of plaudits so I think it's safe to assume his departure as CEO is in no way mourned by any of the others. It's the new CEO & the new Directors that must take this forward .. Rest of Exec's and Non-Execs are a waste of space and must hope they soon take retirement once Webster's earn-out is paid off.All not yet lost but, it still looks very, very touch'n'go

[mattjos] 01/7/2015 08:28

Craig Thomas' comment of more interest:"we will build upon Tschudi as a foundation, and maximise shareholder value from the rest of our portfolio."

[mattjos] 01/7/2015 08:26

The other board appointments effectively neuter Webster, who is just there now on an earn out jolly.

[pugugly] 01/7/2015 07:50

Webster gone as CEO but stays as a Director Personally I am not happy unless this is a way of phasing him out without excessive compensation. - New directors .

Further to the Company's previous announcement of 8 May 2015, Weatherly advises that Rod Webster has retired as CEO of the company. He will continue to work with the Company as a Director in a development role.

Craig Thomas has been appointed as Chief Executive Officer and has joined the Board of Directors of Weatherly.

In addition, two further new appointments have been made to the Board of Directors, Krzysztof Szymczak, Managing Director of Logiman (Pty) Ltd ("Logiman"), and Raymond Jenner, Portfolio Director of Orion Resource Partners (USA) LP, have joined the Board of Weatherly.

Anyone know the new directors on thoughts on how they might be able to salvage the company and SP?

[mattjos] 26/6/2015 21:05

Now offered more than 50% disc to placing price.Unless Tschudi is going gangbusters, the first acts of the new CEO will be another equity raise and the closure of Central Ops.Probably soon time for Websters exit bonus also