Wti Oil Etc Discussion Threads

[billthebank] 03/1/2017 19:38

I reckon when copper was $5800/tonne selling 3 months forward the company did exactly that and so 4000 tones with a potential net surplus of $2000 all should be good and Orion will be happy that all is going to plan?

[billthebank] 03/1/2017 19:34

Of course but that seems to be in hand.

[dhymeri] 03/1/2017 19:01

There's just the small matter of the debt to be serviced of course.

[billthebank] 03/1/2017 18:40

LME stating that Copper is selling at $5500 a tonne and WTI are going to produce 17000 tonnes this year. It doesnt need anything else to be said really!!! Partic with costs expected to be below $4000/tonne mined

[blueball] 03/1/2017 18:30

The bulls are strong.

[billthebank] 03/1/2017 13:06

$5300 /tonne and our costs are expected to be sub $4000 Anticpated $3800 Yeah matric tonne Approx 2100lbs!!

[leedskier] 03/1/2017 12:42

$1500 a metric tonne?

[billthebank] 03/1/2017 10:12

I can only assume this is all about the debt management here We should produce 17000 tonnes this year of copper which at the current price 3 months forward is a surplus of circa $1500. So $25M We are valued at £5.5M and on a P/E of 5 only we should be talking an share price way in excess of sub 1p. Hoping for great things here but who knows. Holding for 5p and then review at that time. NAI.

[blueball] 23/12/2016 16:29

stay long.

[sh1984] 23/12/2016 15:48

Market makers keep tightening the spread every time there are mass buys and open again during selling.

[leedskier] 22/12/2016 16:57

It looks like some in the market want to keep it below the radar until then ;

[sh1984] 22/12/2016 11:43

Copper price still holding up despite year end inventory dumping on the exchange, WTI back to nameplate production, US & China demand to rocket in 2017 due to infrastructure projects, Loan Repayments in Feb - Next 10 weeks will be very interesting for shareholders :)

[blueball] 21/12/2016 11:59

Buyers have returned today.

back to 1p in no time.

[mattjos] 20/12/2016 11:08

the Logiman dispute just looks like normal commercial disagreement. They aren't going to do serious harm to a company in which they have such a large holding.
Whilst not ideal, the Board would have discussed this amongst themselves and agreed a way forward (in terms of methodology for resolution).
Arbitration is the obvious choice and I believe it will be resolved satisfactorily. The row is about the quantum rather than anything more meaningful & it seems a sensible thing for the new CEO to do.
The sentiment should change dramatically once Weatherly shows it is capable of making a start on its debt repayment cycle.

[sh1984] 20/12/2016 10:21

MM's tightening the spread now

[mattjos] 20/12/2016 10:08

took some more

[sh1984] 20/12/2016 10:08

Nice article explaining recent softening in copper - albeit it is still holding up at $2.5/lb - will be some profit taking, but look at the long positions that have formed and the positive sentiments into 2017 - WTI is looking very promising indeed , I have topped up.


www.mining.com/copper-price-correction-full-swing/

[mattjos] 20/12/2016 09:58

leedskier .. sorry, type on my behalf. Meant dispute with Logiman

[leedskier] 20/12/2016 09:48

Buys mopping up sells, not helping today.


09:41:56 0.7400 250,000 O 0.6500 0.7500 Buy 658,990 466,796
09:41:43 0.7322 250,000 O 0.6500 0.7500 Buy 408,990 466,796
09:39:54 0.6601 227,239 O 0.6500 0.7500 Sell 158,990 466,796
09:34:06 0.6711 100,000 O 0.6500 0.8000 Sell 158,990 239,557
09:26:14 0.7699 128,588 O 0.6500 0.8000 Buy 158,990 139,557
09:03:37 0.7020 114,672 O 0.7000 0.8000 Sell 30,402 139,557
08:00:26 0.7812 30,402 O 0.7000 0.8000 Buy 30,402 24,885
08:00:13 0.7020 24,885 O 0.7000 0.8000 Sell 0 24,885

[leedskier] 16/12/2016 14:50

There is some detail re Logiman here


Disputes with LogiMan

Following several disputes between Ongopolo Mining Limited (OML), the Namibian subsidiary of Weatherly, and LogiMan (the Engineer-Procure-Construct (EPC) contractor responsible for the Tschudi plant construction) arising from LogiMan's work on the Tschudi plant, the Company anticipates that arbitration proceedings will likely arise to determine those disputes. The Company will provide further updates on this as appropriate.

[leedskier] 16/12/2016 14:45

Add

In fact all the indications are that WTI & Orion are singing from the same page.

[leedskier] 16/12/2016 14:44

Mattjos, there is no dispute with Orion, or at least none that I am aware of. There is a dispute with Logiman in respect of the fixed price contract under which that company was to/did provide engineering works. The precise terms of the dispute are not clear, at least not clear to me, but seem likely to go to arbitration. It is that Company's shareholding which is being sold down and it was its nominated director who was 'invited' to resign when its shareholding fell below 10%.

what remains unclear, but I suspect is probable, is whether Logiman is dripping the large sells into the market every day.



Mattjos13 Dec '16 - 22:27 - 14628 of 14632  


1. Dispute with Orion - resolution thereof.

[sh1984] 15/12/2016 14:10

Wow very impressive Mattjos, you can probably get a seat on the board :) presume you have averaged down since 3p?

[ashbox] 14/12/2016 10:11

Webster - a consultant & still a non-exec director too! :(