Wti Oil Etc Discussion Threads

[113mike] 17/2/2015 11:43

Alot of people bought in on the strength of that rns!

[evil_doctor_facilier] 17/2/2015 11:43

how embarrassing for polo.

[waspfactory] 17/2/2015 11:42

You couldn't make it up.....Oh, he did!!

[evil_doctor_facilier] 17/2/2015 11:38

yep one last ramp of the shares before the end.

[wassapper] 17/2/2015 11:36

Today's statement appears to be in direct contradiction to the RNS of 30 Jan ....

Update on Progress at Tschudi Copper Mine

Plant Ahead of Schedule

Weatherly International Plc (AIM: WTI) today announces an update on progress at its Tschudi copper mining project in Namibia, which is ahead of schedule and first copper is forecast to be produced in February 2015.

Highlights

-- Over 80,000 tonnes of ore has been stacked and the first seven cells are being irrigated with sulphuric acid.

-- The Crushing and Agglomeration plant is now in full operation and achieving the desired throughput rates and required agglomerate quality under full throughput.

-- The Solvent Extraction plant is in the process of being filled with diluent.
-- Anodes are currently being loaded into the Electro-winnning cells, with cathodes to follow.

-- Both the Solvent Extraction and the Electro-Winning plant will be completed within the coming week, ready to begin plating copper.

Rod Webster, CEO, said:

"The project is well ahead of its original schedule, with first copper expected next month. The crushing and processing plant is now in full operation and functioning effectively. We are using a proven technology to extract high grade copper in a low cost operation."

The Chairman, John Bryant, said:

"The Tschudi team has taken great strides forward over the last few weeks in delivering the project ahead of schedule and on budget. Tschudi, once in operation, will deliver significant benefit to our shareholders."

[dixi] 17/2/2015 11:13

The market has now been updated - there is not a great deal more to say. Apart from suspending the shares was the correct thing to do by the company.

[wassapper] 17/2/2015 11:12

Now that appears to be very naughty. Did they not trumpet things going well and ahead of schedule just 2-3 weeks ago? Now they have problems with recovery? This must have been evident at that time. Design? Metallurgy?

This really does smack of incompetence or double-dealing. Were they trying to hoodwink Polo?

I don't hold WTI - have not for 2-3 years now - but remain interested.

[evil_doctor_facilier] 17/2/2015 11:10

the absence of any comment from dixix is duly noted.


dixi
17 Feb'15 - 10:02 - 13902 of 13920 0 0

Shares are suspended - so no false market in WTI - can see no reason to not update shareholders as of now?

[johnwise] 17/2/2015 11:06

Weatherly International PLC Statement RE: Suspension of Shares

17/2/15

RNS Number : 1107F

[mattjos] 17/2/2015 11:06

Very careful now to emphasise the secured nature of the loan & to emphasise that, effectively, Orion will be determining the future of the company from now on ... This is being set up nicely for the company to be put through on the grounds of not meeting criteria attaching to the loan.Tschudi will be in the hands of Orion fairly shortly now & Weatherly likely wound up by the same dodgy accountants that vended Tschudi into it in the first place.

[mattjos] 17/2/2015 10:53

As I had suggested ... Central Ops has never delivered according to the Feasibility Study. Hence reason for questioning the assumptions, accuracy and projections of the people that drew it up.Same sharp practice looks to have been used in dressing up the Tschudi BFS in order to get the funding.Imagine Logiman, the other contractors and Orion, given the sums involved, will be after blood now. Prison awaits Webster & co if this is proven

[mattjos] 17/2/2015 10:44

So, in effect, the copper recovery rate is nowhere near that expected and hence the whole project is looking uneconomic.Curtains

[danieldruff2] 17/2/2015 10:43

Well that is the worst of all possible news. Been wondering if I would regret or rejoice I sold out last week - looks like the latter. Commiserations to all holders.

[mattjos] 17/2/2015 10:41

The fact that everyone at Weatherly is in a meeting other than the incompetent fort-holder (one assumes little more than a cleaner on overtime) suggests a certain level of seriousness regarding these latest events. Were it good news it would have been out of the bag by now.

[mattjos] 17/2/2015 10:38

If you call the company you get through to some idiot who doesn't even know the day or the week let alone anything else. He is 'holding the fort' apparently ... I fear the fort will not last long.The Nomad politely tells you to f-off as they are far too important to speak with anyone other than institutional investors.Just when is this arrogant attitude towards the company owners going to change?

[evil_doctor_facilier] 17/2/2015 10:32

can anyone show me any aim company suspended just before a takeover rns????

I know holders are hoping for the best but that's crazy!

You would have had the standard 'in talks' RNS, and not the suspended RNS!!!

[danieldruff2] 17/2/2015 10:26

I think those large sales were Blackrock. If Central Ops was being closed down you would expect a whisper in the Namibian press but I see none, so I'm edging towards a takeover. Mind you - Central Ops must be closed down!

[evil_doctor_facilier] 17/2/2015 10:21

looking at the trades yesterday the market was suspended (immediately )the next minute after two 250k sells came in...and a 1 million sale in the morning also.
again not a great sign

[evil_doctor_facilier] 17/2/2015 10:18

is it that? That would be a easy rns to write surely???
More likely to do with financials.

[113mike] 17/2/2015 10:17

What'll be the impact on WTI share price if there is a closure/mothballing of Central Ops ?

[evil_doctor_facilier] 17/2/2015 10:14

Aim insist that shares keep trading on almost all occasions, you can see many times when shares that are dual listed in Canada and Australia are suspended prior to sensitiveness news but continue to trade on AIM.

whatever it is its major, this is aim, Good news is trumpeted out so realistically probably bad news for holders!

[sivadnoj] 17/2/2015 10:14

Surely the most likely possibility is an announcement regarding closure/mothballing of Central Ops given last RNS?

[evil_doctor_facilier] 17/2/2015 10:10

show me any aim share suspended "so so no false market exists" before a takeover rns!!!


dixi
17 Feb'15 - 10:02 - 13902 of 13904 0 0

Shares are suspended - so no false market in WTI - can see no reason to not update shareholders as of now?

[113mike] 17/2/2015 10:06

Yep..not looking good imho