Wti Oil Etc Discussion Threads

[zen12] 09/5/2018 09:05

You’ve kinda answered your own question. Doubt you’re going to tempt anyone either way as seem bent negative on this stock and for some 4 years you mentioned! Would question you motive here as no reasonable chap would invest this much time in a stock that he’s not invested in. GL

[mreasygoing] 08/5/2018 16:21

It is unlikely you saved them money. Your post is bordering on the delusional.

[augustusgloop] 08/5/2018 16:00

Zen,

If you are happy losing $64.5m -- then yes you can just get somebody off the streets!

If you had put a tramp off a park bench in charge -- WTI wouldn't have been able to get the Orion loans -- and so would have lost $20m at the most.

What would have been better, a $20m loss or a $64.5m loss?

[augustusgloop] 08/5/2018 15:57

I said similar comments over the last four years - because it was obvious even then that WTI were doomed.

The people that I scared off should be thanking me -- how much money did I save them?

In the 3 years of audited accounts since my posts of 4 years ago -- Weatherly have reported losses of $64.5m --- they were predicting that they would make loads of profit in this period.


Who should be held to account - me for saying that they were rubbish?
Or the Directors that said things were great and then lost $64.5m?

[zen12] 08/5/2018 15:37

You can’t just get somebody to run a PLC! Guess you also mean someone off the streetslol. Joking aside, the benefit is that the existing bod have hugh knowledge and expertise of the asset, the geography and networks to deliver growth here - they surely have more chance than just putting in someone capable who has little or specific experience and expertise of these assets.

[mreasygoing] 08/5/2018 15:08

You said similar comments over the past four years on this thread. How many PI's have you scared out of their holding. You should be ashamed of yourself, German Boy.

[augustusgloop] 08/5/2018 14:57

Zen12 May '18 - 14:34 - 15774 of 15775
0 1 0
You’re having a laugh right? Their an investment company, and investment companies do not run businessses. Simply don’t have the skills, knowledge or resources to run a business.

-------------------

Where's the evidence that anyone in WTI fits that description?

They could put a guy that knows what he is doing in charge.

Presently they own 25%

They call in the loans - they get the other 75% - for nothing.
Plus no shareholder votes - they get to do what they want.

Where is their benefit in keeping the present condition?

[mreasygoing] 08/5/2018 14:15

Those Patel's know a good deal when they see it.

[zen12] 08/5/2018 13:34

You’re having a laugh right? Their an investment company, and investment companies do not run businessses. Simply don’t have the skills, knowledge or resources to run a business.

[augustusgloop] 08/5/2018 12:43

Zen,

So, Orion call in the loans - take ALL the assets as payment.
Every penny these WTI assets earn in the future goes to them.
They run it themselves without paying the fools that have caused this mess.

How is that not a better solution than the present one?

[zen12] 08/5/2018 10:41

Yes, but Orion shareholders will also want returns on their investments, not to get back peanuts on a fire sale. So, its in their best interest to work with WTI o get all their money back and more - this being the whole point of their investment, not just money but the time and effort spent over many years.

[dixi] 08/5/2018 10:33

This has been beset with so many many technical problems. Maybe unforseen or due to oversight - who knows now, apart from possibly Rod Webster?It is hard to see light at the end of this tunnel for either Orion, PI's or the staff operating the mine.But it's certainly not a situation to gloat over.

[mreasygoing] 08/5/2018 10:32

You've been saying similar for over four years. Give it a rest.

[augustusgloop] 08/5/2018 10:16

LOL

What you mean is that WTI lied to Orion many times in the past - managing to screw $120+ million in loans from them - based on profit forecasts that were complete Jackanory.

Orion want their money back.

They have tried restructuring - it didn't help.

WTI have been a Zombie company in default for a while now.
The only purpose of WTI has been to service the Orion debts. [Inadequately.]

Orion will act in their own best interests -- that is very unlikely to match the best interests of shareholders.

[zen12] 08/5/2018 09:56

Very interesting indeed, Orion / WTO have been here many times in the past, and have always worked together to reach an agreeement. This shows they have a strong relationship. Very likely outcome is that they will do likewise but this time agree a longer term loan restructure.

[mreasygoing] 08/5/2018 00:21

Interesting that your pessimistic views were in attendance in 2014. Very similar comments to that post.

[augustusgloop] 07/5/2018 22:45

It spikes on promises of future progress.

Then falls on the realisation (usually slowly attained) that progress fills the Directors pockets, but all the shareholders see are losses.

[mreasygoing] 07/5/2018 20:13

Been very interesting reading this thread from previous times the share price has spiked over the past four years. Very interesting indeed. I suggest those who follow this thread do have a gander.

[billthebank] 04/5/2018 12:56

I am not going to sell At this price.Roll on news re strategic review and jv

[zen12] 04/5/2018 12:07

What rubbish, how can anybody just rubbish the interims! Just because it’s not audited does not mean you can just dismiss it. It’s a regulated, published rns and CEO has signed off! Take this any day before any PI poster anywhere.

[billthebank] 04/5/2018 09:41

Perhaps it is my devious mind in stating that point re depreciation. TBH at the end of the day. No profit then no tax!!!! Good luck to both of us as I may need it.

[augustusgloop] 04/5/2018 09:35

Bill,

The loan repayments do not count towards the calculated profit - only the interest cost.

Why do people never want to include depreciation?
If your equipment wears out, you have to replace it - a totally acceptable cost.
When you take ore from a region in the mine, the value of that mine reduces (preparation cost was classed as CAPEX) - thus the value of that region depreciates and you have to spend to prepare another region.

Plus, the interims are not audited and frequently paint a better picture than the finals, which are often more aggressive on depreciation etc.

For example in 2017 H1 interims = loss $11m on $38m of revenue
2017 H2 = loss of $29m on $37m of revenue.

So, I wouldn't put too much faith in the 2017 H1 figure.

[billthebank] 04/5/2018 08:35

Good post Augustus Harsh on your valuation of Tschudi though even at $7k/tonne and life of mine two/ three years Especially as they are in profit prior to depreciation in last 6 months interim ex depreciation and loan repayment of $10M.

[mreasygoing] 04/5/2018 08:16

Thanks for being open. I'll be holding till the end of this game though. Lessons learned about AIM if I win or lose.