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EXCLUSIVE: Aura Energy #Aura to IPO Swedish Vanadium prospect Watch Here

EXCLUSIVE: Aura Energy #Aura to IPO Swedish Vanadium prospect


Weatherly Share Chat (WTI)



Share Price: 0.175Bid: 0.00Ask: 0.00Change: 0.00 (0.00%)No Movement on Weatherly
Spread: 0.00Spread as %: 0.00%Open: 0.175High: 0.00Low: 0.00Yesterday’s Close: 0.175


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FrankTiny
Posts: 146
Off Topic
Opinion:No Opinion
Price:0.175
Any progress?
Wed 09:33
What is the latest?
 
FrankTiny
Posts: 146
Off Topic
Opinion:No Opinion
Price:0.175
RE: Re The Plot Thickens
13 Jun '18
Maybe being stuck in this investment will pay off after all! All ifs and buts I suppose....
Fundamentally
Posts: 460
Off Topic
Opinion:No Opinion
Price:0.175
Re The Plot Thickens
13 Jun '18
The agreement to buy an extra 65% of CARN was a legally binding agreement, subject only to regulatory approval. Therefore WTI had to proceed. I am assuming that the purchase has been made by the Namibian operating subsidiary of WTI, as the UK parent (WTI PLC) is in administration and does not have $600,000 cash! Whether Orion would have approved this purchase if it was not legally binding is an interesting question!

I agree that this 'looks' like it could be good news, but I think this depends on a lot of things such as:
can WTI PLC retain ownership of its operating subsidiaries? (I hope these are not sold off by the Administrator.)
Will Berg Aukas be developed? How will this be financed? etc etc.
Chasetheace13
Posts: 149
Off Topic
Opinion:No Opinion
Price:0.175
The Plot Thickens
13 Jun '18
Ok I may be playing a bit thick here, but if we have the administrators in how are we able to further our interest in CARN if we are supposed to be broke...is there now a little light at the end of this very dark tunnel? It is once very confusing picture.

From the RNS:

All conditions precedent to the Acquisition have therefore now been satisfied and the Acquisition has therefore completed in accordance with the terms of the binding agreement between the Company and Hong Kong East China Non-Ferrous Mineral Resources Co Ltd.

Accordingly, the Company now has a 90% interest in CARN, which owns 100% of the high-grade Berg Aukas underground zinc-lead-vanadium project near Grootfontein.
pedro57
Posts: 99
Off Topic
Opinion:No Opinion
Price:0.175
RE: RE: WTI website
13 Jun '18
Would Orion not have had the final word on whether WTI is allowed to buy Berg Aukas stake? Does the fact that they were allowed to buy it not imply that company still has chance to reemerge from all of this? The Berg Aukas project actually looks the best of the three that WTI has (Central Operations, Tschudi and Berg Aukas). A WTI with the other two projects developed (and Tschudi returning) could actually pay back debt and generate decent returns.
JP2000
Posts: 176
Off Topic
Opinion:No Opinion
Price:0.175
RE: RE: WTI website
13 Jun '18
Good development for WtI, though doubt Orion are not happy as it’s 600k less they’ll receive from administration.

BA has NPV of $75m but is pretty much worthless in a fire sale so Orion might as well let WTI develop it along with Central Ops.
MTSparky
Posts: 5,726
Off Topic
Opinion:No Opinion
Price:0.175
RE: RE: WTI website
13 Jun '18
Woohoooo WTI own Berg Aukas!! Party time.
MTSparky
Posts: 5,726
Off Topic
Opinion:No Opinion
Price:0.175
RE: RE: WTI website
12 Jun '18
With the improvements in Cu and exchange rates Tschudi would turnover £100m a year wouldn’t it?

Drains should be cost effective but is there enough Cu in the ground? #hoodwinked
Fundamentally
Posts: 460
Off Topic
Opinion:No Opinion
Price:0.175
RE: WTI website
12 Jun '18
The other entities are the operating subsidiaries, owned by WTI.

I have looked at the 30/6/17 Statement of Financial position. On that date, WTI PLC had current liabilities of only £122,000. It had long-term liabilities of £5,000,000 owing to other companies within the group (i.e. the subsidiaries).

It is not worth going into administration to settle debts of £122,000. The administration will cost more than that. The £5,000,000 is owed entirely within the group, to entities owned and controlled by WTI PLC (they have very small minority shareholdings). Therefore I am not clear about the purposes of the administration.

The fact that the operating subsidiaries are not in administration might (possibly) be seen as encouraging, if it is possible to eventually resolve the issues at Tschudi and/or re-start Central Ops on a profitable basis. However, this is highly wishful thinking. Firstly it may not be possible, and secondly it is not at all clear that WTI PLC will still own the subsidiaries. I think that (as always) everything depends on Orion. Does Orion wish to give up and write off over $100m, or does it want to finance the draining of Tschudi? If copper keeps going higher this option obviously looks more attractive. We shall see. Hey, Boffin, are you still there? Any thoughts on this?
MTSparky
Posts: 5,726
Off Topic
Opinion:No Opinion
Price:0.175
RE: WTI website
12 Jun '18
What are the other entities within the group?




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