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Member Info for JDwag


Member Since: Mon, 16th Jan 2012

Number of Share Chat Posts (all time): 3,023
Number of Share Chat Posts (last 30 days): 294

Last Posted: Sat 10:53


Post Distribution over the last 30 days




Sat 10:53


The current Copper Price is one of the key reasons why they will want a renegotiated deal with Orion. The original finance deal had the Base Copper Price for the lifetime of the Project at something like $7500 Per Tonne, current Copper prices are lower than that by nearly $1600 Per Tonne, obviously Rod and the BoD think that leaves the initial repayments of $4.5m per quarter a touch 'tight' when judging potential cash flow, add to this a period of 3-4 months to get the project up to full speed and they obviously thought they should go to Orion to alter the loan agreement to suit!

Orion will be used to this, as long as there is some extra 'candy' in it for them they won't be fussed.

JD

Fri 21:58


Obviously not an issue....the final numbers are obviously not there yet and any deal they would like / have to do with Orion not quite there yet also.....clearly no dead stick just yet!!!

JD
Fri 14:05


As part of any debt renegotiation I personally would like to see Orion taking a equity stake in WTI, as this would 'encourage' Orion to ensure that Tschudi being a success for WTI would also be a success for them too. It would also help in company governance IMHO as well as Orion would ensure management was not only looking after their debt but also their shareholding too.

When you look at Orion's website they have taken equity stakes in other companies they have loaned to in the very near past so it wouldn't be out of question.

JD
Fri 13:07


Thanks for that!

That tells a story in itself IMHO. No comment offered on renegotiating the Orion Contract, that says to me they are in discussions with them to do just that.

That in itself will take a good chunck of time to hammer those negotiations out.

JD
Fri 12:55


Still not massively convinced that there is too much of a problem here TBH. The initial copper recovery was only 30 days into the acid leaching process before suspension (not enough time to gauge anything IMHO).

For the full leaching to have the correct effects on the copper concentrate levels in the liquor could take anything from 3-4 months IMHO from first leaching in early / mid January, so despite getting the odd update here and there, I think it will be sometime late April before suspension is lifted and copper is being produced at 17,000 tpa or within tolerance levels close to that.

To be fair from the research I have done on similar companies the 3-4 month period from commencement of acidisation to full production is pretty normal as it takes time to understand everything and fine tune the process.

Still think they could be using this as leverage to get a refinancing deal out of Orion.

JD


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