Agree with you, no one wants to read of such things happening in the work place, we can only hope that Weatherly controls their contractor to improve safety requirements. I will return to what I see as sly innuendo from Hanser on another day, it doesnt seem appropriate today. ATB
Yes, debate is good. That’s why we post on the BB to share views and increase our knowledge. We should expect constructive challenge and be prepared to defend our views with considered argument and analysis. You are also correct in that AIM reporting can be a bit of a minefield. Anyone can read and quote RNS’s but often the message is in what is not said. A recent example…… the end Feb cash position was reported as $6.9M some $3.4M better than the December number. They ‘d like us to believe that is good, but without the balance sheet you can’t tell whether or not the end Feb supplier payment run of circa $3M will have gone through the books as 1 March. I can guess the answer. Furthermore, the RNS is silent on other commitments such as the loan repays due to Dreyfus – $0.9M in March and a further $1.5M in July. So, out of the $6.9M WTI may in reality only have a working headroom of some $1.5M. Hence my previously articulated views and analysis on the current performance and cash generation. Let's wait see what transpires in the next few weeks.
A friend of mine is fairly deep in to KMR, and they have just issued a very good update. but the sp went down, so he is weeping. Sentiment towards miners, big and small, is going through one of those periods. As long as the company are on the right track, it will correct itself in time. I've bought more at the lows, wish I had funds to add more right now, because I think these are an absolute steal at this level. Thats the market though, the bargains present themselves when you can't take full advantage.
Must admit to not being too good on financial analysis myself, particularly on AIM where figures can be interpreted to suit and all is never clear-cut. I am however aware of Weatherly's plans for development, both central opps and Tschudi, and assume that they must have a financial team working on the logistics of their implementation. I can only hope that they are on the ball. Unfortunately even the best laid plans are subject to market conditions but it does apper to me that sentiment plays a large part regarding this share, and when it takes a tumble for whatever reason that tumble is steep and rapid. Most frustrtatingly we don't seem to recover lost ground and struggle to claw back the odd point. In favourable conditions the previous Tschudi RNS should have lifted us much higher IMO and we shouldn't have landed where we currently are despite of the subsequent financial report. Will the next Tschudi RNS provide the sp with the boost it needs? Will the quarterly show a decent production quota? Will eithe improve sentiment here?......we wait and see.
The Central Operations continue to serve their original strategic purpose of providing Weatherly with a platform to generate cashflow, enabling us to pull together a strong operating base and establish a team of people capable of driving the business through its next stage of growth. Old Matchless offers us an additional opportunity to reduce our unit costs and give our operating revenues a significant boost through increased copper production. We are looking forward to driving the business through an exciting period in 2013."
During the quarter the Weatherly Board approved a work program for the development of the Old Matchless Mine, which will effectively double the production of an asset with an already sound operating base. It will also enable the company to make increased use of the underutilised Otjihase concentrator and reduce the per unit cash cost of production at Central Operations.
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