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devilsbeast - why would you assume that I'm right when I say that the BlackRock interest payments are paid quarterly?
Why don't you verify it yourself.
Or do you believe everything you read on a BB.
devilsbeast - why would you assume that I'm right when I say that the BlackRock interest payments are paid quarterly?
Why don't you verify it yourself.
Or do you believe everything you read on a BB.
DB
“I am happy to correct the numbers Mogwhy, but it is at a critical point.”
Good. You need to correct them.
“There are wages to be paid and other fixed costs.”
Well, yes. I think we knew wages had to be paid, but thanks for that.
“ Others have suggested a cash burn of 700k a month. (if you include the interest that is accumulating on a monthly basis)”
That’s a guess, I take it? Who suggested that? Inside information or just a lie?
@WRES need to not only secure the additional loan from somewhere, but they need to have profit positive income from production and soon.”
Anyone can see that. You doubt it, I don’t.
“@North of $43m(I'm including the 700k that has been deferred) is owed to Blackrock, $3m to Caja Rural and possibly soon another $1m to a yet to be disclosed/agreed source. Getting towards $50m when you get to Feb.”
Fantasy figures. Please justify that figure.
“Failure to profitably produce is not an option”
No sh11t Sherlock!! What do you think they are doing? Crushing dust??
Eat my shorts!!
:-))
Beware of the lies and scaremongering being spread by devilsbeast.
Here's an example.
"Leaves current capital 522k.
Next months interest payment alone is 700k + Salaries, Fixed costs etc etc..."
The company makes quarterly interest payments to BlackRock, not monthly.
The next payment is due mid-February.
BlackRock are obviously supportive of the company by their actions.
The directors making unsecured loans to the company are an indication of their belief in the viability of the project going forward.
Despite what the bashers here would have you believe, wres is producing tunsten and tin concentrate. This has been RNS'd.
Our off-takers pay us within a few days of delivery.
So the company is generating some revenue and that will only increase in the following weeks and months.
Along with the incoming funding, director support and 5.3m grant in Q1, there is a clear pathway to profitable production.
Cash flow sorted now until receipt of 5m Euro grant.
Hopefully production numbers will be on the move upwards by then. Fair play to the directors for stumping up the loans. Equity purchases at 0.5p on the way soon, Regua coming on board as well...looking better now