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Agreed the grant money was indeed security for effectively a "bridging loan" with Santander now repaid. Before providing that facility Santander would have undertaken full "due diligence" of WRES & I suspect will be keeping in close contact, as production builds, with the view of refinancing the complete operation.
BC
I'll ignore head the resident ostrich with his head in the sand. Passing comment on things he hasn't read. Rubbish as always.
Geng you said "Wouldn't it make sense to pay them off out of the grant - watch this space I reckon?"
The grant money has gone. It was security for a bank loan. The bank loan has now been settled with no surplus remaining. The £250k that remains unconverted could definitely be got rid of from other means.
Geng
If he really posted that then he hasn’t got a clue what he’s talking about.
Atlas have converted all bar £250,000 of the money that WRES have borrowed from them, Atlas in accordance with the contractual arrangements can convert that £250,000 into shares whenever they like and WRES cannot just decide that they will repay them, Atlas and only Atlas could decide if they were prepared to allow repayment in cash, but, if you were them, given the expected increase in production and therefore likely increase in the SP, would you not take advantage of a 5% reduction in the SP from the 3 consecutive days that you can choose yourself.
GUG "Wres only owe Atlas 250k, that would not really be a highlight. When they do the next debt raise/placing I do hope they earmark 250k to settle off Atlas, you don't need them hanging around with the CLN. That would be a sensible thing to do"
Wouldn't it make sense to pay them off out of the grant - watch this space I reckon?
BTW- forget all this fundamental nonsense - the chart has broken out - 10p will seem very cheep in a few months time.
With flooding issues out of the way, and they really should be by q4, and 7 days a week 150 tons really is a reasonable expectation. To be fair, the flooding issue was not expected and we were starting to improve prior to that. Between now and q4 we will be moving in the direction of more production, how quickly there’s progress on that I don’t know. If it gets accelerated then obviously earlier. If Regua licensing gets sorted then even sooner.
Going to 7 days a week by q4 signals that there is an expectation of the plant being fully available for operation - (we have not been near this level previously) then add to that utilisation on the system was quoted at 84% ( which is a goodly level for most systems) it really is looking promising for levels of output.
Funny isn't it. I agree with Troajan and Getinthere spouts his usual rubbish. Get your head out of the sand.
Troajan
You really must stop posting facts that don’t coincide with the agenda of those that wish WRES to fail mate, you should know by now they don’t like facts mate ;-)
yes bud
0r $15 mill ebidta(or $120+ mill over 6 years)
on $35 mill revenues
and whats our total debt....$60 mill ish.
https://wresources.com/wp-content/uploads/202104-Shard-Capital-WRES-Research-Note.pdf
Troajan "the mcap should re rate,if we get to that tonnage
£8 milll mcap?"
If you get to 150t a month of W, I would agree, Seems like an impossible dream though. Always some reason not to.
"so if tge the mine goes 24/7 on a 7 day per week....then 150t is on the cards
pay off atlas"
Wres only owe Atlas 250k, that would not really be a highlight. When they do the next debt raise/placing I do hope they earmark 250k to settle off Atlas, you don't need them hanging around with the CLN. That would be a sensible thing to do
ver true gug
and we know the mill is cabable of 69t's in 3 weeks and on a 5 day week
so if tge the mine goes 24/7 on a 7 day per week....then 150t is on the cards
pay off atlas
the mcap should re rate,if we get to that tonnage
£8 milll mcap?