Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I feel sorry for his wife , him being right all the time !
L200. I'm looking forward to a UT at the sell level.......The Stock exchange will be wrong on that occasion of course
L200, I’m sure you’ll get over it.
Golfpro
You are correct there was no plan for a 50% dilution, there was no expectation of the massive flooding that occurred in February thanks to the unprecedented rainfall, had the rainfall not happened, the work would have taken place once WRES was producing at T2 levels and would have been paid for from income rather than from the proceeds of a placing, but the reality is that the flooding happened and the work had to be done now, which left them with no option but to raise the cash.
The fact that the sp will open in the red tells you that the closing price yesterday was not 8p.
It has nothing to do with the 0.1 of a difference, it is his arrogance of thinking he is correct all the time.
GUG, I’m perfectly happy for you both to be right, in your own universes.
Life is very good and getting much better, thank you. I hope your day is also good.
:-)
K3VMC "You may be arguing with git over 0.1p difference in closing price"
No argument. He is wrong. I am right. Hope you're feeling better today
golfpro99
“ I bet the plan wasn’t a 50% dilution to pay for it..”
No, it wasn’t. In fact, there was no plan for 50% dilution to pay for anything. The plans were for a quick build, ramp up and financial success. That’s the absolute truth.
That was then, this is now. Mistakes were made, stuff happened. There you go!
More truth, we are where we are and this is where we leave from. Shout, scream, cry your eyes out - that changes nothing. Get on, get off, whenever you want. You owe wres nothing and it owes you nothing. Or, you can hang around and moan with the trolls. Entirely up to you, but, in truth, apart from moaning being intermittently irritating, in a sort of teenage whiny way, I don’t think any of us care.
The sp is BEYOND trashed, so take it away!
Absolutely no offence meant.
I bet the plan wasn’t a 50% dilution to pay for it..
GUG
“ Dreamingof. Yes the question was asked, The answer was that it was not possible. Yes, it was something they were always going to have to do (but didn't tell anyone)”
You may be arguing with git over 0.1p difference in closing price, and I would not want to take sides in such an important debate, but I can tell you, categorically, that the plan was ALWAYS, to access the ore below the water table. It was pointed out by Sr de la Fuente on our grand mine visit.
You may choose to disbelieve me, but that’s up to you.
:-))
Thank you to you and GUG. Today’s dilution is a big hit to all of us, we have said numerous times before that this will hopefully be it and have been disappointed so let’s see the results for Q2.
Btw did we find out if MM got his consulting fee for 2020?
Dreamy
Someone did ask if they could have done a temporary fix, but that was impossible the volume of water was / is, massive. It was intimated that they were intending to do something permanent anyway, my impression was that they would have done it later when they had the cash from production, as they needed a larger water supply for the plant going forwards, but that the unexpected flooding forced their hand.
Dreamingof. Yes the question was asked, The answer was that it was not possible. Yes, it was something they were always going to have to do (but didn't tell anyone)
But I read someone say that on the call one of the three said the plan was for a permanent solution before the flooding even happened, or did I misunderstand, did anyone ask if they could have done a temp fix.
GIT, spot on observation. Historical information or experience can often lead to considering risks differently. If an area has not flooded for some years or decades the reasonable assumption would be that it does not flood very often, if at all. I think some people bought house in Somerset believing that they dont get flooded, but unusual events (lets call it rainfall for arguments sake) and many many were flooded a few years back. local knowledge would have given them reasurance that they do not get flooded. Mind you so much rehashing of old criticism, by the constant disinterested, now that is what you get if you're trying to get 50 posts in for yet another a day of negative postings. Do people get paid for doing that?
GIT "as they had local knowledge from when the mine was previously operational many years ago"
Clearly didn't extend to any knowledge on water table. LOL
GIT, it could be the hole is more than just a hole when it comes to what it facilitates. There is scheelite all over the place. i will be going on a site vist if they do one in the autumn. I have expectations of increased production and higher grade ores. It would make a nice contrast to todays debacle.
Troajan
I don’t know the depth mate, but what was interesting was when they spoke about paying out in order to mine a larger area further to the west that is believed to be an extension of the high grade area, which I can only presume is outside of the current mine footprint.
I know that they have always believed that the tungsten and tin was in areas outside of our initial mine footprint, as they had local knowledge from when the mine was previously operational many years ago.
should be ok then m8,if there's a drought.
how far down,are they mining?