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mogwhy,
Thanks for that. Yes, some figures but unfortunately not enough to construct an accurate model. In fairness, such detail would be very sensitive so I wouldn't have expected to find it in the public domain.
mogwhy,
That might be helpful - I don't remember seeing that. Is it available on-line please ?
jaf, there is a coarse breakdown of opex on page 4 of the FID.
mogwhy,
I have always been concerned about cash flow with any AIM company. None of us on here are privy to the details of WRES's opex - as I said before, I do not even know the proportion of fixed costs to variable costs. All I do know is what the company has told us - that the project was fully funded and yet more money was raised without detailed explanation. Also that six months ago, the company was expecting $15.2m ebitda for 2019 and now is going to get nowhere near that amount.
All these factors taken together meant that in April, I no longer felt that an investment here was a good risk / reward for me. I feel too many people are looking at the revenue but not looking enough at the costs and cash flow.
But, as they all say, DYOR.
jaf - which components of the opex do think wres may not be able to achieve ?
Or is it a general concern.
wasp,
It's not the production figures I want - I am sure WRES will produce somewhere near the proposed output eventually. It's the cost figures that matter. Any company can produce at a loss !
That’s ok Jaf.
You must be tempted to get back in now or are you waiting for some production figures?
Wasp,
Sorry I didn’t look at slide 6. But it still conflicts with slides 26 and 27.
“Dollars”
Jaf, get buying back in quick. I think it’s time.
Look at slide 6 starting q2 2019 it definitely says 20million euros.
What exchange rate you use is up to you but I work on the google one of 1.24.
If you do the calculation what do you get?
Troajan,
My post at 09:47 today: 'The June presentation does NOT say £16m ebitda in 2020. It does not mention 2020 - it merely says Year 1, and the figure quoted is 15.2m DOLLARS not Pounds.'
Your post at 10:27 today: 'it says here bud....$20 mill is £16 mill sterling...not your £15 mill sterling.......fact m8'
1. I do not even mention £15m sterling so I do not know to what you are referring.
2. The June 2019 presentation says on slide 26 that there will be $15.2m ebitda in Year 1 and then the next slide 27 says no ebitda for Year 1 and $15.2m ebitda for year 2. There is no mention of $20m ebitda anywhere for either year 1 or year 2.
Anyway, as Kev points out, there are no facts for 2020. There are only projections that the company has made, which up to now have not been worth the paper they are printed on. In the February 2019 presentation, which is now conveniently not on the web site but I have kept a copy, the company was clearly showing for 2019 (not Year1) $15.2m ebitda, yet in 5 months that is now down to zero on the June 2019 presentation slide 27.
jaf
it says here bud....$20 mill is £16 mill sterling...not your £15 mill sterling.......fact m8
https://www.google.co.uk/search?safe=strict&source=hp&ei=rcE2XYztMNGTlwSs-LiAAg&q=%2420k+converted+to+sterling&oq=%2420k+converted+to+sterling&gs_l=psy-ab.12...19049.57958..61615...1.0..0.197.2420.21j7......0....1..gws-wiz.....0..0i131j0j0i70i258j0i22i30j33i22i29i30j33i21j33i160.j1y7K-OLB70&ved=0ahUKEwjM97imzMrjAhXRyYUKHSw8DiAQ4dUDCAo
.
and although it doesnt say 2020...the next years ebidta is 2021....so logic dictates the $20 mill is the year before 2021....yes
.
unless of course,you think 2020 will be strangely,missed out.
.
so yes jaf....my post was factual....unless u think 2020 was missed out.
.
and you were indeed,comparing our corporate loan rate to an high street bank rate,which is totally wrong and misleading
.....so you actually....gave a false statement?...yes
.
dh also reckons eggchaser and hbob have sold,without any postal evidence...so another no factual post,.......so lets have some balance jaf and not just being selective?
Jaf.
Someone has to tell you this, so it might as well be me.
There are NO facts about 2020.
None, none, none, none.
No facts. Of any kind.
Sorry.
Troajan,
All I ask is for people to keep to the facts.
The June presentation does NOT say £16m ebitda in 2020. It does not mention 2020 - it merely says Year 1, and the figure quoted is 15.2m DOLLARS not Pounds.
expected and £32 mill theyear after in 2021
https://wresources.com/wp-content/uploads/WRES-Presentation-June-2019.pdf
.
and that'z not including the second high grade tungsten mine,expected to come on line,next year.....and awaiting regua's FID and jorc upgrade.
.
so two income streams on the menu.