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Starter
We know from the last RNS that WRES needs A further €1 million and that we will then be getting the €5.3 million from the grant in Q1 (and yes I know that we have borrowed €3 million against that, but it was over 15 months at 1.75%, and it will be repaid over the 15 months so we will still get the €5.3 million to utilise in Q1) so providing we get the €1 million I believe we will be fine.
I accept that it would be good to know what we are producing but doubt that we will get the figures for Q4 2019 until January 2020, but time will tell.
Production has always been the key, if, we can produce at or close to the projected levels then the company will succeed and the SP will be many multiples of the current price, again time will tell.
How many shares do you hold ? And would you put more money in if asked to do so ?
Wouldn’t...typo
Without better updates and communication on the plant ramp up etc I would put another penny in. I’m sitting on my hands..
Production figures are the only thing that will calm the storm. If there’s no tonnage update till January then we’ll continue in this price range.
I would be giving weekly figures until we hit max capacity..
Herein lies the problem. It is not how much cash is required it is clarity if and when production can support the business. We were told the old concentrator would produce 20t per month increasing to 40t per month when fed ore not tailings. The reality was less than 30t in the first half year. First ore was 17 October and after 22 days production was just over 5t. This is risory. I agree that any plant should be capable of meaningful production immediately after commissioning. So until there is confirmation of this the share price will continue to hover around this near two year low.
Golf pro
I think that it was previously announced that we would get quarterly production figures from the last quarter of the year onwards do that would be the Oct - Nov -Dec quarter the figures for which won’t be available until January mate.
But tell me, you’ve been invested here for a long time I believe, so given the current situation, if, he asked current holders to subscribe for additional shares in order to raise the money needed to see us through the ramp up period, would you be willing to partake ?
The way I see it is that if enough of us were prepared to put cash in then it would be a better option than some of the other options, particularly CLNs
Having said that I still think he will get the deal done that he is currently negotiating.
I agree golfers. I think it was you that asked on this at the AGM. I also think the BOD might well agree too. So I reckon news must be forthcoming in the near future.
He needs to tell us where we are with production rates and targets over the next few months..what are we producing right now?
If investors look at the latest RNS it is clear that MM is trying to secure a minimum of €1 million which at current rates is about £856,000.
In the scheme of things this is a small amount of money and I have little doubt that he will be able to arrange this through the process that he is already engaged in, but, if he isn’t able to do so there is nothing stopping him from asking current investors if they are prepared to stump up additional cash so as to plug this small temporary funding requirement and I for one would be happy to partake in such a fund raise at the same rate as has just been agreed in the latest RNS, I am also sure that many other current investors would be willing to invest more on such terms.
So, the bottom line is that funding can and will be found.