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Errrrr. GIT the number of shares in issue will exceed 7 billion. The debt is closer to 55 million. But what's 10% between friends.
Jaf, you comment, then me, just need green box comments, the trolls have arrived, must be news due, only turn up when its red and normality will resume. Just need DB for the full house and BINGO! I reckon green box comment first. You called Troajan correct with 6 years. 6 years, oh come on Troajan.
Well done if you are in NCYT. Stonking couple of weeks. Sadly it is of the back of a serious virus that is taking lives. Langtro, still prefer my numbers I do. China still on lock down, factories still closed. Not helping oil stocks at all, Grrrrr.
Why do you need to ask? do you not know how numbers work?
Spot on Dreamy
Whoever I have discussed Wres with the general view is why isnāt the sp so much higher (and not taking about 5p or 10p but at least .8. All said that they wouldnāt invest till it goes higher first because there is a clear lack of faith by the market. This lack of faith stems from the communication and PR in part, what happened to WLFE and ORM as well, even if our fact pattern is tainted, without proper PR we mine tungsten so until we consistently deliver there is no good will from the market...
May I humbly offer an explanation for the share price.
There was a short delay (a few weeks according the company, but let's call it a couple of months) because of the steel supply but the company is currently almost a year behind its own predictions. I am ignoring the inevitable comment by someone who will no doubt say that La Parrilla is 2.3112456 years ahead of the average time for setting up a mine but surely WRES took all that into account when they issued their time-scales.
Of course making 200 t.p.m. will be important. Of course doing so at $94/mtu will be important. But the reason IMHO why the share price has halved since the finance was achieved is that the market (and the people on here) have no idea what are the causes of the delays. WRES has a world class assets, state-of-the-art plant, top class engineers and a CEO who has done it all before. Until it is explained to the market why this combination has failed to date, the sp will stay depressed.
If people want a proper discussion on this, great. If people are just going to be abusive, don't bother as I will just ask for the whole thread to be deleted.
OMR
The market capitalisation at the time of that article was about Ā£18 million, and there were less than one third of the amount of shares in issue, the market capitalisation today is about Ā£21 million, we have circa 6.5 million shares in issue, we have debts of circa $50 million, weāve had a delay caused by the kit suppliers, WLFE has gone under, ORM has had to sell out, the price of tungsten is about $100 less per MTU, and we are awaiting proof that we can hit the 200 tons per month production target.
Whilst an increase in the amount of shares and a large amount of debt were to be expected, No one could have predicted that at one point tungsten would hit half of the price that it was, that the delay would happen or any of the other things that were out of our control, but which have had a negative effect upon the way that WRES is currently seen and therefore valued, BUT, providing we hit our production targets and providing that the price of tungsten stays the same or increases, all of us long term holders will see a massive rerate mate, itās just a matter of time.
Regarding my last post, I find it strange when investors see potential in a company and up shoots the SP and now, seven years later, that same company has financed, built and put into production an income earning mine with another income earning low cost mine about to become operational, and faces nothing but apathy from the same investors who got all excited over a scrappy pile of tailings. It's all very strange to me and probably several others on this BB.
OMR,will be checking in tommorrow see if the rise has begun !!:):)
1st. February 2013 from the Daily Mail.
Elsewhere in the mining sector, high flying mining junior W Resources (down 6 per cent today at 1.1p) was again among best performing stocks, climbing around 50 per cent, as the groupās La Parrilla tungsten project continues to excite investors.
The tailings project, which is set to generate ā¬7m a year for the Ā£18m valued firm, was signed off last week. And this week it revealed drill results that point to greater long term potential - with tungsten grades three times better than in previous holes.
It then topped off the positive week with a relatively small but important placing, raising Ā£858,500 of ātime criticalā cash for La Parrilla.
W Resources shares have gained about 250 per cent in the past month and investors in EMED Mining (up 1 per cent today at 11.75p) and Ormonde (unchanged today at 6.88p) will be hoping this performance is a sign of the sort of interest that could come their way in the months ahead as both firmās are awaiting government sign off for their own projects in Spain.
I would love to see these sort of numbers again sooner than later, here's hoping?