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Thanks Troajan, so it's a case of wait and seeing what happens hoping it works well for us shareholders.
wilbury
your mixing liquidation up,with administation.
administration mean basically.....the comp is frozen/in LSE limbo
https://en.wikipedia.org/wiki/Administration_(law)
if you read certain posters history below,it tells you,their agenda
Well that's another one gone, just got a letter from my broker about Administration and removing the shares from my portfolio, so that's it brand new plant all bought and paid for by investors and now ready to be grabbed by someone for next to nothing to make loads of dosh and we get nothing, how sad is that because that to me is legalized robbery.
Fanny, pity you didn't listen to the lesson years ago.
A bit late now that you have lost all your money in Wres.
There endeth the lesson....
Has anyone tried getting in touch with Masterman just to get an idea on how he's feeling about this terrible thing that's happened to his project, I mean he must feel sick himself about how this has gone.
certain posters?....big themselves up,by belittling others
sound famililiar?
When one is dealing in a company where there are very different opinions on its future, the most stupid thing to do is to only read items that match your own point of view.
Many of here did precisely that. It is regrettable when people lose all their investment (I have been there 3 times) but it has to be said that many of those people have contributed to their own losses.
Troajan, will you stop chatting $hit
Enjoy your loss
and not forgeting,unlike orm
wres have a second mine.regua
and a gold licence
worth a few quid,in the balancing act
we know franny.....we're giving a balanced untrolling view
Clueless.
But if the administrator replaces masterman, perhaps the company won't have to pay his salary any longer. And if the administrator does actually manage to keep the company alive and operating, he'd be worth his fees, no?
Having said all that Tro...we are most likely fooked. Worked in Insolvency for 6 yrs....their fees will be tasty if they stay appointed for any length of time ;-(
orm
https://www.lse.co.uk/rns/ORM/completion-of-disposal-kzbnuaq4hwmg3f8.html
here's how they ended up.....
Gug, fortunately, I've never been involved with a company that had anything to do with administration or insolvency, so I'm no expert in the field. Please correct me if I'm wrong, but as I remember it, administration and liquidation are two different things. The goal of administration is to see if the company can be saved as a going concern while under protection from creditors. The administrator can decide the only course of action is to sell some of the assets, but he can also try to work out some sort of a deal with the creditors to allow the company to continue, or in this case, resume operations. If neither of these is feasible, of course, the receiver is just around the corner and it's then liquidation time. I agree that in a liquidation there probably won't be anything for us. But before throwing in the towel, I think it would be a good idea to see what the administrator plans to do.
lol...just trying to add a bit of balance,to my buddies
hope your ok muv and not suffering the inflation problems
check out ormonde mining,about 3/4 years back
cant remember the exact deal
they owed oaktree around $110 million.
oaktree took control/ownership of the mine.
ormond came out with a $5/6 mill payout and leaving the comp,to start a fresh
wolfe mining....were'nt so lucky..
The majority of people on here I have concluded know nothing about business, If they make any money on the stock market it just luck.
WRES is dead. In liquidation with debts well in excess of $85-90m
Shareholders will get nothing.
If that is not crystal clear to you then go back to primary school .
In respect to assets, if they were to be sold for $10-15m or less then someone can make a go of this business. Its always been debt and overly optimistic production numbers that have been the issue. However, that will be no benefit at all to any current WRES shareholder.
Whatever you had invested in WRES is gone.
Troajan - Yes, perhaps it is a bit premature to jump to conclusions about asset sales. I also try to keep a balanced view of things (bleedin' difficult at times!) and an alternative possibility is that the creditors have simply lost faith in mm's ability to manage the company and have forced him to accept an administrator to try to salvage the situation if possible, which it itself would be no bad thing. As you say, at the moment the company may be on life support, but it IS still breathing. We await developments.
Hello Troajan, nice to see you're trying to keep a positive attitude towards things. Yes, you do get bashed, but you're probably one of the few investors who came out relatively unscathed, if not actually in profit, which suggests your strategy paid off, so well done for that.
P.S. Donations gratefully received to my poor fund.....Guv.
ok,things aint looking good,we all know that.
but to give some balance
the comps still ongoing
if they can get the mine to work,its capable of $200 mill revenues,over 6 years
metal prices are key,long term forecasts are under supply
gas prices are back on the low
debt timelines can be extended
no doubt,the usual bashers,will bash my post....as always
but thats a balanced view.
I have no doubt that this is the end, and for those that are hopeful for a few crumbs, don’t worry, there will be nothing for shareholders.
I’m bitterly disappointed by Masterman and his antics over many years, like many others I suppose. Good money gone and very big lessons learnt!
That's the big question. My guess is that the creditors have decided that wres will never be profitable enough as an operating company to pay off its debts, at least not without a huge injection of new capital, which it will never get. So a sale of assets is the only alternative. If that's what's actually happening, I hope they can find some investors with deep pockets who will pay decent prices and that there are a few crumbs left over for the shareholders. But that's probably wishful thinking, I'm afraid.
Troajan, are you in denial ?.
Have you not read the last few posts, it's all over, yet you are still posting gas and tin prices !!.
I shudder to think how much you have lost with those £3k top up's you were telling us you were making every second day.
Hope you can turn things around.
Atvb
if your dutch.lol
https://www.investing.com/commodities/dutch-ttf-gas-c1-futures
tin price
https://markets.businessinsider.com/commodities/tin-price
toajan post 22.05...11.01.23
weather wet
humidity 22.
temp 11oc
LOL.