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Hawaii
I suspect that MM was and is hoping to give us some good news, though unfortunately I doubt very much that it will be refinancing, as I believe that we will have to have at least two consecutive quarters of increasing production before lenders are likely to be prepared to provide the amount of cash we need at a reasonable rate (circa 6% I would think)
In the meantime I’m expecting Atlas to convert their remaining £250,000, by my reckoning they have until close of play next Monday if they want to get the lowest possible price, based upon the average of 9p, discounted down to 8.55p, for the 3 days 19th - 21st April - time will tell.
Anyway I fully expect that at long, long last, WRES are now finally heading in the right direction ;-)
Hawaii, I agree with much of that. For the refinancing, I think that’s very achievable, but requires some good production numbers on the table- so may need a quarter to get that. Very short term a PIK from Blackrock would perhaps be best of other options - if offered.
With regard to MM, he might be wealthy in my terms, but I don’t think he is that much so. So his investment here is considerable in terms of his portfolio as I understand things - I do not have access to information on his personal financial situation and go on what he has said on the matter.
With regard to improving production, that is described in the RNS and the numbers although not indicating an immediate big increase, point towards big improvement other two or three quarters.
Stick on top of that increasing metal prices, grant waiting to be paid and licensing from Portugal its looking good, especially if you’re able to buy at these prices.
Given stocks on mining can turn on a sixpence, we might even get a sudden upswing. So for me glad, I am not out of these over the weekend.
I remain convinced some form of re-financing is going on behind the scenes, there has not been any obvious signs of Atlas selling which adds some strength to the prospect. Lenders prefer to work with companies during the early stages of production, it is not unusual to have teething problems, lets let's wait and see, I would hope for some update within the next 7-10 trading sessions, certainly by month end.
Another aspect, whilst MM is a extremely wealthy man he would not buy £130,000 of shares if he was about to embark on heavily discounted placing - my view remains the Q&A has been delayed as they are working on something material.
As for production, I can see no reason why the improving situation cannot continue, the weather is now perfect for operations. I have been adding to my position BTW.
Dreamy, I only said "could be". Anyway, sarcasm, as we all know, is the lowest form of wit, I'll leave that for certain others to entertain us with.
OMR...I take that as a joke as otherwise would be embarrassed for you. First off, he knew about the flight restrictions before the announcement..second he has an executive director on the ground there...third, it didn’t stop him doing the Q&A last time....fourth, why on earth will it make it harder to answer questions, he isn’t operating the machines lol.... to excuse the inexcusable just insults people’s intelligence.so let’s just say you were being sarcastic before anyone takes you seriously and ruins your reputation.
"Australians have been banned from leaving the country since March 2020 ".
The above is part of a recent news headline And could be part of the reason why MM has not held the Q & A session. I know even Australia has the t'interweb but if MM cannot travel to Europe to see things first hand, then it makes answering questions a lot harder. Having said that, a small statement to that effect would be helpful.
Anyhoos, it's Friday and Safety won't be out of these over the weekend.