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Disco. Please state where I have said MM is responsible for the speed of receipt of the grant? I have not. He is responsible for, once again, the need to raise funds. He has flipped and flopped from loan to loan. If he was reliant on a grant from a well known bureaucratic country in order to fund a need for cash then he is a fool. Thank the sky fairies that he isn't doing business in East Africa.. MM then publically blames All Mineral. Absolutely laughable. I bet All Mineral are loving that nice bit of PR. If I was All Mineral I'd be spitting tacks. Still no word on compensation. I wonder why? On the other note, would Santander lend the money without speaking to the Junta...100% yes, but it would be part of their wider risk management. Are you seriously telling me Santander rang the Governemnt and said 'Is WRES getting this grant?'. To which the civil servant (GDPR) said 'Yes'. Silly. 5million is small beans. You miss the point...why does he need the money if the tungsten is rolling off the plant as investors are led to believe. Money should be flooding in. Where are you Boythorpe with your insider knowledge. The loan from Caja was not due until May. I read that as MM sees a shortfall and it has grown by 2 million. Where has the Decemeber money gone? Maybe I am far too conservative in my cash burn figures. Maybe MM has a trick up his sleeve and is saving for a splash out.
Think I'll go with the market reaction.
I am not prepared to blame MM for the speed of receipt of the grant. I find that unfair. He might have been told it was coming. You and I know as much as each other.
Disco...err no. MM expected the grant in Q1. He said this. No official date given. Given everything is late with MM he should have planned and he did not. The Caja was fine until May. Why now? Why not wait until end of Q1? Are you saying he was reliant on the grant money now? That doesnt marry up with the money fountain does it? GiT has already told us this puppy will be lobbing out cash by the end of Q1...or has MM already hinted that the numbers wont be as expected. I will go with the latter. We are only just half way into Q1, not very good CFO'ing is it?
I'd expect the sp to drop a fraction today but only based on the timescale of the grant receipt being pushed out which is beyond the company's control it seems.
If you borrow 3m expecting to receive 5.3m and then you don't get the 5.3m you have a funding gap. That's just logical and I don't understand why folks are struggling with this concept.
it's all very well saying we borrowed enough last time so what's he doing, but if he fully expected the gap to be closed this quarter then we still have a gap that needs closing don't we!
Anyway, time of writing we've seen a huge sell of 400k shares. Hardly a drama imo.