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Vox market just go to profile of wti and its there
SEEMS VOX ALSO DONT LIKE THEM ...ON LSE
Where you find the RNS? Can’t see on II.
Some...I would want all my money back! Why go for less when there is a hugh chance they can get all plus more...which is the whole point of investing and they have a hugh holding so they must believe in the company GLA
or owning 24.% means they can at least get some of their money back perhaps when they have in a say how much they sell the assets for.
Well, owning 24.6% you would assume they would want the company to succeed. Be interesting to see how this pans out.
anyone can evaluate on Taday RNS 8.3 Form mention the Orion Resources? Thanks in advance
Cost of finance is certainly not helping here either - just servicing the Orion debt is costing around $11 million per year. It’s not dead yet, I just find it hard to see a solution which is going to prove beneficial to current shareholders. Like with any share though there are always two sides to every market and you’ll always get opposing opinions on value/direction etc
I would not profess to know anywhere near the amount that many do about mining but I have to say I think there is real mileage here. Of course I could be wrong but whenever I see too many bears on a thread I think here we go. Lets short this and before you know it little consortiums build up and put the pressure on the strugglin co. I know that anything I say will simply see them push push push with more negativity. It is because of this that I know that I wont be able to convince anyone this could be a good time to invest in Weatherly A company whose c/v has moved from �30M to �2.5M virtually overnight. A company whose 6 months interims in December made a loss of �500K after making a repayment of $1.5M to Orion plus a $8M depreciation allowance. Hmmm I wonder how much tax is available in the last 7 years for Weatherly? Anyone looked? Ok first assumption re Orion being the driving force behind what might be a fire sale. Well I don't agree. Who will be right well we will know within 6 months. I think Berg Aukas where we could deliver Nett �20M for a tiny �600k capital cost and is not available as security for Orion is interesting. The value of that mine is growing rapidly with the rising price of the resources. The Strategic review will love the potential there. Won't they? Kitumba is also an interesting proposition and Orion are happy for Weatherly to pursue a separate partner to progress this and again there is mileage here. Can you imagine how the sp would react here if a jv partner was found real quick. How about Jubilee (JLP) they have $50M available!!! The strategic review will I am sure be taking all of this into account and will present a plan that Orion will like. I believe with the Price of copper having risen by 10% and the Namibian dollar not as strong as last year then this is further good news. It was conjectured on ADVFN that Orion are pulling the strings here and all of a sudden are changing their perspective about their investment so I will conjecture that the price of copper in 12 months will be above $8000 and if it increases to the same extent as 2017 it could breach $8500/tonne Just think about that for a moment The elasticity of this company's performance is inexorably tied to the Price of Copper. In my opinion Orion think this too. The Chinese and The Indians are growing at a ridiculous rate and in Weatherlys case it is likely that the dollar will grow in strength which will also help the company's case as we have had a period last year where The Namibian dollar was doing rather well Not so in 2018. I am not the only person that sees the price of copper rising Just look in the media India and Chinese demand is insatiable and as we build up to The Olympics it will continue as The Chinese love a show piece. As for India their demand is growing at a rate. Lets not talk about the supply chain problems . My agenda? I have a holding here
Yes but FX is outside their control and the opposite could easily happen next quarter, so wouldn’t use that against company! LOM in doubt but not unreversible. Orion not injecting could be for a variety of reasons, but they have on the other hand given permission to seek alternative funding. So it’s not as bleak as people are pointing out! Guess this is the reason why SP is so so cheap! Once we get clarity and funding agreement with Orion, this price range will be history.
Latino - What's not to like? Did you miss the recent C1 costs (due to FX)? The LOM being in doubt after 2020? The USD125m of debt? That Orion are no longer injecting anymore cash (Kitumba acquisition). I was once invested with high optimism here, then things unfortunately went to pot!
From March interim results, what’s not to like! Strong quarter production Revenue up to US$47.7m compared to US$37.8m for the comparable period last year. Operating loss of US$0.5m compared to a loss of US$6.7m for the same period last year. Unrestricted cash at 31 December 2017 of US$3.4m with a further US$3.8m received against inventory shipped to port on 3 January 2018 compared to US$6.3m at June 2017.
BTB - researched this before buying in, and agree Orion will work with us. They have nothing to lose but a lot to gain..!
Apologies re typos predictive text aaaarrrggghhh
Your call about what you decide NAI!!
Jess there is no doubt that this investment is not without risks so wouldn't throw the kitchen sink at it. I have to say I am a long term holder here and I havd averaged down.I was invested at a much higher entry level.You Jess are lucky I believe well luckier than me.I dong havd a crystal ball so really couldn't advise you but I have no intention of selling these at present and nor will I accept any price below 0.4. That only values the company at a shade over £4M The strategic review will reveal all.Youf call aboug what you do. Read last month's RBS it will give you confidence for whatever you decide to do.Sorry I can't be of any further help.Lastly what is your view re POC.
Jess seriously you cant ask on here. Somebody said that it would be on 0.6 today, but seriously far from it. It was pump and dump day yesterday like Bahamas petrol is today. Do your own research and think if you should hold or dump. I can turn around and say Ferrum Crescent is worth 2 billion and has a market cap of 3 million and the share price will be 9 times the amount come Tuesday. Are you going to believe me?
Billthebank I’m in the same position I’ve invested at 0.4p. What do you think it will reach that again?
Missed that. Adds more weight.Also why did Orion agree to lend us an additional$10M if they were concerned. Happy I am invested but now need 0.4 to break even.
MRS They would still be an unsecured creditor so could still drive the company under but seriously it is not in their interest to do that.Weatherly can clearly repay some of the debt falling due and are in discussions for a long term solution.The strategy review taking Kitumba and Berg Aukas into account I am sure will see a positive way forward. At pres with Tschudi every 1% rise in the POC increases profitability by $1.2M.This share was way oversold IMO.Time will tell.
If Orion decided to play hardball (not saying they will as they’ve always been quite accommodating) then it could put the company into administration if it was unable to meet its debt obligations as they fell due. Unfortunately the shareholders wouldn’t have any say in that - plenty of examples of this happening elsewhere. The big problem here is the size of debt compared to the market cap of the company (getting on for 25x) so not a lot that can be done with equity to improve the situation. Debt is secured against Tschudi but wouldn’t mean the company wouldn’t still be liable for any outstanding amount.
Good post!! IMO there is deffo mileage here at this price and by the buys going through patient people can see that. Do you have an exit strategy JP or is that too cheeky to ask
Dint you think the shareholders might have a say in that?
All his factual posts that have been proven to be correct? Versus the complete rampfest on here yesterday, based upon nothing? Yeah. String him up. Boo. How dare he help clarify an RNS etc
Big day for anyone short, that's for sure.