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So lunch time passes but I get it now - date not specified. Gotcha. Same time tomorrow?
Billthebank, if you read the interims it states that WTI actually paid off $1.5m of debts to Orion.Tschudi is actually generating a fare amount of cash, clever accounting is wiping out profits for tax purposes, like depreciation $8m !!
Are Orions debts secured against the company or against Tschudi ?? If against Tschudi surely Orion calling in their debt would not send WTI into administration but they would lose Tschudi? Up until a few weeks ago Orion were fully behind the purchase and funding of Kitumba. They changed their mind because a bit of paperwork wasn't in place. That paperwork is now in place. If WTI went elsewhere for funding, which is something WTI are looking in to, surely no-one would lend them money if they thought Orion could pull the plug and send WTI under at any time they wished. I am inclined to think Orion cannot send WTI under by calling in their debts but not an expert
Additionally: There's a problem with recovery rates and leach times due to the ore type at lower levels. WTI have said no conclusions will be available until July but the did take a write down. The plan is to use forced aeration and microbes but we don't currently know the recovery rates. Tschudi could still be fully developed, just depends on Cu price. The resource is open at depth although water ingress and stripping make this expensive to mine. The debt liability of the PLC is a major obstacle to developing the other assets but realistically developing is the only way to realise value. CAPEX Berg Aukas $54m, Central Ops $10m, Kitumba $200m Shareholder approval is required for any significant changes so the Board can't simply sell and give the proceeds to Orion without approval, but then why would shareholders approve if there was nothing in it for them.
can you please look into 4kandles post .......
No, this isn't the way Orion operate. If they wanted the whole company all they don't have to buy any more shares - all they have to do is call in the debt which is secured against (and dwarfs) the assets of WTI. (read insolvent) So Orion are clearly in no hurry to take the company but they will do so if buyers are not forthcoming. Whatever happens, ordinary shareholders will most likely lose everything.
Topped up again . Any good news could see this re rate to 3 month high . 3.2p
Orion don't need many more shares to Reach the AIM take Over point . Has this been planned .
looks like it's lunchtime but nobody's feeling peckish? LOL
Way I see it you should listen to all but make your own decisions, in this way you can only blame yourself!
1 ORION OWN NEARLY 30% of the company 2 WTI pres valued at under �3M 3 BERG AUKAS WILL COST AN ADDITIONAL �600K NPV�74M COSTS �54M 4 Weatherly have stated that we cannot pay all the Orion debts due That is all not any. BTW not very long ago it was any!! 5 Orion and WTI are in talks re long term restructuring of the whole debt 6 Orion would not want the company to fail now would it see 1! 7 There is a strategic review underway 8 The POC is rising and many believe this will rise further 9 Tschudi water issue is being looked at to see what options are open to the company and of course if the POC rises to $8000 who knows what that would mean in terms of going beyond pit level 5 Lastly Orion aren't interested in facilitating Kitumba but are happy for Weatherly to look at other partners/ C/V �3M Ridiculous IMO Time will tell. No doubt though there are risks involved but I believe that is well in the price
GN is a guy u should listen too.take his advice.very knowledgeable guy
Exactly, the RNS/disclosure categorically states that it is on behalf of the offeree (i.e. WTI), so it is laughable that some are claiming that it is indicative of an offer having been made! Would be different if there had been a disclosure from an offeror!
Someone just pay 0.29p? Mms are taking he buscuit !
Correct ‘nearly a no brainer’ !
Totally agree, an agreement is on the cards and some of us are seeing it crystal clear! Time will tell but then me it’s a no brainer..!
It’s all spelt out in black and white in the rns, so no room for people’s interpretation or opinions required. GLA
Apologies re spelling In a rush
Remember that Orion own29% of the company so they wouldnt want to do that partic in a mine that is oresently making money and if the POC rises?? I am sure that Orion are ooking at this medium term I am sure the strategic review is in place to come up with a plan which would include a repayment prog taht was achievable After all if and I am not saying it will happen the company is worth �2.5M presently and Orions stake is worth therefore �800K If the sp rises to 3p their stake is worth �8M so do you not think Orion who recently provided a working facility of $10M would be very interested in a plan that gave them a way forward rather than see the co go into oblivion? I am so looking forward to seeing the results of that review No point in hypothesising now is there.
Whats happening at 0.43??
Except that this OPD Form 8 has been made on behalf of the offeree, not an offeror - as stated on the form that everyone got so excited about! It is standard procedure when a company places itself into an offer period under Takeover Panel rules! I’ve seen loads of these over the years.
who is he Garyn ?i take him as a pinch of salt ...is he from the Weatherly..Board ?
Forget anybody’s interpretation - below is factual and if you do a little research you’ll find this in 26th April rns...you can thank me later!
1. Read Garyn's comments on what form 8.3 and form 8 documents are. You're huffing and puffing over nothing 2. The P&D has finished, folks have moved on
Step 1 - Interested parties intending to make proposal must first complete Opening Position Disclosure - meaning we have an interested party already! Step 2 - BOD to Provide them with certain to business information - happening now! Company 26/04 sale RNS extract “..Following this announcement, the Company is now considered to be in an "offer period" as defined in the Code, and the dealing disclosure requirements set out below will apply. Parties with an interest in making a proposal should contact Numis or Treadstone through the contact details set out at the end of this announcement. It is currently expected that any party interested in participating in the formal sale process will, at the appropriate time, enter into a non-disclosure agreement and standstill arrangement with Weatherly on terms satisfactory to the Board of Weatherly...”