Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
WK
‘The mine and all of its machinery and infrastructure are being maintained in a sale ready state, with no production expected on site in 2024, as has been the case for all of 2023. The stockpile of inventory from the 2022 mine season is being held in secure storage off site. As previously notified, discussions regarding the sale of the 2022 concentrate remain ongoing.’
That was Dec 23.
No production. And no plan B if the sale doesn’t happen.
Unbelievable…how can this be stated with a straight face?
‘Mining at WK can generate significant revenue, millions of pounds per year. Exploration in Russia is cheap. That revenue could keep WK running nicely and upgrade reserves at MT too. ‘
makeabundle
‘the bidders are still at the table…’
what does that actually mean?
having no names mean it cannot be challenged… any of said companies that might have kicked some tyres 5 yrs back and gone cold aren’t going to be ****d… who are these ‘bidders’?
MyIPA
The same could be said of the rampers, why do they continue, after 5 years passionately peddling this merry go round….
Works both ways. Good luck taking confidence from the polymetal deal… that has absolutely nothing in common with EUA…. Zilch
Shortly
‘SP is about to turn…’
Based on what exactly?
There is absolutely no programme to work to.
How would any new investor asses this company?
No mining plan, no cash flow forecast, no strategy, no mining and nothing of any substance about any sale
Shortly
‘ The BOD were previously hopeful of a sale in December. It's now February, so if nothing has changed it's highly likely to close in Q1. ’
Highly likely??
Based on what?
Visibility still ‘low’ on next update I’m afraid
No business in the world ever would not have sold that concentrate as quick as possible, esp an explorer/junior
They clearly can’t sell it.
Speculating that prices may increase in the future … etc is utter rubbish.
Wonder what the storage cost is… anyone actually seen it?
Pompal
You mean this belter of a non-statement
‘ The Board and senior executives remain hopeful of a successful conclusion to the sale of assets process and we look forward to updating our shareholders in this regard as appropriate."
I do not see anything that changes from ‘low visibility’.
If anything it reinforces it!!
In the RNS last year the BoD stated that visibility on the next sales update was ‘low’.
CS verbally then said ‘hopeful’ of a sale before year end
With the cash reserves now depleting and not being replenished it follows that the ‘visibility ’ level on when the update will be should start to improve (not necessarily for the best reasons mind)
It cannot remain’low’ given the runway is rapidly running out…visability on sales update will therefore transition to ‘high’ once the cash reserves have gone. Good news, yeah….
The update however is increasingly likely to be ‘unable to find a buyer ….’
Imo
Shortly
DD complete