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I was told this the other day.
Now keep in mind that this is a company with hardly any money and has laid off most of its workers.
They have recently created a new role for a security manager, they've never needed one before. So they've found an extra 40k a year for this role. The job was never advertised, it was given to the husband of the woman who is the personal assistant to the CEO as he was unemployed.
Hard to believe this company will survive. They need to raise a massive amount of cash to take this into production. Who in their right mind would chuck any more cash at this. The management here are useless, just paying themselves a good wage until it goes back into receivership
Very few now remaining at the mine. The goal seems to be to reduce the wage bill as much as possible until they get the permit. Will they then sell to a company with the money to take this great resource into production or try to raise money? Either way Private investors usually get dumped on
Equipment will be fitted next month.
A test is planned for end of June, if successful the final permit will be pushed through.
Rumour control says once the permit is in place, the company will be sold to a company that has the cash to take this into production.
https://www.investegate.co.uk/tungsten-west-plc--tun-/rns/result-of-oversubscribed-convertible-loan-note/202304061513406805V/
Maybe its not all over yet.