Member Info for Deranger

I know 100% that Shell have discussed the possibility of takeover. No idea about the others.

They won't be producing anything for another 2 years yet, so just cash burn until then. I believe they'll be an opportunity to buy well below a penny before then. Just my opinion.

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

Buy in 18 months time, you'll get them at 0.5p or less by then.

Oh there it is.

EA dragging their feet. Wouldn't be surprised if no permit issued before February.

Rumour control at the Miners arms says Tungsten west will cease to exist soon.

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

Https://www.plymouthherald.co.uk/news/plymouth-news/tungsten-west-needs-65m-plymouth-8688111?fbclid=IwAR2EIsfmmF6LQUvYs-YF-2A9xoCfOsyXrrmp-VTgGeFXEe4PSUQlhi763WQ

Having said that I don't know exactly when the application was made as I've not seen many of the lads for a while. More getting laid off again soon.

Might be sooner absolutely.

But 16 weeks if it takes that long is pretty much end of the year.

Testing completed

Final permit applied for and expected to be approved by the end of year.

Tests are still ongoing. Been getting mixed messages on how they're going.

The main problem now though is there's absolutely no money to take this forward. They'll have to raise more from somewhere.

Is underway now. Noise monitoring teams on site.

Valuation,

Noise test is scheduled for the end of this month.

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.

They are now purchasing some type of acoustic boxes to reduce the noise. This will be completed in about 2 or 3 months, then the final permit can be reapplied for.

https://www.investegate.co.uk/tungsten-west-plc--tun-/rns/result-of-oversubscribed-convertible-loan-note/202304061513406805V/
Maybe its not all over yet.

I'm sure they are just trying to reduce the cash burn until they have funding, but my personal view is that they won't survive.