The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
3rd March till the 31st, what went so catastrophically wrong that went from this "Notwithstanding this hurdle (“rainfall”) the success of the Plant Improvement Programme has been reinforced with expectations of Q1 production being the highest to date.". To these results....
Safety, pls go through all prior RNS produced by our very own Arthur Daley (aka Masterman) and identify exactly how many of the stated expectations he delivered on and how many he has missed over the years. Like you and many others am too far under to sell but refuse to have my intelligence insulted by believing a damn word he says. I am just scowling and bearing it in the faint hope that in a few years I break even and can put this sorry story behind me. BUT TO ALL POTENTIAL INVESTORS, BE WARNED, MM IS THE MASTER OF OVER PROMISING AND UNDER DELIVERING!
GIT, you know I luv ya but pls stop with the predictions....it’s not your fault, they are just useless at producing. Every quarter we have fresh excuses for their failure. It is what it is, but playing this predictions games just leads to tears. (Why do you think I stopped playing the quarter production figure game).
Breathtaking that, without explanation, our 7 days has been moved to Q4. If all upgrades have been completed, why would they do that. Glad they stop insulting our intelligence about the Grant. All in all it was an awful RNS and just glad Atlas was dumb enough to convert before the news came out. Rate they are going we may we’ll see another consolidation of shares.
The only positive, and it is genuinely pleasing, is on Health and Safety and no cases of Covid, so on that front well done. Without further news in the coming days the shares will slip further as it sinks in just how bad last quarter was and the uncertainty of why we aren’t at 7 days The shares will slip.
As a matter of interest safety..since you started this tradition, exactly how much as our sp fallen....just asking for a friend
The shenanigans claimed by some here in respect of friends discounts as whilst I believe there is a severe lack of trust in MM due to;
1. Continuous historic over promising/under delivering
2. The charitable Warrant extension which benefited him to
3. The lack of PR strategy and Investor relation/engagement
Etc
The reality is it still needs to be signed off by the accountants and whilst we don’t have visibility of the complete Atlas agreement, it would be shocking if the formula for calculating the conversion was different to the one they declared.
Think we will have a better idea if we need more Atlas money after we see production figures but not 100% sure as he justified prior one for the benefit of Regua, months ago, and we have heard nothing about it since so he may claim he needs more money for that.
Unexpected, we knew it would happen...Atlas struck gold with this Credit facility and its a gift that keeps giving for them. Unfortunately for sp we get four kicks in our family jewels for the price of one....interest payments out, dilution when they convert that drags down the sp and a further drag down when they sell and thanks to increase number of shares the return via dividends is also diluted. It’s a reality and will continue for a while to come yet.
I don’t believe we are in a death spiral, we have had an Indian takeaway that didn’t taste that nice going down and keeps repeating on us. It will pass and the price we pay, if we are still able to hold the shares, is a far reduced return on our investments.
As for our CFO, based on his one interview and having very little info on his management of the finances he has so far reminded me of a junior accountant, he inherited a mess and nothing I have seen or heard about indicates he has been able to do anything beyond double entry booking.
Hopefully less than three weeks for us to have a very slightly better view of the state of play.
You become desensitized to the level of incompetence and ineptitude when it comes to PR and Investor engagement at Wres....but on the plus side, the chairman gets to pick up cheap shares. If you starve a person he ends up being grateful for crumbs and adapts to accepting it as normal (well I guess that also sums up capitalism)
For Wres and all this back and forth( between the Rampers and derampers) is when you are in the car with your dad and you say how long till we are there and he says 10mins to shut you up and 10 mins later you still aren’t there and you challenge him and he says another ten minutes and ten minutes later you still aren’t there and this carries on till you reach there.
Yes over the years the “rampers” have got numerous things wrong but the company is still there, not as pretty as it used to be but it’s there and I believe, in the coming years, it will make us a profit ( provided we haven’t died or been forced to sell for any reason).
The next hurdle are the result and that is Few weeks away.
Otherwise hope you all had a nice Easter break....
If there is anything stopping Atlas from short selling our shares to drop the price and then converting the loan to get the shares to cover the shorting
Agree that when a door closes, a window opens....wouldn’t say who built my house....
But even if successful, it is unlikely to recover anything like how much it has cost us....
As traditional automotive industry moves away from the the combustion engine to electric....
https://www.mining.com/as-tungsten-demand-remains-low-producers-may-have-to-look-at-new-markets-report/
Big drop in reality....
Why are trades going through today?
I have the issue because there was no legal obligation to extend and MM was a big beneficiary of doing so. There was no benefit to the vast majority of the shareholders of him doing what he did and that is wrong. If we get to higher than .6 it will have nothing to do with him granting the extension but it will mean that our returns on our investments will unnecessarily have been diminished (both because there will be more shares on the market and sometime in 2070, when we get our dividends, we will receive less each as a result). But it’s done and in my opinion shows his character.
You are quite right, thanks for correction but net effect the same...we get diluted twice, first by atlas then by Blackrock on that dilution as they get 5% of the shares in issue when they decide to
A lot of Ifs....remember safety that.... faire words butter noe parsnips.....is suspect that much like the old wooden blank that helps hold up the fence...we will screwed a fair few times more before then.... as they say, c’est la vie....
Onto more important matters, hope lots of you have had your vaccines and are all are keeping safe and virus free
Blackrock needed to approve any conversion done by Atlas but given they get 5% of the total shares in issue when they want it’s in their interest that Atlas converts as much as possible, thereby making it a win/win for them and Atlas and a lose for us shareholders ( I know that MM is a shareholder but given his willingness to extend the Warrant last year in order to potentially benefit himself, I am fairly certain he will take care of himself on that front when the time is right). We have a month of this monkey business till we get an update and then who knows where it all goes....
Eye roll
And down we go....pls no one be surprised if we end up sub.1 until we get production numbers.