Agree that without proper news this will drift South but from optics perspective, it would show that a new attitude is being taken as opposed to more of the same. I am sad we are drifting south, not least of all because of the shark known as Atlas circling us, hate to see them convert at .11 again
A PR company or senior management who had a clue about investor relations they would have followed you the share purchase by the CEO with some nice pics of the mine, an interview or something to keep the momentum going. A retrace was inevitable after the big rises but it’s not inevitable that we end up back at .1, just feels they do things in fits and starts and there is no co-ordinated, cohesive strategy for investor relations.
I did a long mail days ago in response to someone claiming I am negative, this isn’t being negative, it’s a valid challenge I will raise everytime they do or don’t do something that should or should not have been done, in my opinion. Once again, great to see MM taking the opportunity to make a lot of money out of this in the future, just a pity if they don’t utilize it to cement a higher base price for the shares.
Could be the vendors who got shares in lieu of cash....cashing in!
Those are the things we know....what are the things we don’t know is the more important question as it appears every quarter we get disappointed because something went wrong. But let’s see whether they managed to get enough paper towels to dry the mine yet ( as we haven’t been told that the high grade ore is being mined again yet, maybe no regulatory requirement but would be nice if they bothered to tell us.
GIT I am beginning to worry...this is the most downbeat I have ever heard you...personally think it’s an accurate statement and I actually prefer it to your usual more upbeat messages because I just feel this is closer to where we are now. Having Paul do the interview was wrong in my opinion, nothing against him and other than safety I suspect most would agree it came across as amateurish. The lack of some time frame to accessing the high grade ore was also wrong as that is important to give the recovery plan more structure.
Safety, your view is more valid than most in here, no doubt including my own. Just after all these years all I can say is talk is cheap...only way I can be convinced of anyone’s professionalism is their ability to deliver consistently now for Wres and I have unfortunately not seen it here yet, albeit some was down to them ( eg mining in the wrong area) some down to the vendors and some courtesy of the big guy up in the sky.
I trust safety and so was not trying to catch him out, I just had never heard of Paul before the announcement that he was to be cfo so was interested to know if he was perhaps an investor. It certainly wasn’t to try to catch safety out as I have never doubted his sincerity. So please don’t use me to try to catch him out.
At as a matter of interest, what capacity did you meet him, as he only became cfo 20th nov 2020 so no real time agm’s. I agree that I prefer substance over form but having dealt with many cfo’s in my career it didn’t come across as very professional and didn’t inspire confidence. He maybe a lovely chap and may be a great cfo but for investors and potential investors the need for a professional presentation, which instill confidence and belief, is important.
Pablo has it, this guy didn’t in this interview.
This company has not failed to disappoint in the last 3 or so years. I just don’t know when it will end. They say hope springs eternal but even hope is looking for place to hang itself with how MM is doing crisis management (and this is crisis management).
The fears of mass dilution are real based on past behaviour (btw, what exactly was so urgent in Portugal that we needed the last round of cash).
I am venting because people are defending the indefensible and claiming that it is somehow normal. MM can always find someway to make up for his dilution by giving himself more shares, us poor schmucks just grin and bear it....well I don’t grin but I have no choice but to bear it in the hope that one day I break even.
First off, Paul needs some lessons being on camera, he seemed to be reading prompts around his screen. Second, this is a fairly important announcement, and even if he is the cfo, this shouldn’t be the first time he is carted in front of investors. Though I suspect MM wouldn’t fancy doing it himself. Third it appears they still haven’t dried out the high grade ore yet so we most likely going to miss out on that for the first couple of weeks and even the whole of March. Unclear where they are mining at present.
Altogether easy to see why we are down 11% as the way they have gone about it (would have made more sense to do it when the high grade ore was accessible) is the usual pathetic approach (unless advisors told MM he had no choice).
He also talked about dividends in our lifetime....so wtf does he know. The flip side is he has ballsed it up so bad that he has no choice but to do this....now hand on heart, which is more likely
You were right and GIT was wrong....simple as that. Without an interview today to provide some explanation for this action the sp will suffer a lot. GIT, Tro and safety pls feel free to disagree.
Will go one of two ways, we are either royally screwed, and with each day that passes I can understand why people feel that way...or that this is a turning point of sorts and unlike all the other times that people say he has cleared the decks and we will finally get our jam, we may have gotten there. But wouldn’t it have made more sense to do it just after he announced we had started accessing the high grade ore as opposed to know., I assume that can be more than a week or so away (though he may. Or bother announcing it). I suspect Atlas will now convert more.
Fall in real terms.....atlas to most likely convert more and basically nothing positive in and of itself. You would normally hope that this would indicate that MM has decided we have hit rock bottom now and the only way is up, however, he has disappointed so often and consistently ( granted some not his fault) that I refuse to feel safe. Instead I just hope he has some good news before the qend results, preferably in the next few days.
When the flooded mine will be drained enough to start mining the high grade ore
“The management and operations team at La Parrilla are taking steps to lower the water level and regain access to the higher-grade ore and it is envisioned that these steps will create a permanent solution covering the life of the mine.”
What would be nice would be an RNS, statement, tweet when this has been done but am not holding my breath that they will.
And if my uncle didn’t have a certain appendage he would be my aunt. This is aimed to both side of this discussion, it’s idle speculation which in all the years it has been done on this board I do not recall being correct once. Idle speculation, when done in the form of guessing how many tons of production may be fun but I hope anyone reading, it, especially new investors, realizes there are a lot of what if, hopes, providing and assuming being done. There is very little goodwill left in MM in this place, we have nearly all complained about his over promising and under delivering, his PR skills, is ambiguous statements. This has all contributed to a lack of faith which in part explains the low sp.
not to say I don’t enjoy people turning themselves in human pretzels to reach their self serving conclusions.
Again this is directed at both the naysayers and the fan club. One thing for sure, we are starting the week at a new low, after what was supposed to be good news last week, so you have to ask again about the messaging and it’s delivery.
Eved it...sub .9 to sell, average of .9....days after being told that things are hunky dory...for all you saints out there, is your patience being tested yet
GuG, think their point is 100T or 160T is showing we are heading in the right direction...albeit years too late.
I share the same concern. Their calc is on their being three shipments of tungsten as they produce 20T a week, so let’s say 15th, 22nd and 29th. Then pressure one more of tin. This is all idle speculation for a company who has yet to over deliver. More realistic expectation is just one more 20T of tungsten and another of tin, if we are lucky. People who criticize MM for over promising and under delivering on this site do it time and again when they speculate as to production numbers.
Had a chance to read the RNS again. We did 2*20T of tungsten in the first two months. Next is on 8th March so will be lucky to squeeze another one before end of March. Let’s be generous and say they manage to squeeze not one but two out, these will be the mid/low grade ore so not sure how that compares in price. So we are looking at 80T to 100T max for this quarter of Tungsten.
We don’t know how long it will take for the mine to dry or how many rolls of kitchen towels it will take (where is trump when you need him).
The wonderful impact that the RNS and interview had on our sp. I have never bothered checking how well the specula calculations done by people here match up to reality. Good news is all problems fixed...till new ones arise. MM looks like he has had enough of it all. If he is to be believed we have done 60T of tungsten so far and being generous expect another 20T or really generous 40T before qend. Every penny counts so let’s wait and see, in the meantime perhaps MM can let Pablo do the next interview by himself and see if that helps the sp lol
For all you religious folk...anyone feel we are cursed....first the covid plague...followed by floods, hope we have fire extinguishers for the imminent fire and brimestone.
So as suspected by many, we had yet another misfortune befall us. But before I carry on, congratulations for getting the upgrades all finished and especially doing it in 2 weeks instead of 4. Also safety is always the number on priority so totally understand the need for the extended shut down. Assuming late January to be after 20th and mid February to be 14, we lost 25 days of the first 60 days of this quarter but so be it.
I am not an expert so don’t know if it was reasonable for them to have planned for the flooding ( 7 years doesn’t seem so far back as to not consider it a viable risk but fair to assume that given we have not had a pot to p## in for sometime, that spending money on the risk of future flood defense was reasonably not considered essential.) But we have now had to spend it.
As for the risk of dilution or more draw downs from Atlas, am unsure. Would have been nice to have had a reaffirmation of the intention of going to 7 days by April.
As it sounds, we are basically told the usual story...problem came up that has cost us and now we have nearly fixed it and it wouldn’t happen again but you ain’t getting a clean month of production this quarter. That’s ok, there is always next quarter.