Member Info for goingunderground

I should add for clarity when I say Government money, its is bank money underwritten by government for Covid releif, at least that was my understanding of it . I may of ocurse be wrong

I think that it is likely the Atlas funds will see WRES through the turn of the year. (In the absence of making interest repayments to Blackrock) In addition, they have some government money, though it is unclear when, if and how they obtain(ed) it

My reflections on the call today having pondered and processed.
1. Masterman took the necessary step recently to lower expectations until the middle of 2021 earlier in the week. I think this was a relief for him and he looked at ease and comfortable on the call today.
2. Masterman now needs to step away from this for a sabbatical and let Pablo provide any updates. He can work away in the background on finance, but his public facing reputation has not been great, he needs to distance himself
3. As an investment right now, its not for me. There will be no GREAT news this year, maybe some positive indicators. Interest may return in Q1 next year, Heavy LTH will hold, warrants will dilute and Atlas funds will be drawn down producing further warrant issues.
4. Its likely that this will be range bound between 0.1 and 0.15. 0.15 has been a trigger point for sells recently and I see no likely news that will accelerate the sp past 0.15 for any long extent likely this year
5. The call was a valuable medium for communication and hopefully will be repeated as promised.
6. Masterman did not like the question on his renumeration. He was very uncomfortable with it. Lets hope the renumeration board tackle this. (If they haven't already)
This is all just an opinion, everyone has one. Often they differ, but this is mine. Good luck.

He has restated that that ore sourced from the deeper areas is showing an improved recovery rate. No plans to reassess the JORC

Great question asked about How WRES might support the share price. Masterman explains that they would try and avoid dilutionary results and that focus remains on Debt over dilution to maintain liquidity (Hope I got that correct)

Talking tin up A LOT.
Higher grades are now going through the plant. No talk of 80% in the forseeable future but some talk of 50%

Regua reigned back to allow focus on LP and keep costs low

Pablo is the man. No bull

PERFORMANCE IMPROVEMENT PROGRAMME
1. Focus on higher-grade higher-recovery ore in core mining zones and move to deeper benches — recoveries increasing.
2. Invest to make jig and mill plant fit for purpose — new harder rolls, adjustments to generate less thickener
underflow
3. Boost feed volumes to spirals and improve recoveries
4. Improve operations and maintenance management to achieve continuous plant operation with good plant availability — new plant manager delivering im%roved results
5. Invest in increased spares and maintenance systems to reduce downtime and increase production rates

Sounds very calm and in control. Upbeat and positive with a plan

Some parts are working very well. Others will receive attention

Jig and Mill "Not fit for purpose"

I am

It's a Zoom meeting. Any participant will be able to record it unless it is specifically prevented by the host

Here was me thinking this was going to pull back and got out in the middle of the week.....ah well you cannot win them all. A profit is a profit

Its about time the CGT loophole was plugged. Too many self employed taking the mick by paying themselves dividends at a lower tax rate than higher rate PAYE. I'm sure there will be a creative way around it though.

I think that Getinthere has already posted 5 questions. Reasonable ones too

I forgot to add that in my opinion this will trade in the range of 0.1 to 0.15 which may present some decent trading options, until the problems are sorted or the worst outcome happens.

Whether this project fails or survives, the sp is clearly on a trajectory towards March levels when I first started taking an interest in this share.
In the near term, I cannot see any good news that will arrest this fall. The BOD have set a scene of difficulties for at least the next 6-9 months. Cashflow out of the business. To any reasonable person there is nothing in the short term (6 months)
I understand that some holders really cannot afford to turn a paper loss into real loss, but I fear that the paper loss will only grow in the short term. Good luck to you. it might come off or it might not.

I'm out for now. Made a modest 25%. Best not to be greedy, this riding down at the moment. A bird in the hand. Lets see where the bottom is. Good luck