Member Info for goingunderground

Only misinformation is from you !
Last week you said "they still have over $2 mill,in the coffers
which in that rns,says should last 3 months"

Full of Carp

Happy Easter

Troajan "they still have over $2 mill,in the coffers
which in that rns,says should last 3 months"

Troajan. We know you cannot comprehend, but let me break it into small pieces. NOWHERE DOES IT SAY THEY HAVE $2m IN THE COFFERS

The RNS says "The suspension of operations places significant financial pressure on the Company's subsidiary in Spain, Iberian Resources Spain ("IRS") which has very limited cash" VERY LIMITED
" W Resources has drawn US$2.5m from the expanded US$5.5m facility provided by one or more funds and accounts managed by BlackRock Financial Management, Inc. and/or its affiliates ("BlackRock") as announced on 2 March 2022." HAS DRAWN DOWN NOT HAS IN THE BANK
" In light of the above mentioned events, the Company is in discussions with BlackRock regarding the timing of incremental drawdowns." THEY NEED MORE BUT BLACKROCK ARE HOLDING OUT
"The Company believes that utilisation of its funding facilities in full and resolution of the supplier dispute will enable the Company to continue operating for approximately three to four months in the absence of the re-commencement of mining operations at La Parrilla" ONLY IF THEY GET THE BALANCE OF $3m FROM BLACKROCK

"During the shutdown period the Company is applying for Spanish government support under the Expediente de Regulación Temporal de Empleo ("ERTE") employment retention programme" THE WORKERS HAVE BEEN LAYED OFF

An ERTE or Temporary Employment Regulation File is a temporary collective dismissal procedure. This may be due to different reasons that are beyond the control of the company, such as economic, technical, organizational or production causes or derived from temporary force majeure. Not to be confused with the ERE
Unlike an ERE, the ERTE does not have the right to receive compensation of 20 days for each year worked, with a maximum of 12 monthly payments
Workers consume their unemployment benefit while the ERTE is applied. The salary in the first 180 days becomes 70%; In the event of losing your job , the days consumed by the ERTE are deducted from the period with the right to payment

The axe swings both ways.

Energy prices are not the significant reason the company is in the mess it is.
Lets remember that this is meant to be producing 2700t of Tungsten concentrate per annum, not 427t that it did last year. If it had hit its own production aims it would not be failing to pay suppliers and be dependent on further handouts from Blackrock and placings.

Firmly in the time window for the Q1 results being published.
Will they provide the promised quarterly update or has the typewriter been sold off

Then the harder bit L200. Actually produce more than 200t W a month, consistently for 10 years.
(Rather then their best effort to date averaging 35t a month last year)

Troajan. Even you cannot deny that the figures stated in the video, clearly showed 5000t pa W concentrate by 2018.
Now, looking back at the actualities.
Total W Production
2018- <50t (1% of stated target)
2019- <50t (1% of stated target)
2020-260t
2021- 520t

Now we know that WRES dropped the target to 2700t pa. (From the 5000t pa that was stated in the 2016 pitch).
Why on earth does anyone think this will produce commercially viable quantities of Tungsten.

You are getting as bad as Troajan with your outdated links and misinformation. Thats was 3 weeks ago. Before the WRES suspension.
As for your opinions of success here, they are equally outdated and have been misleading too, some would say misinformation.

Yeah OK Troajan. So the largest single open market trade in years of 1.5m shares just happened to be a couple of days before the shares were suspended.
At a 10p average (An average that many would love to have here) that equates to £150k transaction.
We will see what the FCA make of it

Troajan "an 8 year old video?"
Your maths is as poor as your judgement. Aston even said in his post that it is am historic 6yr old Video.
The point is, this is what LTH based their investment decisions on, some even a few years earlier than this.
It was and remains Bull****
Next up, receivership.

Can't imagine its raining either.

Troajan "to me,that tells me,the ROM feed problem,is somewhere inbetween the crusher and the end product."

No $4it batman. Somewhere between the start and the end........dear god. You're correct, you are no engineer, you should be a chief at WRES.
The problem may have something to do with the equipment, the other issue is trying to get blood from a stone.

"Confident" - How many times has that appeared in an RNS from WRES.
Its code for "we have got our fingers and toes crossed and there is a <1% it will happen"

Its over, all over. Some people are denialists, just like Putin. (see how that works both ways)

Is Illiteracy actually a teaching subject ? Maybe it was back in the workhouse days.

Savvy. See my post of 21st Jan. I think you chose to ignore it.
Posted in: WRES
Posts: 2,014
Price: 4.60

RE: CRUX Asset Management Bought Shares in Recent Placing!21 Jan 2022 17:56
Savvy "W RES have updated the 'shareholdings' table on the 'Investments' section of the website. CRUX increased their shareholding from 5 600 000 shares to 6 766 666 shares in the recent placing, and maintaining their overall stake at 4.6%.
Another vote of confidence."

Well, there are erros on this updated page, so I wouldn't assume anything.
Total shares 146,947,146
Shareholder Shares %
M. Masterman (and related parties) 18,100,858 12.94%
ICD Alloys & Metals LLC 12,970,455 8.83%
CRUX Asset Management 6,766,666 4.60%

Observations. Mastermans shareholding has not increased according to this. His percentage shown above is incorrect. 18 odd million of the 147million is 12.3% NOT 12.9% Do the maths yourself (18,100,858 /146,947,146) x100
Maybe by mistake they have added Mastermans recent shares to Crux but even that doesn't work out correctly.
Mastermans holding should now read 19,019,292 .

Not very professional or inspiring when they cannot even present basic basic information correctly.
So the numbers on the WRES webpage are not consistent with the RNS produced on 5th Jan. Who would have thought it...
Rank amateurs

In denial !

Safetyman once opines a "strong buy" on a stock that is suspended from trading and doesn't have the funds to turn on the lights, nor, a permit to operate. UNBELIEVABLE

Anosognosia is very real

I've found that in life, if you are lazy, you perform badly. Always good to put effort into anything that interests me. It's provides a great basis for understanding situations and sorting subjective statements from Objective facts, normally leading to a positive outcome. I'm feeling very positive at the moment.