Member Info for goingunderground

I'd best be scraping my £100 together. I may have to buy at 1p. ( I don't mean 1.9p) :-)

Thats better.

Not great

If its a placing he will have to take a very signiifcant chucnk or he will lose his majority holding. It will not be by choice

MIB, It could be a 3pm Friday RNS. The worst kind.
Maybe he is waiting for Storm Eunice to massacre the South to bury the news.
Who knows.

Troajan.
Slide 12 and slide 30 might help. Its in the jackanory book here:
https://wresources.com/wp-content/uploads/WRES-Presentation-June-2019.pdf

ICD supported the company by taking place in the placing just a few weeks ago. They are now down 60%
Crux the Institutional Investor took part in a placing 6 months ago. They are now down 70%
Since consolidation took place the share price has fallen by 80%
A LTH with an average of 50p. They are now down 95%

Its gonna be a difficult route out of this. The story does not read well.

Troajan "its because,theyre mining a lot deeper than first expected......so more water and more ore/"

Another throwaway factless post from you Troajan.

"its because,theyre mining a lot deeper than first expected...." No one has said this.
".so more water and more ore/" Water yes, but clearly LESS ore (Q4 production and January was a disaster, likely February too with 2 week shutdown)

Decent post that was Safetyman. I don't agree with some of it but decent none the less.

What a "childish" comment Troajan.
Expect - to think or believe something will happen

https://dictionary.cambridge.org/dictionary/english/expect

If they are unable to secure a term loan or CLN's
Then next in the pecking order must be a placing. Now, its going to have to be for a chunk of money, They ve burnt through at least £1.5m in 2 months PLUS the income from the product in January.
At what price a placing? 1:1 warrants with a low strike price ? Who will take part ? It would be simple to get a Majority holding even if it was just £1m placing. Messy. Very messy.

It says in the body of the RNS
"Following a poor Q4 2021 the Company's cash position was lower than expected and the significant increase in the price of LNG has added an additional complication. As a result, the Company will need to raise funds in the very short term. The Company has been exploring additional sources of finance to strengthen its Balance Sheet and expects to complete this fund raise, which is expected to be in the form of debt, later this week."

It also says in the quote from Masterman "We are very pleased with the progress we have made in raising additional funds and look forward to updating the market in due course"

So Hailes and Masterman cannot even agree on this.

So after a disastorous Q4
"A total of 240,597t of Run of Mine ("ROM") ore fed to the La Parrilla plant in Q4 2021
· Total tungsten WO3 and tin concentrate production of 104.8t
· Tungsten WO3 concentrate production of 89.7 dry metric tonnes ("dmt")
· Tin concentrate production of 15.1 dmt"

We then move to the January disaster
"January 2022 Production Update
· Tungsten ("WO3") concentrate production of 42.7 tonnes and 2.1 tonnes of tin concentrate
· Three shipments were made during the month totalling 49.0 tonnes of tungsten concentrate
During the month of January a fault with the electromagnetic separator reduced the amount of completed concentrate that could be produced. This problem was corrected towards the end of the month with a number of bags of work in progress being reprocessed during early February"

Then we are told of the outlook for February. (Another disaster)
"The Company decided to introduce a two week maintenance shutdown to carry out a number of important and significant maintenance tasks which should improve concentrate recovery and production going forward. Production is due to recommence next week and the Company looks forward to seeing an improvement across the board. The Company also notices that during the maintenance shutdown LNG prices whilst still very high, have been falling."

So, we are told the fund raise is "expected" to be debt. I guess we will have to wait and see whether its in the form of CLN's or a straight loan, at what interest rate and what conditions are imposed.

No news on March but I'm spotting the trend. Disaster(man)

Just for Troajan, its all goooglleeabllyy here
https://www.lse.co.uk/rns/WRES/production-report-and-finance-update-dd5cpzik2wzg6nh.html

But read the RNS Troajan. Masterman has stated this week. Are you doubting him and his ability to tell the truth ? How very dare you

A friday RNS on debt fiancing it will be then. (or not)

Bothered ? Not me.

Valuation. Yep they are trying to raise funds, the priority being to keep trading. Masterman has had to many false dawns for credibility when it comes to delivering to investors on his promises.. Lets see what transpires (if it does)

Valuation "Introduction of a wet, high intensity magnetic separation unit as a form of concentrator alongside the fines gravity circuit and perhaps the introduction of X ray sorters before the gravity circuit"

In case you missed it, they are skint.

Troajan "using the low rom feed to give the concentrate tonnages,is misleading
why
because its simple,the mine is running at full capacity
when the mine is running at full capacity.lets use the rom feed off here of 2000dmt
then you get 2300 dmt of the metals"

This makes no sense.
FACT:- The mine is not running at full capacity. In Q3 it was running at 55% capacity (279kt) yet delivered only 25% of the FID stated output (192.4t/775). I've picked Q3 as that was the best ever Quarter by a country mile.

Valuation. The highest grade ore was being mined in Q3, That is why I used the Q3 numbers in the comparison.
Safety. The price should be ignored for this purpose. The discussion is about production, The price is the price. The increased prices should be the icing on the cake. The plan was 2700tpa from 2Mtpa

I have said, on a few occaisons that I am a potential buyer. You should pay attention more. My target price is 1p. - Not far away now.
I have posted on other companies, they have been mentioned on this bulletin board. I have only 1 user name on LSE.
My motivation has been explained in the past. (not that it is any of your business)
You just choose to keep rabbitting on about things that don't matter but I don't care. Its much more goodly that way