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and that doesn't include the non payment of debt interest

Troajan. They've burnt through £16m in the the last 2 years, producing less than 800t product combined in the same period
Do the maths. Thats why they are they are losing money hand over fist. Drive for show, putt for dough.

Ah safetyman. That was another miss. From the q3 Production RNS "In Q3 2021, work commenced on the second water dam which we expect will be completed in November 2021 and will serve to protect the mine from further water issues."
No word on that being completed in November and from the Jan RNS "Heavy rains in December led to production stoppages caused by wet crushed ore blocking the silo."
It would seem that "matters" were not in hand. It went on to say that "This was compounded by only having access to mid to low-grade ore," Yet in the Half year review Disasterman said "Successful completion of the first water dam resulting in regaining access to the higher-grade ore in the La Parrilla open pit"

What to think ?

5th Jan RNS - "As a result, the Company now has to adjust full year guidance to 520t of tungsten and tin concentrate compared to previous full year production guidance of between 650t and 750t of concentrate. The Company expects to issue a Q4 2021 production report later this month."

Another miss. 3 actually. Production came in at 520t well short of guidance which in itself was a lower guidance from the original 880-1000t earlier indicated. The shard report calculations were based on 910t for FY.

Disasterman strikes again

Troajan

In that case explain Marcus Garvie, Beronia investments ( Bryan Pirola) amd Miton (II Investor) Don't forget Atlas too.

Troajan says "almost £2.5 mill as been added" Yes. ALL placings to raise cash for a company that is burning more cash than it can generate. Actually if you want to be truthful. its circa 16.5m that has been raised in the last 24 months if you include Blackrock, Atlas and the multitude of placings to fund the company and pay creditors. I do not include in that figure $12-14m of unpaid interest that has been rolled into debt.

Paint the full picture, not the one that sounds like people love this company.

Oh Troajan. Marcus Garvie too. He moved out, I think he had 5% + holding.

Furthermore. Every investor that has not increased there holdings by 70% now holds less shares than they did because of the dilutionary effect of the multiple placings.

You can add Mitton to the list of significant investors who got out

If they have increased their holdings, they are all heavily out of pocket. Every single one of them.
Silly silly people.

What about Beronia investments, the former director. No longer listed

Wrong board again Troajan. This is WRES

Dunkirk, I certainly hope he is not suicidal, if he is feeling like that I would hope he has the sense to speak to someone about his feelings. It’s good to talk at a time like that

You mean like the Spanish investors you keep mentioning. £750k at 36p a share, you had the same narrative then. DD, would know more than Joe public etc etc…..
If they still hold their £750k investment is now worth £87.5k

Mushrooms

Troajan

None of the shares have been purchased on the open market, They are all placings as WRES is in financial
difficulties, admitting they continue to have cash flow problems. (Hardly a surprise)
The placings exceed £1.5m in a 6 week period from the 5th November.
None of this is good news for a sustainable outcome
In my opinion the company is in ICU and has a poor prognosis. It needs a miracle for the PI's not to lose their shirt.

Mushrooms

I know someone who is a very senior EMEA manager at Mcdonalds.
Completely incapable of flipping a burger at a summer BBQ.
Just an analogy of course

Marj "I had a conversation with a spokesperson for the company just a short while ago.
The update is at an advanced stage and in my personal opinion it will be with us at some point this week"

Safe bet as its already a couple of weeks later then it has been in the past.

Who was this spokesperson ? The mine cat?
What a load of tosh.

Correction "Mr Disasterman will then go on with some more gash about how the future is looking rosy, culminating with "More jam tomorrow"

I can see the RNS headline. "Total production increases by 112% in 2021" Its boringly predictable, yet factually correct.
(Masking the fact that for 6 months of 2020 it was part time working on 3/4 days a week and only 58% of the low guidance that WRES made public, and a tiny 16.5% of the T2 production rates that have been promised for 3 years now.)

Mr Disasterman will then go on with some more gash about how the future is looking rosy, culminating with "More than tomorrow"

I wonder if he tackles the continued non payment of interest and rollover of interest to debt, the penalties attached to this and a summary of the dilution that has occurred.
Very predictable.

and now a Cartoon !
The Flintstones did a much better job with dinosaurs .
I was watching Bering sea gold at the weekend. Masterman is no Pomrenke, more Kelly

Oh look. More misinformation from Troajan. A video of a machine not taken at Regua. A mine that is not producing. How pointless.