Member Info for jaf1948

Before you get on your moral high horse, why is it more misleading than people quoting $3m a month revenue when nothing even close to that has yet been achieved. The interest rate is a fact.

MBleu,

Loan rate is 12.6 % as quoted in the RNS. Bank rate on that date was 0.5%. Divide 12.6 by 0.5 and you get a percentage of 2,520 .

Safety,

Read my words. I am not comparing it with anything - I am just stating an unarguable fact. If someone wants to compare the WRES loan with comparable loans to other junior miners at the time, then fine.

If you think quoting a fact gives the wrong impression, then that is your problem not mine.

Sorry, for the second time read 'loan' instead of 'load'.

Safety,

The load is NOT good except in one respect and that is it allowed the mine to be built. The interest rate is over 2,000% of Bank Rate at the date of signing; it also had a non-refundable upfront fee of 3% of the face value of each of the respective Loan disbursements; it also gives Blackrock warrants totalling 5% of W's fully diluted equity. All of that is fact from the February 16th 2018 RNS.

You call me 'deliberately vexatious imho and shameful'. I call it giving the actual details of the loan. If the mine gets built and renders the profits that are hoped for, then it will be a good investment. It doesn't make the terms of the loan any better.

It's amazing the number of paid rampers on here flogging their own agenda.

Oh sorry, I forgot - it's only trolls who are paid and have an agenda.

GIT,

The time to brag is when WRES is a success and as I have already promised Kev, I will be the first to congratulate you all.

Until then, lay off the insults - it doesn’t do you any favours.

Marklee,

We can all do without your silly snide comment. One transaction, whether a buy or sell, means nothing so why waste time on it.

Why does it matter ? It tells you nothing about WRES, merely that one person either wanted to buy or sell.

for 'load' read 'loan'.

There is a lot of nonsense written on here about due diligence.

Due Diligence by Company A on giving a load to Company B says nothing about how good company B is - it is there to ascertain how good the loan would be for company A. For example, if the loan is secured (as is usual) on the assets of Company B, it can often be the case that Company A would not mind whether Company B repays the loan or goes broke - they gain either way.

L200,

That makes sense.

Kev,

Thank you so much for patronizing me. It means so much !

Kev,

I am not a CEO - I know I haven't got that ability. Not everyone has, but if you believe that a loan at over 2000% of base rate is good, then fine - no wonder you are happy with the figures.

Safety,

Glad to have been of assistance to you.

Kev,

If you are paying 0.25% above a base rate of 1% then you are paying 25% above base rate. What is your problem ? No wonder your EBITDA figures are, shall we say, questionable.

Maths doesn't seem to be your strong point (again). If you are assuming Bank Rate of 0.5%, then 0.25% is 50% not 1%.

Oh, did you want more ?

Average rate of the BlackRock loan: 12.6% (RNS February 16th 2018). Bank Rate on February 16th 2018 0.5%.

I was being generous saying only around 1000% - it was considerably more.

Yes

Safety,

Like every investor should, I did as much research as I could and bought in starting in 2013. However, as the years went by, deadlines were missed, predictions didn't come to pass, a very expense finance package was finally agreed (after being told that there were many financing options and end up paying around 1000% over Bank Rate), lack of information and poor PR throughout. By the time 2019 came, the future no longer looked quite so attractive so I sold. If people are taking all the above as mere aberrations, then it is up to them.