Member Info for jaf1948

Kev, Try 11:46 - your figures were certainly challenged.

P.S. And they are not MY figures - they are the company’s figures.

GIT,

You have NOT used my figures - you have used my figures multiplied by an arbitrary P/E ratio.

Kevin said 'Mcap roughly the same as prospective ebitda'. He did not say 'Mcap roughly the same as prospective ebitda multiplied by an arbitrary P/E ratio.'

And I am not your 'mate'.

Safety,

If someone has a go at me, I reserve the right to retaliate. Troajan was making an entirely unjustified and unsupported comment that I am somehow in league with others to do damage to WRES.

Kev makes a comment about Mcap which was incorrect. Immediately, Troajan and Getinthere jump in to support him. Weird ??? No, totally predictable.

Off to watch the cricket now.

Kev,

You really do have a problem with figures. 'Mcap roughly the same as prospective ebitda.'

Current Mcap £29m (note pounds)

From the February 2019 presentation:

WRES's estimate EBITDA for 2019: $15.2m (note dollars)
WRES's estimate EBITDA for 2020: $18.6m (note dollars)
WRES's estimate EBITDA for 2021: $23.5m (note dollars)
WRES's estimate EBITDA for 2022: $42.2m (note dollars)

So at best 'Mcap roughly the same as prospective 2022 ebitda.'

Troajan,

You keep stressing how good and patient LTHs have been. Try looking at it another way - if someone had said to you 'put money into a company and 6 years later, the share price won't have risen, you will receive no income in that period and there will be multiple dilutions' you wouldn't have dreamed of investing there.

And yet you are congratulating all those people who made that decision.

That was a party political broadcast on behalf of the MM Appreciation Society.

Troajan,

There are no posts from me on LSE before April 8th 2019 as they were all deleted.

Kev and Wasp,

I have lost three amounts of over £50,000 on AIM companies in the past 10 years by a combination of believing the CEOs, accepting what people write on bulletin boards and bad judgement on my part (in any order you like). Now that I am a pensioner with no more large amounts of money coming in, my risk / reward criteria have had to change.

There is still much more that can go wrong with WRES than Kev glibly comments. People can either ignore it and take the risk or not. I will not list my worries about the company as I have pointed them out on here many times over the past few years and I no longer comment on the company. Some of them have gone away, some have already come to pass and some may or may not happen in the future. There are just too many unknowns at this time for me.

Wasp, I sold out last month as the risk / reward had changed IMO. I will not come back until full production has started AND production costs have been confirmed. That will give me less profit but I cannot afford to risk a large amount of money on this or any other company. As I have said, I do not feel it is right for me to comment on WRES now that I am not a shareholder but I will comments on posts that I feel are less than objective.

Kev, I will give you the benefit of the doubt that you do not realize how your posts are read and interpreted by people who are not members of the MM Appreciation Society.

Kev,

If someone had done the same calculation but used the worst available figures for price and opex, it would be called 'deramping'. You did the opposite, as indeed you always do.

P.S. ‘News is due’. That is one of the problems - news is ALWAYS due.

Post hoc ergo propter hoc. The reason I posted today was that there was an RNS which engendered the usual ramping posts. I decided to reply.

GIT,

I have made the point three times on here - it's up to you whether you read it or not.

If I were still sitting on WRES shares costing over £100k, I too would be making the same comments as you. If it comes good, that's fine but for me it's too much of a risk.

As for your point about my commenting on WRES itself, my comment was a joke. And anything posted on a WRES board could be interpreted (if you wanted to) as being about WRES.

The February 2019 presentation shows an APT price of $313 for 2023; the WRES website Tungsten Overview page shows a WRES FID forecast price of around $325 for 2022 (which is as far as it goes) but you want to use $445-530. Why not use 2019 prices ? That would show Integrity.

Use any figures you want - you usually do.

GIT,

I will remind you for the THIRD time that I said I would not comment on WRES only on posters.

Kev,

I presume you quoted the 2023 price as perhaps that is likely to be the time by which they have actually managed to fill a complete truck.

Of course, you also only mention one side of the equation - you do not give any costs.

Does posting EBITDA figures that even the company does not claim will be achieved count as 'integrity' ?

GIT on his own admission has 36m WRES shares, that's well over £100,000 invested in a minor AIM miner. He can hardly post anything but optimistic comments when he has that amount of money riding on the outcome.