Member Info for K3VMC

Mother, I tried talking sense to dreamy many times in the past, but he always stays in character.

Please remember that pundits are still suffering from the WLFE debacle and now the ORM debacle has vindicated their aversion to risking a WRES debacle.

As soon as the date of receiving the €5.31m is known and depending on the level of production at that time, national press coverage will swing into action. That will be our EUA moment.

All imho

DB

“ Mother, there isn't really much to evangelise is there ? Its not a great story so far.”

Keeping enough PIs invested, long enough to get LP to a point where one of the biggest funds on the planet to lend WRES enough to buy a totally new plant, must be the biggest success story of our CEOs life. Not many people could have pulled that off.”

“I think many people in here are blinded by their own confidence in this stock. The reality is somewhat different.”

Reality is that the mine is currently producing less than we expected. If it produces as much as we originally planned for, then the confidence is not blind, but far sighted.

“Like it or not the realities are what they are. Its late, overbudget, Debt has increased and there has been much dilution.”

I’m sure no genuine investor likes it, but I can see why you would use that expression.

“Promised production in the last 12 months has come to nought.”

“Nought” is incorrect. See the RNS.

“Now, all that being said and assuming that IF the production is successful there may be some PR to do. The most significant facts that will have any impact will be very regular production and shipping information. This is where the PR would be beneficial, but if Masterman does not provide the figures then any PR company will struggle”.

Agreed.No point in banging on about a work in progress. Those with confidence will hold or add, those without confidence will hold or reduce.

Grant will be a little fillip, while we wait for ramp up to complete. We also have cash to drill Sao Martinho, to cure the SRK spat. A JORC of 1moz+ would also raise a few smiles.

We wait.

Starterforten, I would not begin to question your experience, but your posting is simplistic.

Just my opinion.

DB, I’m no going to update you with my thoughts on a daily basis.

Please work things out for yourself.

None of your business what my communications are with Mr Masterman, but for the avoidance of doubt, it goes like this. I email him questions, he doesn’t reply.

DB

“ Why would you do that when Masterman was predicting 20-40t a month from the old concentrator for 2019 H2. Fresh ore from the new jig, watch the videos. Listen to what he says will happen then reflect on what actually happened.”

When circumstances change, I change my estimates accordingly, as any normal person does.

“You are fickle and choose a narrative that suits your purpose. You "forget" things that do not suit you.”

No. I don’t forget. I adapt.

“Ah well. so you will be happy 240t for the Q1 2020. 3 more months of cash burn. Revenues behind expenditure. Further non profitable production. Lets see how it goes.”

$800k-$1m is fine for me, as part of ramp up.

Don’t worry. I think your £100 will be fine and any five bag will get you a nice weekend break.

Rob, I have 175 years of children experience.

Condescension is now my default mental attitude.

Starterforten, I’m not convinced that you understand the concepts of plant construction, commissioning and ramp up.

Dot worry, though. By the time you grasp that, we will be in full production.. Confident of that.

DB

“ Whilst I would accept that no one cares what I think, are you seriously saying that you and others are content to wait until early April for an updated on the production?”

You cannot prove we will have to wait until April, so you cannot possibly assert that. That’s how your logic usually goes.

“Part of me thinks that some of them are, that way they can continue to post the fantasy numbers without any evidence to prove or disprove them allowing the misleading pasts to continue.”

Happy for you to think that some are, some aren’t. That’s probably your most sensible post of all time. I commend you to the board.

I think you will find that GIT, myself and others were content to predict 20-30 tons of concentrate for the quarter, post the delays in plant commissioning. Not fantasy, as it transpires. I will be happy with 80 tpm average for the next three months.

You only need one money fountain!

:-))

DB

“ I'm expecting an update in Early February on Jan production.”

I’m guessing that most of the board doesn’t care, one way or the other, what you are expecting, but I am confident that Mr Masterman neither knows, nor cares.

:-))

DB

“ I'm deeply flattered that you all care, but I've not lost a bean (in ORM)”

I can’t speak for others, but I don’t care. Not in a nasty way. Just to be clear.

My point was that ORM was always going to lose its share of the mine, but you could see some good news coming to shareholders, just a couple of weeks ago.

You only think you get everything right.

DB

I wasn’t saying anything specific. I agree with your comment that their RNSs were clear and honest.

Based on those and their previous history, I felt that they were doomed. Doomed, I say.

I thought they had zero chance of surviving and I said as much, but not so often as to be labelled a troll.

You thought they might get good news, but we can’t always be right, can we?

Do you think special dividends will be in the best interests of the bod?

If it isn’t, I’ll bet you a pound to a pinch of ****e that you don’t get one.

Pigs. Trough.

The old BOD got to slope off with MetaLeach at a bargain price. It was a piddling amount of cash and made no material difference to the dilution.

Just forget the past. Gone. Not relevant.

This should have resisted on January 6th. We could have had an Epiphany joke.

All I can find is this one from December 24th.

DevilsBeast

“ You just beat me to it OMR.
Good luck to them, I always find their RNS to be particuarly honest and straightforward. Perhaps there is some good news heading the way of their shareholders sometime soon.”

Half a dozen business days later.....

I feel sorry for anyone who loses money, but ORM losing Barracupuerda was always just a matter of time.

On the plus side, their planned 3,000 tons concentrate per year will not be for sale any time soon and there may be some cheap kit for sale.

philgypsy

Don’t judge everyone by your own standards, please.

This is the third time I have taken a placing in AXM.

I had written off my first two investments, for sure, but this is easily a multi-bagger. ELight has first mover advantage in a huge market, £25 BILLION and growing. There are HUGE pressures to decrease carbon footprint and INCREASING regulation as well., including TAXES.

I’m happy for you, if you managed to sell today, as you posted. Obviously not for you.

Pop back and visit sometime!

:-))

philgypsy

“ Hope goes well for the new investors and do not get stringed along with false promises from the BOD, never know in 2020 they might actually achieve something and even bother to comment on this board and take an interest in the investors that paid their salaries for the last 4-5 years.”

It’s a new BOD and and a new business. Why are you consistently failing to comprehend that?

It’s not rocket surgery!

https://twitter.com/pembridgeres/status/1214830605155913728?s=21

Gold at a seven year high.

I’m sure our new NED is a valuable addition to the BOD, although I’m not expecting much in the way of geological expertise or commodities marketing.

He will add to the strength of local support for WRES, encourage local investment in WRES and increase our standing with the local Junta and Spanish lenders. Family reputation still counts for a lot in Spanish business.

Apart from that, as DB posted, some shareholder empathy would have been a welcome surprise.

You can say that again!

0.037p paid. That is 11.1p in new money (300:1 consolidation).

That is a 48% premium to placing price.