Member Info for K3VMC

Rod, you made me blush, but thank you.

Langtro, was I there when we met?

Stanley Baxter di Parliamo Glasgow.

Not really.

Think of the Devil.

One, two. One two.

Andy

“However, it seems you are basing your responses on having seen the modeling for WRES to know these numbers otherwise it is guesswork?”

If you are insinuating information, then no, I have seen NO financial modelling, or figures of any kind.

On timelines, I am sure the management has a schedule they are working to, but again, I am as in the dark about that as you are. However, not knowing the timelines does not worry me. That is for others to know and me to guess.

I think Wresources will compensate LTH’s handsomely, in the fullness of time.

I have to disagree there Andy. Every business needs financial modelling, especially cash flow forecasting.

I have been buying recently because commissioning is complete and we are now ramping up. My estimate is that we break even around the 50tpm mark, spookily close to GIT’s numbers. I expect output to get to 200tpm at some point, which means we have to surpass 50tpm at some point. Around that time, whenever it is, the more cautious investor will realise that wres will be a great commercial success, as GIT, myself and others already believe.

I would rather buy now, than pay a safety premium later. It’s not rocket surgery.

:-))

oldskool, when you resort to sarcasm instead of facts, you lose.

QED

Andy, keep up!!

We need funding for working capital. You know, keeping lights on etc!!

:-))

oldskool

“K3. I am being generous.”

No need to be generous. Factual and honest is sufficient.

“ There will be penalties (let's say costings or admin charges) and the increased debt will, of course, accrue more debt.”

You have no proof of penalties.

“No the extra loan is not insignificant. It was to keep the lights on as were the other cash calls.”

At no point did I claim the loan was insignificant. Please do not twist my words. I posted that servicing the 1.75% loan was insignificant.

“If WRES is paying that debt down on a monthly basis then the running costs look even worse.“

It is silly, just silly, to suggest that we are repaying capital, when we have been told that interest is being accrued, NOT paid.

“I also look forward to some production figures. Taking their time with it that is for sure.”

So do I!!! Produce first, report after. That is only logical.

“ Hmmmm.“

Yes!! Yummy here, innit?

oldskool

“ K3. I think my numbers are closer.”

You face no numbers.

“Your 500k a month is off.”

Happy to hear your reasoning.

“That covers debt interest payment (no debt payment) and nothing else.”

No. It covers £465k interest payments, plus $35k towards wages.

“Look at the burn rates and the cash calls.”

Show me the burn rates! We know about the historic cash calls, obviously.

okdskool

“ K3 you say near 500k.”

Yes.

“Yet have the debt at 465k.”

Not debt, but interest per month.

“Add a penalty and the increased debt will accrue more debt and you will clear 500k easy.”

I know nothing about any penalty. Did I missed that?

“So, that only leaves 250k for everything else. If MM is still taking 20k then that leaves 230k for ALL OTHER COSTINGS.”

If he is taking 20k, then yes.

“Really?“

My view.

“Is WRES not servicing the extra loan?”

No idea, but servicing €1.5m at 1.75% is immaterial, in the grand scheme of things.

“ Have I missed that?”

Not that I know of.

Break even about 50tpm, so within 2-3 months, if 200tpm is due within 5-6 months.

Looking very, very good!

:-)

I think we break even at 50tpm.

GIT, thanks for that.

I think larger debt to BR, but 13% interest, which comes out at $465k, so the same as your figure. No repayment to Caja Rurale until grant comes in 2020 Q1. More employees, but lower cost per employee.

I reckon $500k per month is a decent estimate.

GIT, would you please share how you arrived at 700k per month? Dollars?

“This mine got stolen from shareholders and given to some LA hedge fund monsters who know nothing about mining yet control the company 100% and have now put in place a death spiral financing to take the tiny 30% that remains in our hands after we can’t make the credit card type interest payments.”

I thought you had sold out of ORM? Why would you stay in ORM, when you have nothing good to say about them?

18th November you posted on wres

“How much are we going to be down today ?”

Well, WRES is up since then and ORM is down about 10%.

Still, dead cat bounce to enjoy now.

L200, please don’t take out your disappointment with ORM on me. I told you what a poor choice you made and you had a chance to get out on a spike months ago.

My $40m ebitda prediction was at full production, with an APT price of $350/mtu which still applies under those conditions.

I also posted that there was no placing that I knew about, and I would have known if it was a UK placing. It wasn’t , so I didn’t.

Best of luck with ORM!

:-))

DB

“I stand to be corrected but I think they do not have any staff to run 24/7.”

Really? What makes you think that?

DB

Thank you for that cup and paste. I understand that you were trying to make a point.

What was it, please?

Problem with ORM is, they keep mining dirt.

First, it was documented dirt, now it is undocumented dirt.

What other little surprises does their very indebted 30% of the mine hold? Hmmm?