Member Info for K3VMC

I’m new to Wsg, so please excuse if this I’d a naive question.

We raise the cash, buy the kit, ship it over and get $2.6m in cash, as 77% of the $3.48m?

Correct?

Keep up the UV protection!

Someone else who doesn’t understand sarcasm.

Sense, not sence.

Just trying to help!

Lol.

L200

“It doesn't really matter what they spent it on, they will still be spending this year.”

Of course it matters! They spent £8 just on the jig and Mill. How many of those will they buy this year? Let me help you there. Zero.”

“The point is you were trying to say the 9m would last for god knows how long, it wont !”

That was NOT my point. My point was that £1m would cover wages. I then invited the board to speculate on where the remaining £9m could possibly be spent.

The fact that you cannot understand that and that you expect the same kind of capital spend this year comes as no surprise to me.

L200

“Net cash spent for the 12 months up to the end of 2018 was £24m, I would envisage 2019 could be a higher spend !.”

Codswallop.

£22m was spent on asset purchases. They are building a brand new mine with top class plant!!

They only have to do that once!!!

Doh!!

Troajan, sorry mate! I spoiled your post.

There will be NO cash call!.

£6m (cash) + £1m (warrant money) +£150k (director warrant money) + €3m (loan).

I make that to be a total in of £9.9m.

Total out is more nebulous, but even with 100 employees at a very generous average of £1,500 pm, over seven months, totals £1m.

There are NO interest payments being made.

What could possibly account for the other approx £9m????

NO need for any extra cash!

Scaremongering at its least efficient.

Mother, your nervousness on cash calls will go the same way as all the other doubts.

Only dirt in the ground.
Old kit is worthless.
Will fail, the same as WLFE.
CEO sells snake oil.
Nobody trusts the CEO.
Never get funding.

Through every little teacup storm, the CEO just quietly gets on with things.

Local government is granting them €5.31m, about one sixth of the current mcap, and is getting 200 permanent jobs in return. That is HUGE employment in that area. Jobs are so scare in Spain, that one of my tenants, a young Spanish guy who is stacking shelves here, is sending in his cv to WRES. He has a degree in Electrical Engineering.

And yet, despite all this, despite the £6m in the bank at year end, despite all the DD done by Blackrock, despite the €3m advance on the grant from Caja Rural, we still have nay-sayers.

This time it is about cash calls.

Clearly, once we start reporting good sales volumes and income, there will be further festering doubts. I can’t wait to see what their imaginations can conjure up!

DH, I didn’t pick you up in anything. I don’t read your posts that carefully anymore.

I do remember your broker note prediction. I thought at the time, you were getting that wrong deliberately.

For real this time?

DH

“I expect the broker report to hit before the news of delayed completion of concentrator commissioning. That will be imminent, maybe 2 RNS the same day if he wants maximum effect”

You guesses are always precise. Look forward to the note in the next couple of days.

Are you guessing the target sp?

Safetyman, you were at the AGM, so you heard Mr Masterman say that there was gold in two locations, but the two SRK specialists could not agree on the geology. One said the deposit was flat, the other said deeply shelving. I pointed out at the time that it could well be a cup shape. If it shelves down at one location, it could shelve up at another location.

The fact is that the exact geology has to be expressed to create a JORC. Yes, it relies on expert opinion, but you can’t fudge a joint opinion.

Frustrating.

From your life to God’s ears.

Really?

Yes.

jaf, did you understand what “Initial 6 years of planned production” above the costs, meant?

Asking for a friend.

Afaik, we have contract mining, haulage and crushing.

We supply the concentrator and the concentrate bags.

And the old wall provides the essential facilities, as you pointed out.

Mother, you have to wait for the photos of the infrastructure.

These were photos of the road widening.

There is no infrastructure! Same as La Parrilla!