RE: red23 Feb 2019 09:23
Apart from the $7m+ in the bank at YE, wres will get €5.31 free cash from Extremadura.
Wres is shipping 2,000mtu/month. They won’t have the economies of scale that full production brings, but they have income of around $400k/month. From Q2, that will be ramping up to $4m per month.
I will never again say that wres will never again have a placing, because of the extremely expensive lesson I was taught last time, but the notion that they need money right now, while they have loads of cash and loads of construction still to do, seems far-fetched.
Who would take that placing anyway? Not me. I have 0.42p warrants. Not nearly as many as some, but enough. I would not take a placing at 0.4p, or even 0.38p. I don’t know of any of the other holders who would take that either.
If you want to go with the impending placing theory, feel free.