Member Info for K3VMC

Bob, are you improvising, or working from a list.

If it’s a list, is it a very, very long list?

Yes, Tonnacombe still around. He’s the strong, silent type.

:-))

NMH19?

Anyway, the bid seems to be firming up reasonably well. Has the sp had two, or is it three goes at getting over 0.6p recently? You would think that anyone who wanted to sell under 0.6p has had the chance to do it before now, yes?

Richard, I can’t remember, which is why I’m asking.

Bob, I don’t think so. He would have bought in at 0.28p, then put a very rich gold seam next to the canteen at LP.

Now, who is it who always buys a number of shares, ending in “1”?

Sorry DH, I misread you post as, “maybe NOW the Blackrock money is spent”.

Still waking up!

The Blackrock money is not spent.

Yes, they move the old concentrator up from LP when the new one is installed there, but if the rest of the plant was ready to go and employees hired, we could bring production, and extra revenue, forward by several months.

I can’t remember who suggested that the new £1.5m money might be used to bring Régua into production earlier, but I’m starting to think that might be what the raise was for.

Coming weeks hopefully gets us meaningful news before December 10th, otherwise q and a at TPI might be ott.

Mr Happy, I agree wholeheartedly with your post. That makes complete sense. Sadly, I am a typical IT type - literal and pedantic - which is probably more accurately described as a flaw, rather than a trait.

Next time someone says “definitely not”, I am coming to you to ask you to translate for me.

I was annoyed and embarrassed about having repeated what the boss said about placings at the AGM, rather than being unhappy with the placing.

I have always said that being able to ad lib as situations change, is one of his strengths, as is his ability to take advice. Sticking to the script would have had us working tailings with old kit, selling into a poor market and losing cash.

I prefer things to be reassessed and improved on, whenever possible.

Excellent shout out on FLYBE, by the way. If I was less WRES obsessed, I could have made money there!

No Bob!!

I have made so many mistakes in the past. Some trivial, some serious, but regardless of size, I try not to make them worse, if I can manage that.

Yes, that was my fault, is a good start, followed by a genuine apology. I will try to do better, also helps.

I am going, God willing.

I thought it might be a bland affair, but it looks as though Mr Masterman will have a lot to talk about. I well understand that several of our number will stick to the party line of not believing a word he says, but I will be listening attentively.

There will be no need to be defensive about having a placing after repeated, public assurances to the contrary, if there is a noticeable advantage to shareholders, eg, developing an existing asset, or picking up an asset near to Regua or LP.

Remember that we have two brand new Spanish NEDs with 30m options at 0.55p. Perhaps they will use their much publicised Madrid Money connections to get a wodge of Euros replace the Blackrock loan, finance the new asset, or both.

Mr Masterman helped make one mega minor, so he is the best person to make a major miner. (C,D)

Jaffaman, I suppose there might be some prep work required, but production there depends on moving the old concentrator from LP to Regua, so that does not get him much further forward.

Good point, safetyman, I must start reading these RNSs properly. All the words, etc.

Chriskies, I agree with you.

I was suggesting that some PIs, not IIs, needed some hand-holding. How many times have you seen "If this is such a good buy, why are the IIs not buying in?"?.

Yes, "working capital" is vague, but since I do not believe we NEEDED the money, what else could I expect?

Yes, Miton offer no strategic expertise. They just want to invest in high-return businesses.

No arguments from me!

Although Mr Masterman said we would be funding Regua from LP free cash flow!

More like, he could not resist bagging the first II,

Just my viewpoint.

We have millions in the bank, I believe, so I don't think we needed this placing. I think the main attraction was to get a big name on the register.

If it turns out that their investment was significant, that will boost the sp. Some people just like some reassurance before they buy, so Miton buying should help those people to invest. Some people wait to see JORCs, or funding, or plant installed, or production, or accounts, or even dividends.

Usually, every time you reduce risk, you reduce reward, but WRES has had so much mud chucked at it, that the great mass of reward is still very, very cheap, IMHO.

Where else can you buy a miner, just starting production, for a MCAP less than its prospective EBITDA?