Member Info for K3VMC

I wonder why that is?

I wonder if these 3m are genuine sales?

Looks like Cantors knows who the 3m seller is, anyway.

Ok oldskool, my mistake. That’s just what my broker told me. I flipped the MTR shares anyway. I need my cash for WRES.

Don’t tell him your name Pike!!

Funny old daytrader

I took the MTR placing. They need to wedge up to match MOD spending.

Wassat, there was a placing today at 2.8p, so the price dropped due to flippers selling. There was a RNS, so reading that will help you to understand.

Bonker99, thanks for the excellent work in promoting MTR and spreading awareness. Those 5p warrants will be in the money well before the 36 months is up.

Bulent74

Nothing more to talk about apart from information on shipping quantities and APT prices weekly. Thx

The biggest and most important problem you have is vast, unserviceable debt and inevitable dilution, but I can see why you want to ignore that.

No elephant in this room!

Like the rest of the WRES board, I want the mine to succeed, for the employees and the country. If they had delayed the start of the mine until the W price recovered, like WRES and had bought top of the range kit, like WRES and had a decent management and geological team from the start, like WRES, then the mine could also have succeeded for shareholders, like WRES.

As you point out, this WLFE v WRES thing was a creation of the two account person, who also thought it was ok to be abusive to anyone who disagreed with his ramping, or refused to believe his reports of private conversations with bod members.

He can, of course, post whatever he wants, regardless of truth or accuracy, but he must expect to be corrected, if that is the case.

Bulent74, you are correct. WRES has current funds of EUR17m, plus a future GRANT do EUR5.3m. It has a loan from Blackrock for USD35m. This compares to WLFE, which has next to nothing in the bank and owes GBP140m.

WRES has more than enough cash to get to profitability at the opex level in January 2019. WLFE has to beg for money at regular intervals, just to pay director expenses and keep the lights on. There is NO certainty that WLFE will EVER be profitable at opex level in the near future and NO prospect of it EVER being able to pay off its loans, hence the savagedilution to come.

As for a honey trap, I have no interest in WLFE holders buying into WRES. None whatsoever.

:-))

Daytrader13, I would not say that £140m is chicken feed, but it is certainly less than $1bn.

I also agree that the financial advisor has until 28th of October, when even the emergency bridging money will be exhausted. To find a way of keeping the plant alive.

What you fail to see, is that RCF will own the plant after the £140m is converted to WLFE shares.

WRES is fine. No need to worry about WRES. No clay, new plant, €17m in the bank plus a €5.7m grant, paid after the first concentrate production in January, 2019.

WRES will be profitable before WLFE, that much is certain.

Enjoy the rest of the weekend. :-))

STV, it was obvious from day one. He was permanently banned for being foul.

You can hear the effort he has to make to restrain himself.

So, total debt is senior debt of £63m, plus bridging loan of £65m, plus unpaid arrangement fees and unpaid interest.

Somewhere between £130-140m. Maybe a bit more.

WLFE still needs about £90-100k per day in net profit, just to service the debt, which is bein deferred and added to the principle. NB this simple sentence from the RNS.

Once established, the Priority Bridge Loan does not include any conversion terms and any future convertibility would need to be agreed between the Company and RCF VI.

Since the company has RCF as a majority shareholder, agreement should be swift.

I have posted my opinion, as any poster is slowed to do. You are a wild optimist for WLFE. I would not like anyone else to be sucked into losing money here, because of your ramping.

If you can answer my points, then we can have a civilised debate on the basics. Investors in WLFE ignore the basics at their peril, as in every other share.

Obviously, you have no answer to my points, hence your personal attack.

Daytrader13

Like you say kvcm your guessing which is a pointless exercise.

Not guessing. Approximating. If you know the total debt figure, please tell us and we can use that figure instead.

If RCF were going to do that it would have been done before now and they wouldn’t push in further short term lending .

Why would they do that now? WLFE has nowhere else to go. They are on a hook. RCF can reel them in, any time they choose.

Could you tell me how many shares are on issue with WRES ...to the nearest billion as a matter of interest.

Five billion shares. There will be a consolidation with the first dividend. Regardless of the number of shares, the mcap today is less than the ebitda predicted for 2019.

Shouldn’t think much scope for dilution at wres so where they will get the 100,000000 from I do not know.

That may make sense in your world, but not in mine.

Mines not even built.

At least you got that right. Mine completion is scheduled for the end of 2018.

Anyway I hope it all goes well there even with Brexit looming.

WLFE is and Australian company, with a mine in the UK. La Parrilla is owned by Iberian Resources, a Spanish company with assets in Spain and Portugal, so again, you make no sense.

WLFE is heading for a 9:1 dilution, which will make a WLFE share about 0.2-0.3p. Don’t believe me. Just look at the mcap and the debt.

Troajan, of course it was in response to inky.

His post was a complete ramble. I replied to your post because it concerned mcap only.

No offence meant.

:))

Mr Masterman has already built two billion dollar mining companies.

Winner C and D, so a good bet, in my book.

Take £150m as a rough guess? What is the interest rate? I know the later loans are 15%. Were the earlier ones much lower? Let’s say 10%

So WLFE has to make £15m net profit, to account for the interest repayment. I know it is being capitalised, but it still ha to be paid. £15m net profit, just to keep the lights on. Year after year. £15m.

Of course, the debt is mounting daily, by AT LEAST £100,000.

This level of debt is not sustainable. Something has to give, and that something is existing shareholders.

Current mcap is £23m. RCF has 56% of that. WLFE owes RCF £150m, for the sake of illustration. RCF then either makes the company insolvent and picks up WLFE for a couple of million pounds, or asks WLFE to issue £150m worth of shares at the current sp. RCF used to own 56% of WLFE, but with the £150 debt swap now owns 94% of WLFE, while WLFE shareholders (other than RCF) now own 6% of WLFE.

So dilution from 54% to 6%, roughly.

You can discuss $4m missing revenue all day long, but that is NOT your problem. Your problem is massive dilution.

Inkisblue. Nasty. Small-minded. Those are probably your best attributes.

Did you mean nuns' candles?

AND no nasty surprises, either. We don't like nasty surprises.

$30-40m, provided the plant is constructed properly and the market for tungsten holds up.

Also planet Earth is not destroyed by a super-volcano in Washington State. And no nuclear war either, natch.