Member Info for K3VMC

Got it! This is from the Settlement Agreement RNS of 20th April, 2018.

Under the terms of the settlement, GR Engineering has agreed to contribute a settlement sum to Wolf to fully fund the expected cost of the noise and vibration management plan at no further cost to the Company. Upon receipt of the settlement sum, Wolf has agreed to return to GR Engineering all security it holds under or in connection with the Contract, including the £7.5 million Performance Bond.

So, they hire the mobile crushers to stand in for the main crusher, which gets taken apart and rebuilt properly.

Whether that fixes the excess noise and vibration is another story, of course.

We already know that a mobile crusher ups the opex by $50/mtu, so WLFE will be doing this out of necessity, for whatever reason. The company was losing money with every bag of concentrate they shipped, before they hired six crushers, so why up the costs?

Maybe there is an off-take penalty for underproduction to-date? Maybe the penalty is greater than the cost of the mobile crushers? Worrying times. Surely WLFE should issue a RNS and clear up these nagging doubts?

A honey trap, but with no honey.

Looking at the sp, debt level, the inability to service the debt level and the amount of dilution required to satisfy RCF, I would definitely invest in WLFE at about 0.9p, then wait for them to slog it out to profit in about 4-5 years.

All IMHO

Blimey is the expletive of choice!

I promise you, I never paid anything like that price!

HH, the hotel is booked.

Red flag.

Every mtu you produce loses you money.

Your opex is greater than your sale price.

The 15% interest, which you cannot afford to pay, so it gets added to your debt mountain, went up by £300,000 JUST IN THE LAST WEEK.

WRES has paid for bespoke, brand new kit from the best manufacturers in the world, not some dodgy old Chinese tin stuff that was built to handle rock, not clay. On top of that WRES has EUR17m in the bank.

And please do not worry about the camera. It is up and running.

I feel for WLFE shareholders who are 90% down on their investment., but they can easily make it all back in WRES.

Oh dear. Your mcap is £32m ad you OWE £100m.

After CLN of £100m, your sp drops from 2.9p to 0.928p.

Do the maths. If you are daytrader or Bulent, ask a grown up.

Really?

You owe £100m but the interest rate is 15%.

That means you have to make £15m PROFIT just to pay off RCF!!!

Ahem! When was the last time you managed to break even on your crock of poop.Sorry, clay?

Just asking.

If you could make £30m profit every year, for the next six years, you would still owe RCF £10m!!

But that will never happen, because that £100m will be shafted, pardon me, converted, into £100m convertible loan notes.

Remind me. What is your MCAP? Very good. Now inflate that to dilute the SP for the CLNs.

Wiped out.

DYOR. If you are daytrader or Bulent, ask a grownup.

I cannot believe that someone bought £3000 of WLFE Today!!

£100m debt and getting bigger every day!!

Interest is being capitalised at 15%. Once this £100m+ has been given away in convertible loan notes, they will be in a death spiral dilution purgatory.

Expect to be diluted 3:1 if you are lucky. 4:1 would be about right, but 5:1 at the worst.

Bad luck, I am afraid to say.

I believe that is the case. I can ask Mr Masterman when we are likely to see the first shots, at the agm.

Thank heavens for commas!

The camera on site was never intended to be a live feed. It is going to be a time-lapse camera that will be uploaded to the company website at ad hoc intervals.

You can bet on getting a RNS.

What a coincidence that they were all posting last week!

No such thing as price manipulation is there.

He had a hit with Fortescue, but do not forget his success with Anaconda Nickel. With WRES, he is aiming to have his third huge success, but this time it’s personal. Luckily, we get to join in.

Being a good CEO has many facets and it is possible to pick some out and focus on them. There are lots of facets to Mr Masterman that most investors do not get to see or appreciate, but I suppose that is the case with CEOs generally. A few niggles aside, i think he has played a blinder here, so I have no reason to witter on and on about the small stuff. All i need from WRES is a ten bagger. Everything else is a bonus.

Loads of other shares in loads of other sectors. If WRES is not for you, you can have your pick of any other money fountain.

No jaf. That is a fact.

He started it, funded it and took no salary for working for it.

As for getting production started earlier, if that is what you wanted,perhaps you should have invested in WLFE? Even at full stretch, it would take years for them to pay off the debt mountain. As it is, RCF will own most of WLFE and leave the PIs with a pittance. Or ORM? Lots of very good PR there, but with $99m debt and only owning 30% of the project?

Jaf, without Mr Masterman, There would be no WRES to be successful.

According to WLFE quarterly report.

a forecast gross cash outflow of A$28 million for the coming quarter.

Do we believe WLFE, or the rampers?

2cvguy, sorry, you are correct. I should have posted that no sane person would call "a forecast gross cash outflow of A$28 million for the coming quarter." cost reduction.

Cash is, indeed, still being reduced. But no need to worry! RCF are there with their payday loans at 15%. Maybe another A5m? A10m?

Then they can be converted into death spiral Convertible Loan Notes. RCF will make loadsa money on this mine. Nobody else will and PIs will be diluted with every extra metre they dig down into the clay.

The net cash used in operating activities for the Quarter was A$7.0 million, including A$2.5 million on development, A$13.6 million on production and A$0.7 million on finance costs, with revenue of A$13.2 million. As stated in the quarterly cash flow report (Appendix 5B), also released today, the Company had A$4.4 million cash at the end of the Quarter, with further funding of A$9.0 million available to support revenue, on a forecast gross cash outflow of A$28 million for the coming quarter.

GROSS CAH OUTFLOW OF A$28m!!

Hardly what any sane person would call cash reduction.

How much more will WLFE have to beg from RCF BEFORE they issue them with the dreaded CLNs??

Dilution by 66-75% on the cards. Just wait for it.

Rabbits in headlights.

Good morning all!!

Bob, i feel sorry for him. I know he is a pain, but he lost so much in WLFE and now he gets to watch WRES rise into production.

He will be supping sorrow with a knitting needle.