Member Info for leapfrog

Telling us a director making statements about anything other than reiterating what is in the PD to a PI is true is totally inaccurate and rubbish. The consequences for that director would be immediate resignation attached to heavy fines So why do you insist you have inside information. Then tell us why you put that directors career at risk. The only part of anything you have ever said that makes sense is BOD read the forums.

FWIW I would not Consider a punt until after the next RNS which should detail the survival plans agreed for the company.

Really you think they won't dilute the shares ! Clutching at straws? They have zero collateral for further bank funding. So how else are they going to raise money? They have had to defer a pre arranged payment of a million so have broken their banking covenants. Why have they deferred payment - because they don't have the funds to pay a million let alone the 15% interest which is now compound. Presumably you understand compound? They are in the position where they have to raise money it's why they are in negotiations They have zero free assets and an appalling balance sheet that cannot recover without massive further funding. They have less than a month to sort their problems out because the next payment becomes due and they have not made the first one so that �1 million becomes �2 million out the window at the end of the month. Assuming CP. As for shares which' won't be on the market' that's absolutely daft if they are not on the market how can they be valued ? If your referring to options being given first you pay for the shares and get given the options -the options won't be on the market until paid up, but the paid for shares will be on the mkt. So where is the money coming from if not dilution? Having read back your post seems to be missing why?

Your response is eloquent as usual-and allows your said information from the BOD to be cast into doubt. So unaware of what a dilution situation really means suggests no stop loss review procedure being in place so that when the shares hit a maximum loss situation the bullet was bitten. A daytrader alongside many city friends yet cannot recognise or accept the truth In response to your question who owns etc., they own 51% so they pull the plug or arrange/supply further financing. We know the original offtake agreement gave an 80% guarantee to them although doubtful it is still in place after the last financial review. What have your questions got to do with the wolfs situation? I mentioned the potential of selling at the 4p/5p mark a few months ago, the previous RNS clearly showed they were in trouble so a decent forecast to the Sp was it would continue to fall - The basis to perhaps exit at a loss to buy back in after dilution to at least double+ original holdings and have a chance of recovery at no extra cost. I remember buly dealing with the post in a similar eloquent fashion. Had the biased thinking allowed for consideration of a different viewpoint in investment terms sales proceeds would have been 33% above today's price resulting in a better thinking pattern waiting to reinvest after dilution. EOE

'Wolf do well' Yes. Entirely possible if and when when new arrangements and finance all agreed and in place. 'Doing well' will be at the expense of shareholders who will see their shareholding ownership of wolf reduced by more than half-pro rata the size of the increase in the number of shares issued . Then to add insult to injury the issue price will also be ~half existing sp. Wolf cannot do a VWAP issue on the sp because as soon as discussions are concluded it has to make an announcement so any fund raising mentioned within the announcement will be at a predetermined level somewhat less than the existing sp. Essential hitting shareholder values twice - simply put any holdings will end up in real terms at a quarter of today's value. It is surprising how many PIs don't understand what dilution actually means in most cases where it happens. It might be argued that the extra funding adds value in this case it does not add value because any funding will be spent on bringing the company to breakeven plus over expenditure. You have an old car and you fit a new engine,the cost of the new engine does not increase the value of the car but keeps it running . Part of the reason for a potential shut down is the huge additional ongoing cost of appeasing local populace complaints. The expected RNS will be very interesting whatever happens. EOE

Your expression to quote " idiot ramping monkey" should be withdrawn stv ! Monkeys are not ramping idiots. Whoever suggested WRES is being shorted deserves an award for a complete lack of trading knowledge about shorting let alone wres which is in development mode.

Good SII,the proposed deal will be paid in shares so expected price around half a million nevertheless the SII would still be in low numbers even if there is some additional funding raised for the companies coffers. The sooner news arrives the better.

To deny wolf is in financial trouble because it cannot produce enough to earn sufficient to meet its past commitments let alone the ongoing growth of its debt mountain is almost unbelievable. It cannot continue hemorrhaging money at the rate it is whilst not paying its dues It is only the size of the companies debt to the primary lender that stops wolf from being shut down and sold off. Right now it's almost certain discussions are under way for the restructuring of debt and getting further funding in place to continue running. The situation is not helped by economy concerns over growing interest rates.The current rate is 15% they have nothing left for securing new borrowing so it's odds on that a dilutive fund raising is on its way. The sp is now 3p bid so any dilution will be in the region of 1.5p/2.25p less than half what bully could have partially sold all his holdings for a short while ago. Interestingly how long will the they be able to keep producing without further finance if they cut all expenditure to the bone on the back of rising prices- a few weeks to a month or two?

It's an idiotic statement to suggest threats of prosecution. You would have to have a reading difficulty not to understand LSE disclaimers. It is ridiculous to even think wolf would consider any such thing,get real,they cannot pay their own accounts in full. Read the last RNS

An RNS is expected at the end of February to confirm the continuation of debt arrangements if it has not arrived by then it would mean negotiations are tight and ongoing presumably until agreement reached by one means or another i.e. Dilution. I would expect further debt funding via senior and secondary holders to be limited at best.

They have had 2 placings in about 11 weeks and will soon need more funds to meet existing and growing fiscal development commitments so I am wary of a further placement around April/may time. Although last placement at 0.6p now SII at 1.1 billion. Once again back on watch list.

A remote possibility that WB&H have negotiated removal of their guarantee for 80% of the original funding so have changed their take off agreement by arbitrage to third parties.

Bulyent What is that expression,no not dip**** Do it now buy such a large lump Ah yes The expression -a fool and his money are soon parted.

The make up of the 5 year offtake agreement :- Wolf has to supply 80% of its annual expected average output at 65% tungsten trioxide based on expectations to supply 345.000 tons mtr pa and 450 tonnes of tin pa There is no information on discount but the industrial standard is around 20% with penalties for performance failures The expected annual average was set against the nameplate production. I do not recollect any mention in last years financial rearrangements of changes to the offtake payment arrangements. So presumably the above arrangements are extant ?

Bulyent You truly have lost your grip on reality. I do not tell anyone to buy and sell. If you don't understand the equation of selling higher before a probable cash rising dilution priced circa 2.5p or less than the current sp and then buying back on the dilution price. Not a lot to say. Not even 2 short planks

Agree it's the projected gross cash outflow.

Bulyent you must be very wealthy to write off your what was �400+ k investment but you were almost crying over your losses ang praying that they would recover? So you cannot be that wealthy to cry over it. Or was it the same lie as when you advised I was filtered. You really have not got a grip on reality you insult anyone who opposes your totally unreal line of thinking why is that ? You prove time and again cannot read correctly. Remember the coming dilution will reduce your share of the company by at least 70% now argue yourself out of that one - ahh I forgot you cannot write without insulting PIs Yes the A$27 million short fall is an estimate based on the latest position and what the company expects to happen with prices., I .can see no reason to doubt the figures given on the basis the company does not mince its words on its poor position.

Bulent -Once again you cannot read, I'll repeat without the loans the company would be bankrupt . Thecompany is circa A$100 million in debt with no further drawdown or credit facilities and a forecast shortfall of A$27 million for the next quarter. As for chicken feed what planet are you on What has the value of the plant got to do with anything it needs money to run even a ten year old understands that. You appear to have lost your grasp on reality We Said -.Dilution, funding required, 5 day working week - all true No fairy tales of head honchos or insults.

Any dilution is certainly not built into the sp,that's a daft statement. the MKTCAP is circa �46 million and the dept at �55 million plus interests @15% with a coming shortfall of $A27 million. If it was not for the ongoing debt support the company would be bankrupt. The company has just one month of breathing space to sort out its operational future. So a follow up RNS is to be expected by end of Feb beginning March As for bulents diatribe against Richam, Why because he tells it as he see it? Must be because bullynt is about to see his share of the company drop by about 70%, he could have sold and bought back in after funding sorted to substantially increase his holdings for no extra money. Watch what happens.

There it is the �55 million loan with its 15% interest rate cannot be afforded so it will end up eventually converted into shares increasing the SII to the region of 2.5 billion or more if they go that route for fund raising. Doing so allows for more funding to take place.last quarter it was $A31 million outflow now for the this quarter its a$27 million outflow- at that rate the company will build circa a $A100 million in overall debt so back to square one. Balanced on a knifes edge.