Member Info for MickR

Polo Resources is simply disclosing its shareholding in WTI. The fact that they are not selling and holding on to their 54m shares looks good to me.

Was tempted to get in at 104p the day of the bad news...But got distracted and missed out on a good 50% trade. Looks like this has still got legs.

Jimzi, Not sure why Orion could consider doing a RTO as they could simply buy another 5% and put in a bid for the whole company.

The Interprid board of directors have also added this statement: "The Board of Intrepid is considering the options available for Intrepid�s Zambian assets in light of the current copper price environment." To me that indicates that Kitumba may be worth a lot more than what WTI was buying it for and that even if WTI does not buy it, they will consider other options available in view of the increasing Copper price.

See this RNS by Interprid Mines re: Kitumba: https://www.asx.com.au/asxpdf/20180430/pdf/43tlryq64qhcnz.pdf Question is will WTI find alternative funding to proceed with the purchase as authorised by Orion, or won't it? We will know by 18th May.

Wanted to top up yesterday at 0.20p but didn't have any spare funds.

The RNS clearly states that any sale is expected to happen within 6 months so anybody saying that Orion will put the company into liquidation are misleading investors IMO. Furthermore, Orion is a sophisticated mine financier and I would eat my hat if they have not made provisions in their books for some if not all of the WTI debt. The strategic review also talks about getting value for shareholders so I do not think that Orion is going to screw minority shareholders. With any mining asset, there are always risks which cannot all be foreseen or taken into account. The Namibian dollar exchange rate is not of WTI�s making, neither is the copper price, or the ground water which seems to affect the life of the mine beyond 2020. Why Orion did not agree to the extension of the Kitumba long stop date I do not know, but it would have originally agreed to the deal being done. Had WTI directors been negligent, then I would have faulted them and so would Orion I am sure, but they have not been negligent unless someone can point this out to me. No point bashing the company, it did not draw up the BFS. All I know is that the company is looking for bidders, The Kitumba mining ministry approval lapses around the 18 May if Interprid do not pay the transfer tax, so we will know in the next few days whether the company has managed to secure alternative funding for Kitumba or not. All I know is that I would rather see a SP of 1p than 0p. Good luck

At 2m odd market cap, the market has all but written off WTI. Any whiff of positive news and the SP will go off like a rocket e.g. a bidder emerging, a JV partner for Kitumba, life of mine at Tschudi extending beyond 2020, ground water, Orion debt being restructured etc. Now much left to fall between here and 0p but a lot more upside so I am a holder on a risk/reward basis. The company cannot be blamed for the woes at Tschudi if they are due to groundwater which was more than forecast in the BFS, that would be an Act of God, no? Orion should also perhaps take a long term view rather than hoping to recover their investment in 5 years or so. If you can get a mortgage for 25 years or longer, surely more time should be given to repay the mine finance, with all associated risks. Fingers crossed for all genuine holders, including me.

As you continue to bash here, how are your babies NUOG and AST doing?

So we have a Bhavesh Patel listed as our nominated advisor/broker. Any connection between the two Patels? Time to get the popcorn out me thinks...

Is a lady...who is this mystery person who bought over 1% of the company on the day of the huge drop in SP? Surely not a random PI?

In Namibia....good to see if this eases the groundwater concerns..

The first we heard of the 2020 date re : life of mine of Tschudi was late April 2018 after Orion told WTI that they will not extend the Kitumba long stop date. It appears to me like WTI are trying to box Orion into a corner? As for the Orion debt, I am pretty sure that Orion has made a provision for this in its books as WTI has been banging on for years that they may be unable to pay any /all debt to Orion. Orion only have a security over Tschudi not the other WTI assets according to my understanding so by saying Tschudi life of mine may not be beyond 2020, WTI is telling Orion that its security may not be worth much. I am a holder and will hold till the end as I think there is more than meets the eye.

Some issues to raise: 1) The Tshudi life of mine was stated to be 11 years and I believe production commenced in 2015? The company recently said that it was assessing the life of the mine beyond 2020. The 11 years was backed by a JORC compliant study? The derampers will have you believe that the life of mine ends in 2020 which is a case of misleading investors. 2) The Kitumba acquisition was supported by Orion originally and the only issue was the extension of the long stop date due to the fact that the Mining Ministry approval had not yet come as of the back stop date. This was not WTI's fault. The mining ministry has made it a condition that the approval is conditional of transfer tax being paid by Interprid by the 18th May I believe; 3) The Kitumba acquisition was for about $4m I believe which was to be drawn down from the unused $7m facility from Orion. 4) Orion has not put any of its investee companies into administration or done any fire sales from my research over the past few days. It takes a long term view, not a short term view. I am a holder of WTI shares and continue to believe that this will all come good. I was a holder in AAL at 200p and Glencore at 60p and Kaz at 60p and Evraz at 50p. DYOR

It looks like the gloom and doom merchants are making out as if this company is going bust tomorrow. The Orion debt has already been rescheduled as per the RNS of 3 April and when the debt was there even when the market cap of this company was more than �15m. The market cap is today less than �3m and we know that there is a strategic review of the company ongoing which may or may not lead to an offer for the company. Fact remains that Orion have supported recent acquisitions and agreed to the reschedule of the debt as follows. The increasing copper price may make this attractive to a third party who may be willing to pay off the debt and make a reasonable offer to shareholders. See below Debt financing and rescheduling of repayments Weatherly has entered into a further amendment and restatement agreement in relation to its existing facility with Orion (the "Amendment and Restatement Agreement"). The first repayment of Facility B, previously due on 31 March 2018 is now due on 30 June 2018 and payable quarterly until 31 December 2019 with a final payment due on 28 February 2020. The Facility B Final Maturity Date remains unchanged at 28 February 2020. Facility B will be repayable in 8 equal repayments of capital and accrued interest of US$14.1m. Repayment of capital and accrued interest of US$11.0m under Facilities C and D of the Amended Facility has been deferred until 30 June 2018. Orion has agreed, effective until 30 June 2018, to limit its acceleration and enforcement rights on the terms set out in the Amended Facility.

Is clearly letting shareholders down. I counted 9 RNS's in April 2017, this April, we have a big fat egg so far! Sentiment is rock bottom and genuine investors feel hard done by Zorbas. Interestingly, I was reading up on the statutory duties of directors and they include: promote the success of the company-Well Zorbas appears to have done sweet FA for several months now, if he is working behind the scenes, surely some kind of a Podcast should be released to state where we are; avoid conflict of interest e.g. being on the board of Captor who is also a major shareholder An interesting summary of the above here: https://www.burges-salmon.com/news-and-insight/publications/the-responsibilities-and-duties-of-a-company-director/ Come on Zorbas, pull your finger out...you owe these duties whether or not you are taking any pay!

Thanks diggit1gold.

I was looking to buy into MRS directly as I see it sitting much higher around Christmas time. Currently 8p or so. However, URU has a substantial stake in MRS of 17,550,000 shares worth approx. 1.4m pounds. URU market cap currently about 4.4m pounds of which MRS is 1.4m leaving Zeb valued at 3m or so. Excluding cash and any other asset. I would therefore rather buy URU as getting into MRS on the cheap along with the possibility of a Zeb sale this year. If you ignore the daily and hourly and minute by minute share movements in URU and come back by Christmas, there may be a good payday awaiting. All IMHO DYOR etc

Is good, let the sellers sell and buyers buy, before news lands..spikes are bad as they usually come down as fast as they go up. Nice and easy.

2 buys of 2m shares each...news finally coming?