Member Info for mogwhy

The mis-understanding here appears to stem from the fact that there is a delay in the execution of the corporate event. To qualify for the CAI distribution you have to be on the share register on the record date. In this case the ex-date is a day later. If you sell inbetween these two times, you pass on the benefit to the buyer. This appears to be what the LSE rulebook states below.

"When an issuer undertakes a corporate event, there needs to be certainty as to who holds the benefit of that event, where an execution takes place before it is completed. Unless the counterparties specifically agree otherwise the buyer assumes the benefit when trading ahead of the ex date and the selling party would need to pass the benefit on to buyer if the seller is still the recorded owner at Record Date. Likewise the seller retains the benefit if execution takes place on Ex date or later. If the buyer is already the registered owner at Record Date it would in turn would need to pass the benefit back to the seller. "

An HL update just now.
"Further to our previous correspondence regarding the Keras Resources plc Demerger of Calidus Resources Ltd, we have been made aware from the London Stock Exchange that the ex date for the Demerger was today, Thursday 21 November 2019. Therefore, you must have held Keras Resources plc Shares at the close of business on 20 November 2019 in order to qualify to receive and retain the new Calidus Resources Ltd Shares."

I think HL are correct. This from the LSE website.
"When an issuer undertakes a corporate event, there needs to be certainty as to who holds the benefit of that event, where an execution takes place before it is completed. Unless the counterparties specifically agree otherwise the buyer assumes the benefit when trading ahead of the ex date and the selling party would need to pass the benefit on to buyer if the seller is still the recorded owner at Record Date. Likewise the seller retains the benefit if execution takes place on Ex date or later. If the buyer is already the registered owner at Record Date it would in turn would need to pass the benefit back to the seller. "

The £10k trade is almost certainly a buy.
I 've just been quoted .313p to buy.

Thanks Chesh & SBK - it seems that HL are wrong then.

joey - they look like a rollover.
The difference in price is the cost of the rollover.

Note the following statement by KRS from the demerger document.

" The Record Date is expected to be on or about 19 November 2019 and the Company will notify
the firm date by Regulatory Information System prior to the Demerger becoming effective."

For any potential new investors looking in who value a boards financial commitment, here is a list of Michael Mastermans share buys over the last 7 years since the sale of AIO to WRES.
June 2012 £50k
Jan 2013 £100k
July 2013 £50k
May 2014 £180k
Nov 2014 £8k
Jan 2015 £152k
June 2015 £140k
Nov 2015 £75k
Mar 2016 £75k
Aug 2016 £100k
Nov 2016 £100k
Mar 2017 £150k
Jun 2017 £50k
Oct 2017 £100k
July 2018 £24k
Aug 2019 £41k

and Byron Pirolas' share buying history
May 2009 £160k
Dec 2011 £100k
June 2012 £100k
Nov 2012 £50k
July 2013 £50k
Dec 2013 £50k
July 2014 £100k
Dec 2014 £10k
Jan 2015 £50k
Mar 2015 £50k
June 2015 £160k
Aug 2016 £100k
June 2017 £50k

Serious investors do peer comparisons.

We can take the ORM comparison one step further by comparing market cap.
Orms 30% stake is currently worth £12m.
That values 100% of the project at £40m.
Wres market cap is £20m with less than half the debt.
Is orm overvalued or is wres undervalued?
Go figure.

Just for a spot of context, this is a similar sized mine, in the same jurisdiction, at a similar point in the ramp up of production but with more than twice the amount of debt.
https://tinyurl.com/y5uy5jw9
Note the eye-watering levels of interest. At least we'll be able to refinance our debt early next year at a reasonable rate.

Note that devilsbeasts' post from 09:44 yesterday has been removed.
Admin agreed with me that the post contained defamation of character by insinuation.
Further action may be forthcoming.
Be careful what you write as the law applies to bulletin boards as well as the real world.

"For something to be true, it needs, of course, to be proven to be true. That is the definition of truth."

Absolute rubbish jaf.
If someone in the middle of nowhere sees Bigfoot, that is the truth, but they can't prove it.

And once again you fail to understand the difference between truthful facts and future projections based on possible outcomes of engineered design and planning.

"No statement that is true can ever be libellous"

jaf1948 - I can't believe that you are this naive.
You can go to prison in the UK for making truthful statements that you can't prove.

37% Mn rises in price for first time since August.
https://tinyurl.com/se5be95

devilsbeast - why would you assume that I'm right when I say that the BlackRock interest payments are paid quarterly?
Why don't you verify it yourself.
Or do you believe everything you read on a BB.

devilsbeast - why would you assume that I'm right when I say that the BlackRock interest payments are paid quarterly?
Why don't you verify it yourself.
Or do you believe everything you read on a BB.

APT price is unchanged this week.
Tungsten APT European US$225-245/mtu vs US$225-245/mtu

Tin is slightly down at $16,180/tonne

Using the lower figure of $225 the company will be generating over $22m pa in revenue and around $10m pa ebitda when it reachs only 50% of its design capacity at 100 tonnes per month.
Shouldn't take long to get to that stage.

Beware of the lies and scaremongering being spread by devilsbeast.
Here's an example.

"Leaves current capital 522k.
Next months interest payment alone is 700k + Salaries, Fixed costs etc etc..."

The company makes quarterly interest payments to BlackRock, not monthly.
The next payment is due mid-February.
BlackRock are obviously supportive of the company by their actions.

The directors making unsecured loans to the company are an indication of their belief in the viability of the project going forward.
Despite what the bashers here would have you believe, wres is producing tunsten and tin concentrate. This has been RNS'd.
Our off-takers pay us within a few days of delivery.
So the company is generating some revenue and that will only increase in the following weeks and months.
Along with the incoming funding, director support and 5.3m grant in Q1, there is a clear pathway to profitable production.