Member Info for MTSparky

Orion can’t call in there debt and put WTI into administration. If that were true WTI would be finished game over today. No point in a review or seeking other options because there would be only 2 options if that were the case. Restructuring the debt or going bust!! Who would want to lend money to or buy a company that has a noose around its neck held by a third party?

No-one on here knows anything about the future with 100% certainty. All just opinions. DYOR always. Folks saying this company is going down with 100% certainty are misleading people.

Billthebank, if you read the interims it states that WTI actually paid off $1.5m of debts to Orion.Tschudi is actually generating a fare amount of cash, clever accounting is wiping out profits for tax purposes, like depreciation $8m !!

Are Orions debts secured against the company or against Tschudi ?? If against Tschudi surely Orion calling in their debt would not send WTI into administration but they would lose Tschudi? Up until a few weeks ago Orion were fully behind the purchase and funding of Kitumba. They changed their mind because a bit of paperwork wasn't in place. That paperwork is now in place. If WTI went elsewhere for funding, which is something WTI are looking in to, surely no-one would lend them money if they thought Orion could pull the plug and send WTI under at any time they wished. I am inclined to think Orion cannot send WTI under by calling in their debts but not an expert

Coppers rising again come on WTI let’s have it

Great stuff. Hope someone backs these guys with finance for Kitumba. $120m debt would be small change and easily repaid.

Potential 70,000 tonnes per annum at what $1500/2000 profits per tonne. I am guessing that deal is just too good to walk away from.

....WTI up. Great week ahead !!

Stinks to high heaven. The self destruct button was pressed deliberately IMO. They will buy on the cheap. Feel a bit sorry for those that sold out for big loss.

Glad I topped up. Hopefully big move today as predicted. Maybe a counter offer will appear too. 70000 tonnes at Kitumba surely a deal has to be done on that big boy !!

Keep hoping !! New funding news on Kitumba soon.

According to RNS several options all on the cards. Keep the faith Mannan !!

So what happens if WTI find alternative funding route for purchase of Kitumba?

It’s interesting that Orion have given WTI permission to get alternative funding for Kitumba. Orion didn’t say, there is no way you are taking on more debt without first repaying ours. We can get through this keep the faith !!

Ok TDT you’ve sold so please just move on. Everything you have posted has been garbage ramping so please do one now.

Asset sale part of review so we shall soon find out if offloading Tschudi is an option.

WTI could purchase Kitumba from cash they already have. Major falling out between WTI and Orion and I think the sale option is there to force Orions hand. Orion have shafted WTI. This will all come good ....I’m topping up !!

Hahaha never ceases to amaze me how rampers become so negative once they have sold, eh TDT!!

Initial cost US$3.5m. 12th December 2017 Orion gave WTI approval to use existing loan to buy Kitumba. If the approval had been received a couple of weeks earlier the purchase would have happened. Orion still think the asset is worth buying or they wouldn’t give approval for WTI to find alternative funding. Maybe this threat of selling up is all just a game being played out to get Orion to back off a bit.

Yes the loan does still exist and actually I was just checking the interim results from March. Orion release $3m to WTI leaving $7m undrawn. It also looks like WTI repaid $1.5m of the working capital loan to Orion so for the period total loan was $1.5m. Why would you release cash to a company you are prepared to let go to the wall? There is clever accounting going on here, like the $8.2m attributed to depreciation. This company is actually profitable.