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I would think BR have added in a nice 'Brucie Bonus' for the debt roll up. Maybe they did it for free. In that small number of employees you need to add the 20k that MM is taking, unless he has stopped of course. His expenses and others too. The BOD are claiming their bits where they can. Local taxes, bills (sundries) and so on. Are you really telling me that Aaron Szumilak, Juan Valledore, engineers etc are earning that piddly wage? They are, allegedly, the best in the game, and some on here are giving them the salary of a tomato picker. Seriously? Office admin staff wages for all? What about costing for on-going bits at Regua, even a site guard. Hire of secure fencing etc...it all adds up. PR team, you can include any broker costs into that. K3 the 1st year loan rate was 14%, a large chunk of that has been rolled up. You cannot ignore that year and the costs including unpaid debt which will be compounded. 13% is year two and how is payment that going? This is close to 750k.
Langtro...is that for people interested in milking? You know, like a dairy farmers chat site? Do the farmers submit 'teets'? Or is it a failed erotica site?
Troajan. Now correct me if I wrong but didnt you say something about the start of December....now what was it? Oh yes....
If no extra extra extra financing this year then how will they
WRES pay the bills? There is not enough money to get WRES to Christmas without significant production and related sales. WRES needs the financing.
Wow, some deep debate. Hbob. I will vote for that for the names out the hat. You may need more than one hat though. I will just add that anyone on a share BB must be invested in the stockmarket or at least looking to. So, as an investor, you are happy to take money of the next person aat next to you (not literally). Thereby you make them poorer. I do love some of the champagne socialist comments on here 'yes, more tax, yes more tax, ohhh but not me, no not me, someone else should pay more.' You cant beat the virue signallers, lovely jubbly. I still look forward to said champagne socialists loading photographs onto Twitter. You know, the photographs of cheques being handed over to good causes of wider social value. Well you surely wouldn't be in this game for your own financial advancement, or that of your kin, would you? That just wouldn't be the case would it? Surely not? I can hear the corks popping from here....champagne anyone?
Troajan. The global corps will just move around. They dont dodge tax. They play the game. They pay the tax legally required. It is up to all governments to agree the tax of global corps. They wont. It is wrong, but will not be solved by moving them on. If you want to benefit from global corps then buy them, open to all.
Ali G was very funny.
That there is the problem Hbob. Poverty is not defined and is rather subjective. Ask someone in Mali. Right now there is not one day in the working week where i dont work with people in 'poverty'. Funnily enough many enjoy Sky, have a car (no need as you get a free bus pass), visit the pub. Drink at home. Smoke and have cash and a significant number have their nails done every week. I am confident that I see more 'poverty' in one day than many on here see in many months. We can all pick examples of the 30 a day smoker that lived until they were 95 but that isn't the real picture nor is it the norm. I grant you that there are pockets are real poverty, ingrained. I would argue that the issue is not poverty, the issue is the inability to manage money, cook properly and break the cycle of social restrictions such as education. Locked in some may say. The problems are heavily concentrated in the white working class (formerly for many). Who let them down Hbob? Who is leaving Labour in droves? Who opened the floodgates for unskilled immigration in the late 90's who were then competing in the same environment as the traditional working class? That was the final nail in the coffin for the traditional working class. Who abandoned their core voters? Neil Kinnock knew labour were lost. He has spoken about it. By blaming poverty for peoples ills you do a great disservice to all the Irish immigrants and all the commonwealth immigrants in the last 100 years that arrived with nothing other than a suitcase. They faced poverty, abuse, they moved for work, left family, gave up home and many, many, many made it work because they made it work. Well done to them, they earned it. They had to make it work as there was no nice welfare cushion.
Is that the same guy who saw MM leaving a side room with a smile on his face? TWICE! Seriously? Blxxdy hell, this ridiculous. MM has struggled to secure finance for the final push, BlackRock are the primary lender, and people think he has done some deal in a side room. Did anyone in the side room leave with a bag of cash and say something about Black Money in a suitcase? What about a filofax? Was a filofax seen? Real news only. RNS on friday....urgggh. Let's see what tomorrow brings.
Now that is a ramp. A beauty of a ramp. Side rooms and deals ha ha ha. Brilliant. Welcome to the 80's. Blue finish, nice. Roll on the RNS, must be tomorrow.
Safety...have a listen between 1.10 and 1.20. Covers it all.
https://
youtu.be/
_FNj36on4A4
Just line it all up by pressing delete before each /
Safety.....the £100 was about investing (not not investing) so that trolls can comment. Some now feel that if you aren't invested then your views are worthless. So if all the trolls split £100, then the trolls are invested and can comment. Also, he absolutely, 100%, said the BlackRock Funding was for two mines. See the interview he did in South Africa, the mining conference one. There is no missing it. He later refers to it on Proactive and states there was some confusion. IIRC he mentions confusion on the investors part (hmmm, why is that then Michael). After that interview (Proactive one) I stopped buying and started selling. Selling the rest earlier in the year. He lied. A Fortescue CFO main man doesnt make errors like that. No sir.
So MM has bought 65ks worth. Meanwhile paying himself consultancy fees of over 20k a month. Now that is some return. Most people could only dream of such a nice steady income stream. BP, nothing for 2.5 years and clearly pulled out of latest raise - I have already noted the change in language from BOD to MM in recent RNSs.
Langtro and Troajan are bottom feeders and admit to it. Good luck to them, but they were way off calling it correct here. I would be a further 50% down if I hadn't sold out on my final tranche. That is crazy. That is not investing that is gambling, hence I sold out. Risk vs reward and revisiting investments. Never be afraid to get out, chances are you can buy in again even after a spike. Holding on and wishing is not investing. It is wishing. Any 'investor' using the phrase 'good luck' is better off at Chelmsford. WRES may turn out to be the 99-1 winner. This week will undoubtedly affect the odds.
Soon be Friday. Could well blow the roof off. Equally it could be a torpedo.
Safety, MM is a duplicitous man. Smoke and mirrors I have no idea why Oz CEO's get such a bad press. Perhaps they are a victimised minority. MM has created a pickle. Well, this week should clear the smoke (see what I did there re Oz connection) that is for sure.
And Oldie. I am under the bridge listening for the trip trap, trip trap. Or is that clap trap, clap trap. Hopefully not the clap...ohhh....nasty.
Redress and compensation can have very different outcomes. These two words are not interchangeable in this context. I stick with my thoughts that any redress, if there is any redress, (K3 uses the word compensation) is likely to be many many moons away. It would be nice if MM told the market if there was compensation and how that looks, as there have been a number of months to progress this. Hopefully in a civil manner first and thereby avoiding things turning nasty. Legal process can be a very long journey at the best of times, and I would expect even longer when one considers that the two parties operate in different countries. Prolonging (some may say dragging out) due process is not uncommon in court cases (civil and criminal)...it is a dance. A very long dance. Makes for good theatre, if watching from the sidelines. Not so much fun if you are one of the parties involved, especially the aggrieved party.
'Oh well never mind nothing posted on here really matters much anyway'. Said GIT. Brilliant. Finally a pipe smoker sees the light and acknowledges that 'trolls' do not affect the SP. GIT, you have gone up in my estimation.
K3. I read well, all day some days. I have not seen the Allmineral contract so any clauses or compensation options remain unknown to me. Have I read the word compensation in any RNSs? I dont recall it. Eitherway, any compensation is a long way away if Allmineral have a good legal team.
Ignore him. Full of waffle and vague statements. GIT likes to shout (he has already thrown names at you), it is where the weak hide. You cannot reason with someone who believes Wikipedia is a good starting point for research.
K3. You are wholly wrong. The buck does stop with MM. He most certainly signed off the .4p placing. He is the CEO. He is the main man 'funding for two mines, oh no its one' CFO. The money didnt even fund one mine did it? His fault. Dont give me the steel boll#x. That has a part to play but where was the contingency and where is the compensation? Wherever it is, and if, it is a way off me thinks. He is the Fortescue man. He is responsible. Likewise he can roll around in the dollars he will make if WRES comes good. BlackRock....well them is the vultures watching in.
Suthy. 12 months ago it was trolls, 6 months ago it was trolls, 3 weeks ago it was trolls and today...trolls. You do realise how embarrassing your comment is? MM not getting the money needed within 2 months...trolls again. Just look at the chart. Some people love charts. Not me. Part of the tool box, but on the whole voodoo. Trend is your friend they say. A good RNS will start a turn, for those in at this SP I really do hope so.
DB. It could bounce, but without an RNS (positive) what would cause the bounce? The news is out there and the large movement today does sentiment no good at all. Traders? Errr, maybe, maybe not. Spread can be too large on this for the 10% day crew. Well, 24 hours will see this bounce or push very close to the .2's. Will it go into the .2's? Thankfully WRES has Gengs charts. Did Geng just mention the .2's? Why is he not being shouted down like others were that said the .2's could be seen again? Oh yes, doesnt fit the narrative. Enjoy the evening, and maybe WRES wont have to wait until the end of the week for news on funding or alike.
2cv. I have no words.