Member Info for oldskool

They can comment because they can. Yes, such comments can appear to be odd at times but they must be taken in a wider context. I have always thought alternative views enhance my own knowledge and experience. None of us are the font of all knowledge, and it is always worth listening to others and their viewpoints even if we do not agree with them. Views change and facts change. As an investor investments need to be reassessed. If the facts change then consider changing your strategy or view point. For every 'troll' there is a ramper. I hang around here as I would reinvest under the right circumstances, which isn't now. This is a seriously high risk investment right now and given the volume I think many of those watching agree. Yes AIM is a gamble, but you can try to manage the odds in your favour. Right now, cash is king and keep eyes out for value. Some spotted that in Metro, once the dust settled. Some bought EUA when the signs were lit up, see the key appointment late summer (M & A specialist). AIM is not for holding.

Soulsister. I have commented on this board for years....ohhh the years. It was a great board and the story was a good one. You will note that the alleged trolls comment regularly and frequently. Then the pipe smokers say 'trolls' when it rises and 'trolls' when it falls. Is that the best you have? Really? What are your thoughts on the 10%+ dilution that is on the cards if MM doesnt sort something else?
Closed period? What reason is there for a closed period?

Kalan. I have stated previously that I will not buy back in until this heads north, and I am not talking about a spike. Averaging up some may say, although my average is zero right now. The risks are too big for me right now. Others have a different strategy and their risk profiles are, as one may expect, different. Each to their own. I look in as I know the share inside out. So any turn around will be observed, and may be bought into. Equally my risk to the downside is zero. Cash burn is a massive issue and cash is required. How much and from where is the biggie.

K3. With 11 days until WRES needs cash can you please enlighten us? What are your thoughts on this troll comment. MM said WRES needs the money, so WRES needs the money. MM normally just drops a placing (after no more placings and it is NOT the Chinese selling their holding), so I am pretty sure WRES needs money and now. The market is holding its breath. So, the raise will be successful at 0.5 or it wont. Again the word intent comes into play. 0.5 will be a buy signal for many. However, the wont is why this is where it is in terms of SP, where will the money come from? That is the risk reward right now. MM will be very busy sorting out funds, for good or bad, that much we do know.

Troajan. You can't beat a race to the bottom mentality. Whataboutism at its finest.

Kalan. I can only use the information presented. I once believed the story. Got lost in the story. Lesson learned. MM is a salesman. He has even convinced people that he was the key that unlocked Fortescue. A top CFO that even with a contingency has ran out of cash on his latest project Please no more on the steel, that delay was dealt with. Compensation? Already given my thoughts on that. This project could come good, but for me the risks are massive and increasing daily. Cash flow issue kills business no matter how many are employed, shiny kit, BOD investment etc. Who would win....BlackRock and Allmineral for sure. I dont like the use of terms honest opinion ,and alike, as it implies answers are often anything but. However, I think WRES is priced as it is. High risk. Investors know this. It will be pulled down quickly on any hint of no funding coming, or further delays, and I think each day the funding does not arrive means a further opportunity to pull this back. MM is a salesman. After meeting investors, the sales pitch wears off and fresh perspectives kick in. Has their been a change of heart? If there is no money in the next two weeks that the market are likely to hammer this. Equally a raise at .5 would be of significant benefit. Althiugh the last one did little, why? I know there is dilution coming, we all do. I know there is a shed load of warrants at 0.6 which will hold this back. I know there is a rapidly diminishing pot of money. The kit and tungsten prices do not matter right now. Keeping the lights on does. Where is the money and that is the risk. These are questions are ask myself and hence I remain out of WRES. Others are all in.

K3. That is all well and good when you have money coming in and aren't burning it at a rate pushing 3/4mill a month. Does WRES have money coming in? MM said money needed within the next 2 months. That deadline is 12 days away. MM does get deadlines wrong so this may work in his favour. If a CEO says, in public, money is needed then the company needs the money. Remember that WRES is fully funded and under budget. Not bad for a mining legend and leading CFO. It is a minimum of 2 million that is required. You don't make a request in public like that lightly. You can be as patient as you like, but patience doesn't pay the bills. Here is one for you. Is the 2 mill (minimum, although I think closer to 3 million) to keep the mine going until MM sees money coming in and at least breaking even, or is it to cover the debt payments due?Maybe both? So the delayed interest payment is due this month, no date given only that it is this month. It is 1.29 million was not paid and rolled up. Add to that 1.29 million the interest now due and undoubtedly a little bonus for Blackrock. Blackrock won't be out of pocket that is for sure. So the interest payments due and the debt to the Spanish bank clears out the grant. I also note that the RNS on 9th Sept states that WRES '...progressing down to formally applying to receive this grant'. Then a week later, cash call RNS. How long will the grant take? I think, and it is Spain, the grant may take longer than expected and MM knows WRES needs the money now...lights on job. Blackrock haven't stumped up, and he would have gone to them first, in the least he would have spoken to them as the primary lender. Spanish bank haven't offered anymore cash that we know of. Where is the intent of the BOD, whats the delay? Why can't they buy without the Spanish money? That word intent, a slippery one hey? Where have the Spanish investor and Equity fund gone? Did the funds clear, or not? Perhaps it will all fall together nicely in the next couple of weeks. That is investing for you. Risk vs reward. This is tight. It does make it exciting I will say that.

Wow, a fun day here again. Thank goodness for long days. More gibberish from GIT. Kalan I think DB has called you out on this comment
'Further placing not needed as cash has been preserved.
SUCCESS'. MM has stated 2 million is needed, it may not be a placing but it is a cash call so one must assume cash has been spent and not preserved. Semantics perhaps. What will be the next RNS? Production or cash call? Or both, a good old sh%t sandwich. What has happened to the 'intent' over the last 10 weeks? Live long.

Troajan. This is where your literacy skills fail you, and your understanding of chronology. I was on holiday when that comment was made over two weeks ago. The other day I clearly stated I was off to work. Unlike you, I have productive and busy days. So unless I am waiting for other people I have little time to comment during the day and I would sooner research investments with said time. Some people use their limited time on earth to comment on BBs all day...others realise time is precious and do something with it. Each to their own.

No it doesnt. It states intent of BOD. Understand the language, it is key with WRES. Read the RNS. Funny how it dropped without any trolls commenting at all. Blimey, that is going to blow the brains out of some. Shocking. Cash call has been noted on the RNS. Wow, time is tight. If a placing comes so will the .2's. Let's see what this week brings.

Moggie. Dont forget that a large chunk of the grant is accounted for, in other words spent. Debt roll up due payment in Nov. Remainder of grant could cover that. If wasnt that long ago holders (me at the time) were thinking this could be used for advancement of the project, now it will just be used to pay down some debt.
Troajan. I have no idea what you are talking about. GIT loving your usual insightful waffle and ramblings.
Debrief over....back to work.

Bluebelly...strange how you didnt ask the same of those posting positive sp numbers. Even stranger when Starter appears to be the only one that has posted a negative SP. Odd that you did that. Very odd.

Troajan...just for you...2.5 weeks until the money runs out (see RNS 16th Sept). Or is that called trolling, oh no, hang on, it is MMs words. Does that mean, by your rather odd logic that MM is a troll? Or is the RNS a misrepresentation? The BOD are taking their time with their intent to buy. Perhaps today there will be some buying RNSs. TR1 's. BOD are definitely enjoying sailing closing g to the wind. Love to all, especially those that are in i3e.

GIT. Best oxymoron I have read in a very long time. Brilliant.

NMH, you are 100% correct. At least 3 sources of cash are mentioned. One or all may be required. So MM said on 16th Sept (see RNS) that WRES needs cash within 2 months. WRES needs minimum of 2 mill. What if the grant is delayed? That is a lot of money (almost 10% of MCAP) Suggests high burn rate to me or a lack of money coming in (production) now or immediate future. He may want the raise for Regua, but he is specifically talking about LP. MM mentions intent, lovely. Best intentions hey. So WRES is running out of free cash, the 2 months ends in 3 weeks. There is also the impending debt bundle. Will BlackRock roll it up again? It is going to be an interesting few weeks for WRES and its finances. To steal another's phrase...tick tock tick tock. Remember, I am just a troll.

In relation to your earlier post....

Let us just dig a bit here. You say ‘They haven't delivered and the financial penalties will be building up’. Where is the evidence for that? If there is compensation (no guarantees), then when would it be paid? Months or even years? I will stick my neck out and say that any compensation will be delayed for as long as possible. That would be good business for Allmineral. The fair outcome would indeed be compensation either through money in the bank or significant cost savings on future plant purchases or alike. I’d take the money.

‘BlackRock are supporting wres as has been seen in their recent interest capitalisation’. You have no idea on what terms this was concluded. Nor do I. I am confident that Blackrock will be making some handy pocket money out of it. They are not the Bill and Melinda Gates Foundation. I would add to this, why haven’t Blackrock allowed MM to borrow more? Is it because he already borrowed more than required in the first place but still needs more? Remember he stated the money was for two mines, but then it became one. Good CFO’ing? How can you square comments of ‘fully funded and under budget’ with further cash calls? What have I missed? I know I don’t smoke MM’s Peace Pipe and there is clearly some strong stuff in it

‘They will want to see this through as much as us’. Why?

Regua is certainly not being funded by La Parilla cash flow is it? MM said it would be. So, further delay and again how will this be progressed? More cash calls? I don’t know but it needs money and needs money WRES does not have right now. Perhaps further equity raises could be used (see RNS re raising money).

You also mentioned 2 mill placing in your Q4 list. It is likely to be considerably more than 2 mill, that much is clear in the RNS.

GIT. You talk of clever people. I have no idea who is clever and who isn’t. I not really sure what you mean by the use of the word clever. Intelligent, or clever as in Fagin? I have a pretty good idea of those that are not. Otters and Wikipedia. Too many commentators under water, paralysed, wishing and filtering (safe space for confirmation bias purposes only). Geez, I think some commentators have never read a book about investing. Let alone started with a dummy account.

That stopped clock looks like it is getting closer to one of its accurate predictions.

Sorry Troajan, Langtro and GIT, I am trolling, rather than asking reasonable questions (to myself) before reinvesting any money. Here or anywhere for that matter. Research anyone? Regularly review investments? Be prepared to walk away? Protect capital. Sell and buy back lower or risk missing out? All good options. Equally, safe spaces work well, and are frequently mentioned by the wealthy and successful in books, blogs, PR, lectures, twitter etc etc. Oh hang on....

P.S Get ready for some commentators to get out on the next spike.

hasn't been right. No has been.

Cookie. No. I like reading all comments on the whole, even those that offer little value...just like WRES for the last 12 months. Now when is MM bringing in that next dilution/equity raise, he is rapidly running out of time as he clearly states in the RNS money is needed within the next 2 months (dated 16th September). It is October 25th tomorrow. How is that fact nestling in? No more placings, fully funded, under budget and all from the main man. That CFO giant hey. Anyway, that stopped clock has been right for a while so chances (statistically) are improving. Cookie, will you be trading this just like Troajan...when the next spike comes?

Troajan. Play the ball not the man. You get it wrong far too often. Challenge the points, provide evidence to the contrary. Develop an argument. Be clear. Do not use straw man arguments, you will look daft. You do the latter a lot. Like I say, use you retirement to do something productive for the benefit of society, rather than spend all day on bb's. It is a sad. If I were to play your game your way I would attack individuals first. GIT does the same.Never done it on here. I will defend myself, but cant recall every throwing the first stone. It is for those with no other options, constrained by their own mind. However, as you like to call names. I will suggest you take your retirement time and invest in supporting the local library....everyone wins. I will now post a reply to Mogwhy's earlier post and a good observation by Safety re negative posts. Others then counter that...but it needs to be factual or as near as can be. Not myths, legends and promisary notes. Filtering contrary views harms the positive posters more than the negative ones. Bias, bias, bias. I filtee those who are just rude or daft, but reinstate them when needed as when the facts change....

Safety, I live opposite a church. I see the misery or the past, present and future every day. I wouldn't mind but the blo%dy CofE (one of the wealthiest organisations in the UK) can ask me to contribute to repairs if needed. Some duff covenant that is. Thankfully there is light as the oldies (more likely to be religiously inclined) drop off their mortal coil...the 'nones' are growing rapidly (globably too).

Things going around, is that not more of a philosophical nature than perhaps a more dogmatic religious one ? Buddhist vibe to it me thinks? I know very little about religions outside the Abrahamic ones.