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It's certainly created a fantastic buying opportunity at such a low price. I think it will quickly recover as the cash will strengthen the company and there is lots of newsflow due which is likely to be very positive.

Good to see loan notes rolled over but souns like we could be waiting months for the Iran contract to be resolved

I just found another cost that I didn't include in my calculations: "The metal is then sold to the refinery at 93-95% of London Metal Exchange prices" so you need to duct 5-7% from my figure of $1.5m per annum. So we're looking at around $1.4m net to EUA from West Kytlim less associated on site costs of EUA staff etc.

If you assume they produce 1.8kg of raw platinum per day at a purity of 70% with a mining season of 6 months and with 2.75% refining costs you are looking at around $1.5 million per annum net to EUA at current platinum prices.

Also to calculate a revenue figure you need to know the purity of the raw platinum which consists of 'platinum bearing nuggets'. A previous RNS said that the raw platinum product delivered to the refinery would contain at least 60% pure platinum.

No, EUA own 68% of West Kytlim. Also there are refining costs to deduct

I'm not sure whether this has been asked before but can anyone confirm whether WSG are paid in USD for the operations in Sierra Leone? WSG could have problems getting paid in USD if the Iran contract goes ahead whilst there are US sanctions against the country. I note the recent technology contract is based in USD so I was wondering how feasible it would be to change the payment currency for all existing contracts denominated in USD.

The meeting was very positive. We now have seasoned professionals driving the company. Neil O'Brien said GEO's licence in Georgia was the best opportunity he's ever come across and he's been involved in the mining industry nearly 40 years. I don't have time to write much more at the moment but I was very reassured by what was discussed.

Falanx Cyber seems to be gaining an impressive list of clients. Here's a list of organisations from recent contract wins: A Global 50 Financial Services organisation A premier UK Health Sector organisation An award-winning UK Top 20 International law firm A major UK Government department/organisation within the Ministry of Justice Also currently negotiating contracts with several highly advanced MidGARD sales opportunities within sensitive elements of the UK Government and the commercial sector for the protection sensitive data Don't underestimate the amount of time and effort it must take to win contracts with large organisations. It's still relatively early days as Midgard was only launched in September. I think we'll now see increasing momentum and contract wins, particularly after the First Base acquisition.

ragnarlothbrok- agree with your post yesterday. Once the wider market wakes up to this company there will be a very substantial re-rate as the p/e ratio becomes comparable with industry peers.

Nice RNS and plenty more to come. Sit back and enjoy the ride!

I'm getting so many GDPR notifications at the moment. It's got to be very bullish for FLX. It should make companies far more willing to increase their spend on cyber security

The upfront payment for the tech contract will be used to pay for the equipment so we can't rely on that being used to pay off the loan notes. If we're lucky the loan notes will be rolled over somehow, but if the institutions don't want to do that then alternative finance will have to be procured.

I think one of the main concers is how WSG are going to finance themselves going forward with the �2million loan notes due to be repaid next month. Hopefully we'll get an update on this when the results are released. However, if it isn't mentioned I think that would be very worrying.

I think that the contract may have been temporarily put on hold due to institutions currently being unwilling to advance finance to WSG whilst Iran is under US sanctions. Once the sanctions situation is resolved hopefully WSG will be able to raise the necessary finance and proceed with the contract.

Some sellers had their pants pulled down by the MMs. There's clearly lots of traders trying to get a cheap entry at the moment.

can't buy at the moment

Traders are going to love this. MMs will drop it hard early and then traders will pile in and we should see a recovery later

I'm certainly holding and may add to my position today. Iran is a large country with many airports so this is an enormous opportunity for WSG. The first contract, now signed, is likely just the starting point. As far as I'm aware WSG don't have a contract in the USA so it will be free to operate in Iran with the backing of the UK/EU.

Such a 'knowledegable/researched' poster LOL - sounds like you've got your head stuck up your own a*se