Member Info for richam

and the broken record is out in force phantasizing about "positives". As ridiculous as it gets. Name ONE other stock that is down -80% while its product is up 66% in price.

https://ibb.co/2ZRm445t

the shareholders of the Company providing such approvals
("Shareholder Approvals") as may be required pursuant to the Act
and/or the ASX Listing Rules for:

1.. a consolidation of the existing securities of the Company on
a 1 for 250 basis (which will result in the Company having
4,363,521 fully paid ordinary shares ("Shares") on issue
immediately post-consolidation and prior to the further
transactions referred to below) (to be conducted immediately
following Implementation) ("Consolidation");

2. an issue of up to 80,000,000 Shares at an issue price of
$0.01 per Share to the Proponent and/or its nominees,
together with five free attaching options for each Share
issued (on a post-Consolidation basis) exercisable at $0.01
on or before the date which is four years post their issue (to
be conducted immediately following Implementation)
("Proponent Issue"); and

3. an issue of up to 80,000,000 Shares at an issue price of
$0.01 per Share (on a post-Consolidation basis) to
sophisticated or professional investors identified or
introduced by the Proponent (to be conducted within three
months of the shareholder approval);

Whoever it might be, whatever he might pay: 100% of the sum will go towards creditors and nothing will be distributed to shareholders. The purchase price will be WAYYY below outstanding debt. Over the course of 3 years one thing has been established: This mine's output is WAYYY below specs thus cannot be run profitably. Neither at APT 200, 300, nor 400. Who on earth is supposed to bid big money for a dog like this?

how all rampers and self-proclaimed "experts" disappeared in the blink of an eye.

No more bragging they "knew much more than you do". No swaggering about a 30-50 years perspective, no bashing of our efforts by alleging US import data didn't mean a thing. No more pipe dreams how "it was always the 3rd quarter" that was going to be profitable for Wolf.

I'm not going to miss it.

So I kept watching and the disaster evolved exactly as I had feared. Please tell us, Mr. "I guarantee you I know a lot more than you do", what exactly did you know, eh?

Ophidian: "@richam - I'm not going to debate/argue with you. Neither am I going to share 95% of what I know, but I guarantee you I know a lot more than you do..."

Richam: "Keep watching" is what shareholders are doing for years already. It's always the next few months that are supposted to bring a breakthrough but it never happened. The consequence is we're losing money all the time. Almost 3 years after handover the plant's output is barely 50% of what it is supposed to be and Wolf keep amassing losses. The debt load is TWICE of what it is supposed to be already. Not much of a breakthrough from my point of view! From Wolf's latest press release it is very clear: TIME IS RUNNING OUT! There won't be a 4th year to mess around with the plant. Once the debt is being "restructured" shareholders are likely to be ousted and their losses to be made permanent."

No, my Dear. The hindsight is for you. I had the foresight and told you all along given actual production rates this project was unsustainable. You didn't listen and elected to insult everybody who didn't buy your fairy tales. Now your money is lost. Well deserved IMO.

Bulent74: "RL spoke to me on the phone a year ago and told me that everything was going well. These people are the scum of the earth"

At that time you've been told that you MUST NOT take at face value what RL had said. In response to it, you labeld the people who warned you scum of the earth. LOL

Bulent wrote: "Does this mean that the company will go into liquidation? Tell us please ???"

You got the answer today.

A couple months ago I asked you this: Is the CEO going to cover your losses?

Didn't he tell you the company was going to be profitable in Q2, Q3 at the latest? What does he say now?

Lessons learned (or, probably not):

1. Hope is not a strategy!
2. It doesn't pay to ignore the facts.

"However, should the Company not be able to satisfactorily conclude its discussions with those stakeholders within the next two days, it will not be in a position to meet its short term working capital requirements after that point in time."

TWO DAYS! Fresh money quick or it's gonna be all over now, Baby Blue!

...and the next miserable one-container shipment (19,390kg) has arrived. Check OOLU4030293930

How are revenues going to increase when less product is shipped and its price is declining?

"6p+ bound imo, true value is due here ."

one month later:

bid = 1.6p

Trading in Oz is paused pending "a further announcement".

I believe retail shareholders will see their share of the company diminished. There are at least two existing tranches of convertible debt with conversion prices much higher than today's share price. The small print provides for an adjustment of the conversion price should additional convertible debt be issued. This would further accelerate existing sharholders' dilution. Wolf simply doesn't have anything to offer other than increased ownership. And that would happen at our expense.

I did. And the result isn't comforting. I am pretty confident debt holders are not going to wait 30 years before they want their money back. And I also believe they do not plan to pay for Wolf's losses for another 30 years.

With regard to "money back":

1) I said "at some point", didn't I?
2) Business is about making money, isn't it?
3) If the leders didn't want their money back, why did they sign a deal with Wolf that does define things like interest payments and a maturity date?

The tungsten is not going to go away and it will continue to be required, that's right. However, that doesn't help much as long as Wolf continues to be unable to extract and sell it for a profit. You continue to have an industry perspective whereas I continue to have the shareholder perspective. That's why Hemerdon can become a "success" from your perspective and at the same time be a debacle for shareholders (my perspective).

Devon, what options are there? At some point the debt holders want their money back, don't they? They already agreed to defer payback (at least twice) in order to provide Wolf with more time to get production off the ground. Given recent production numbes, has this been successful? What are the Wolf guys going to say during the next round of discussions? "Keep watching"???

Sorry, "your fitst 19 is a 33" (not a 31). 33.452kg to be exact.

Devon, take this as a starting point:

https://www.usaimportdata.com/usa-import-importer-global_tungsten-exporter-wolf_minerals.aspx

Your first 19 is indeed a 31 (OOLU4030274000) , your 69 is a 60 (OOLU4030277090) and where you have two consecutive 19s there is just one. Put these BoL numbers here: https://www.track-trace.com/bol and you'll see.

Usually 16 days pass between departure in Southampton and arrival in New York. You can find the exact dates in the BoL. I keep track of all these data points so I know the amount of concentrate that has been delivered to GTP during any quarter. When Wolf reports the amount of concentrate that has been produced, you simply deduct the GTP number and get the rest that has been shipped to WBH. Depending on timing of deliveries there is a neglibile difference between production and shipping.

With "revenues" I mean revenues on an apple-to-apple basis, i.e. adjusted for the concentrate that was "given away" or "missing" during Q2.