Member Info for Seawolf

Franny , obviously we haven’t got any working capital, and are already skint! But this is out of the blue again, no notice or even a hint of this requirement. What about the Tungsten we have produced and sold, it should at least provide the much needed working capital, without the need for extortionate Blackrock finance.

It’s just debt for no specific purpose, general working capital! It wouldn’t be so bad if it was spending to enhance the returns, but no, it’s MM blah blah blah!

Will squeeze the living daylights out of this and MM is losing control. Loan/ debts of around 50M is too much, what happened to the financial stewardship and tight budget controls. MM you have lost the plot, more dilution at significant cost, there were better options, even going to the market for a fund raise would have been cheaper, albeit still a bitter pill.
Get a grip man and sort this out. Just because you are the largest shareholder, it doesn’t stop the potential for removal from you office!

Good news indeed!

Dreamy, fully agree! a statement from MM t o say that the jig and mill are fixed would do a lot more for a SP that is on its knees!

When Q3 and eventually Q4 results are announced!

It would seem that Solo have a buyer for their share, pending conclusion of the farmout, or that’s what it implies. It’s likely to be ARA imho. Then what? I think that they are still after the lot, let them have it for a fair price, just get it done!

We have already had an extension to the extension which was originally an extended version of the previous extension to that extension.
Are we ready for the next extension? it sure looks like it's coming!!!!!!!
How can this possibly be right, in any sense of the meaning. This is not the way to do business, wake up Tanzania FFS!

The only prod Sierra need is a cattle one, places somewhere sensitive!
They are such a joke, I would love to know what TM meant about letting this play out.

It will come, just be patient. All PPC have to do is keep producing the goods and taking the money, everything else will fall into place!
The market will wake up when they realise that this is a profitable, well run company. At the moment they just see past performance as an indicator, who can blame them when the past looked so grim.

PL and team are doing exactly what they said they would do, and all going to plan. A successful drill should see a further increase in share price, long overdue IMHO. All these workovers and repairs should see a considerable increase in production, all good i think.

AA, we can argue the toss for compensation after it is fixed, I’m not fixed on that particular issue!

OMR, I thought Metso did the crusher which appears to be working well, according to MM. Bottom line is, it needs fixing and quickly!

According to the RNS on 20/04/17 the jig and mill are twinned with a feed capacity of 350 the, it would be good to know if both circuits are affected, one running and the other standby, or both running (or not!). Either way I don’t really understand how a world leading company like Allmineral got this so wrong, they have been supplying similar kit all over the world and the Germans are generally good at engineering.

Joey, it’s no use whinging, you will have to wait until this time next year to get a return on your investment, or jump ship with a loss.
All of these are your choice, you chose to invest in WRES because you believed in the prospect of profitability, sometimes it takes a while. Many LTH’s are underwater and not particularly happy but this year has been unlike anything I have experienced in my lifetime.

Let’s sort our onshore program for domestic and commercial use first, we are not interested in LNG, the big boys can play alone.
Why this is still going on baffles me, we could have been producing gas for the country many months ago!
Clearly there is no will and foresight to benefit the people of Tanzania, that’s this governments legacy.

BC, yes I heard that but it doesn’t answer the question and suggests that they are both standing their ground, arguing their points!

Not fit for purpose? Did we get what we asked for in terms of specification, or did we get something else?
This point is crucial in terms of who pays to fix it!
I will forward this to Justine, hoping to get some kind of answer.

Useful and a good platform for the future, Jig and Mill/Spirals seem to be the stumbling blocks in terms of plant operation and reliability.
Low grade rock was processed from southern area which in my mind brought about the poor Q2 results but I think that it also highlighted plant problems too, and they have learnt some lessons as a result of that. I think it's going to be 12 months until we see profitability but you never know, if they get the plant sorted!!!!!

Let’s not forget it’s the greedy corrupt government that is causing the delays!