Member Info for Shedulike

Does that swing from 17 to 20.75 suggest there are rumours afoot, or just aggressive profit-taking in the current environment? Now red again....

Certainly a peculiar hobby Trombone - makes trainspotting look glamorous.

Quite Teaye - that's what I'm doing. Try and stay positive and ignore the trolls. This global health crisis will continue to be fertile ground for folks who get their kicks in that way. Judging by the green boxes we have company today.

Gizz - yep the virus will continue to create a lot of uncertainty for now but the good news is that the technical work can continue unabated and we have to concentrate on the things we can control. Imagine if it had engulfed Spain during the drills, we'd have been caught high and dry with no core to continue the metallurgy, so we've been fortunate in a way. Before the end of the month we should know once and for all that we have an economic mine without problematic levels of deleterious elements. Then the great unknown is how the markets react as Europe recovers from the virus, that I don't know but there are already unprecedented fiscal stimulus' proposed and I'm expecting a massive amount of direct government investment in all sectors.

Brikz I hope you're right. As I'm self-employed I can't risk any more cash in stocks unfortunately. The government are unlikely to support this sector as they cynically know that one way or another we'll still be here when the crisis is over. They are forced to support bigger businesses because if they collapse the economy wouldn't have the structual means to recover - the self employed are being abandoned to fend for themselves. Pretty brutal stuff going on.

Cahus I don't know - unprecedented times. We just have to hope this is a short sharp shock to the economy and they get the stimulation strategy right this time. I'm also watching the Exec's actions very closely as we need evidence that they are going to act in shareholders interests swiftly. As shareholders we need costs to go to a minimum immediately and that means Exec salaries cut to the bone to put us in the strongest position to ride this out. I wouldn't be against a package in which the lost remuneration is repaid in a future success case. If their interests diverge from ours in this crisis I'll be very, very worried, I'm giving them the benefit of the doubt to the right thing for now.

Probably lower if I'm being brutally honest Cahus. I guess we'll drift until hopefully the mets give us some stability. At that point we should be technically de-risked as a potential mining operation in normal circumstances. If they can then provide reassurance that we can operate on minimum costs until the crisis abates then we may see the recovery begin. I think as new daily cases start to drop the psychology changes. Looking at the far East I'm tentatively optimistic that we may be nearing that point in Europe, this week will be very interesting. I'm also hopeful that governments will have learnt from the last financial crisis and this time the fiscal stimulus will be by direct investment measures, not disappearing into the banks inflating equity markets with no real growth. Meanwhile EUZ need to look after the Spanish staff and the big Exec wages have to go - rápido!

Miln I didn't see the update / not, as a comp but an inevitable requirement so not claiming any kind of victory. I have heard elsewhere that because the Regulated News Service is part of the Stock Exchange that our listing fees include the annual fee for the service and there's only a nominal charge per RNS. Sound plausible but only what I've picked up on the grapevine so I admit I'm not 100% on that, shouldn't be hard to find out but I'm not really interested at the moment.

Glad that they've clarified the position, as we hoped metallurgy can continue as normal. We can look forward to the second phase mets now. If as expected they confirm that we have a cracking project on hands then everything has to be done to ensure the company survives until the world gets on its feet again. That means wage cuts guys and not as the last resort as normally happens, now.

At last.

Fair enough Milnrow I take your point but I do think it would make sense to update investors on the company's position during the biggest post-war challenge the world has faced. Lundin and Glencore have I notice and while their circumstances are very different to us (massive companies with huge production, workforce etc) there are still questions that need to be addressed, and not I believe as a footnote in the mets RNS. Specifically the things I want to know are.
- Has the 3rd phase sample been received by WA despite the Spanish lockdown?
- Has the metallurgy commenced and are WA currently able to operate normally as things stand?
- Can the hydrological monitoring continue unaffected, and can the borehole be drilled in a safe work environment for the drilling team?
- Should the pandemic mean that a conclusion to the project is not possible in Q2 what contingency planning is taking place to extend funding beyond this point?
As I said earlier in the week if these matters had been addressed along with the mets much sooner I wouldn't have had a gripe but Spain has been in lockdown for a week now and we haven't been updated. Sorry but I don't think that's great.

Good luck with those Cahus - big discount to DB!

Why on earth do you think so many other companies are providing Coronavirus updates by RNS? Given the state of affairs in Spain I am convinced that an RNS'd update is entirely appropriate. Actually I did email LR earlier on Monday and he just said 'Just wait for the met update' which I felt was inadequate and didn't even address my question which is why I contacted WA direct who were happy to let me know that metallurgy was proceeding as normal. They should make a statement.

Oops 'mets' not 'assay's' (Re. 10:54 post). Yes no point issuing an RNS over a little matter like Coronavirus. Bobby in your determination to counter everything that is said on here you often just get it so wrong.

Funny thing is, on the 11th March the assay results were 'imminent'. I suppose it's going to be a long and complex RNS to be fair and maybe in all the chaos it's taking longer to get WA and Nomad approval.

Maybe Brikz, you'd think it would be a routine duty of a publicly listed company. I said earlier in the week that if they were hard at work getting the mets out then it might be forgivable but so far obviously not.

Seems not - the boards are awash with Coronavirus company updates. Our lot seem to be asleep at the wheel.

No you’re right Gar perhaps as risk free as is possible would have put it better. I 100% believe we need a statement from the Execs though, Blue Chip bargains will start turning investors heads.

Meant to say.... as far as I can tell..... it's more de-risking - developing the process flowsheet and lifting the economics further. I wonder if there's been feedback after the mega sample that broke the laboratory where we've been asked to demonstrate what the % chances are of finding more of those grades and how much?

Found a bit more on this and generally speaking spatial representivity seems to be about eliminating the possibility that metallurgical samples could be unrepresentative of the resource. Obviously our cores represent a fraction of the resource to be mined (even though Toral has been thoroughly pin-cushioned!!) and a buyer will want to know that our findings are 100% proof that the mine won't underperform. So it's more de-risking - developing the process flowsheet and lifting the economics further.