Can always be worse. After 6 hour meeting Thursday EU leaders fail to agree debt instrument and task finance ministers to come back in two weeks! Staggering.
Can anyone confirm the last time the bid price was 0.23? Probably needs a Proactive interview to drive it below 0.2. Fully funded state of the art $20M EBITDA. Joke.
Failure of management organisation?
How much additional revenue will this generate at current production levels and how much for the full year forecast ?
Yes and if the so called ramp up continues as is BlackRock may well have pulled the plug by then and refuse the next funding request. Save you a trip.
The truth hurts.
It is difficult for a compulsive liar.
Delighted with six month delay. Speaks volumes.
Far from it. Ramp up extended by 6 months.
The main thing to take from this is that the ramp up has been extended by a further six months (at least) to include the remainder of 2020. Dreadful.
When it is not at a two year low. There is a mismatch between what Masterman tells the market and what the market believes and rightly so.
Interesting to examine statements of progress by the company. On Sept 16 Masterman said first ore to the plant "starting later this month". This was not achieved until 17th October. So as the Chairmain with such a significant holding he was unable to accurately predict a development milestone just two weeks ahead. Little wonder the share price continues to show the lack of confidence deserving of such incompetence.
The steel delays were justification of delays early last year. The broker research notes were published after these problems. It is now 137 days since the RNS confirming construction was complete. The company has not met the targets it provided to the brokers; not even anywhere near.
Why is there no statement, explanation or acknowledgement as to why production in Q4 was only 21.4 tonnes compared to the 350 tonnes for H2 2019 used by brokers in their published research notes?
Really! The razor sharp intellects here never cease to amaze.
Equally flawed. Published in August it assumes imminent ramp up. Actual q4 output a paltry 21.4 tonnes.
Yes and it would have added revenue of $4,280 for the production in the last quarter.
So Shard must have been mistaken when compiling their research note, perhaps this is understandable when relying on information provided by WRES. Why has the plant only achieved 6% of the forecast production during the period?
Yes a poor start is rather generous. The simplistic analysis in the Shard research note of 31/7/19 records the concentrate production expected for 2H 2019 as 350 tonnes. It is therefore somewhat surprising how the faithful regard the 21.4 tonnes achieved in Q4 as a major triumph. Little wonder that the market is taking an equally simplistic view that WRES consistently fails to meet targets, hence the lacklustre share price. There are none so blind as those that cannot see.
I do know that I have far more experience of construction and commissioning of large scale (much larger than this) project and significantly more complex than this. Every time Masterman provides an update there is always a "this would have been great but next time it really will be". Hence the share price. However the group of four or five long term holders who post 10 times+ a day are apparently delighted to have witnessed their investment halve in the past year. This as a result of a substantially delayed development with clearly inadequate contingency plans.