WRES turn next, you think Blackrock is going to be any kinder if Michael starts missing his interest payments. Where are sales Michael? Turn the beast on! Largest tungsten mine in the universe! What a salesman! See you guys in January when more excuses are thrown around. But don’t forget the real problem here. This super low grade mine was built on the lie of $94 in production costs and that’s the problem because w APT at $210 right now, he’s cash-flow negative, burn baby burn.....
Notice how they don’t announce the death spiral terms until after the AGM when Donahue secured his job for another year. You guys sure he deserved a standing ovation.....18% new loan, 3% fee, 15% on accrued interest on old loan-7% paid in kind(that’s automatic ORM dilution). This is it for ORM shareholders, thanks Mike!
RE: European Tungsten APT price down again.29 Aug 2019 18:31
You must be right the stock is really breaking out, looks like the market is really starting to believe Michael will be cash-flow positive when he opens! Please turn it on please!!!! Can’t wait, it’s gonna be so bad
You are a joke Safety. You have no actual proof of costs because you have no production. When Michael turns this mousetrap on and actually produces tungsten Concentrate you will have a cost of production number. We will see then, until then stop saying you are a low cost producer, it’s not true. Turn it on Mike let’s see who’s correct!
Guys it’s as simple as you all think it’s profitable at this price because Michael said so and I think he was loose with the numbers and can’t make money here and will have an opex burn. So, we’ll know soon enough, turn it on! So exciting, like watching a slow motion car wreck!
Doesn’t matter if it’s Schilite or Wolframite at $150 in a western country w social costs for employees you are in a negative cash position, even if all goes right at ramp up. If he opens now, he’s in a burn. Burn baby burn disco inferno....sweet dreams
I saw this puppet show once at Wolf Minerals when they opened Hemerdon at the same price of tungsten, opex negative from day one until delisting two years later and a loss of $310million. That’s why Michael won’t open the mine now, he’s not stupid, he knows at this price he would have to raise money every month for Opex because of the burn. He’ll slow walk it until after January......If not, you’ll be dead in 6 months. Sweet dreams kids
Ramp up, what are talking about, instead of draining and opening the main pit, they opened two starter pits next to the main pit that don’t have grade. This thing is a colossal mess up and there is no easy fix. They have to drain the main pit and widen it to get down to the bottom which they should have done 4 years ago when Oaktree came in. They now have to do something that will take six months to complete and cost $20m, all while paying workers at the plant, where’s the money for it. See you at the GM
What joke, go to the AGM to cry to Donahue and hear his lies. It’s too late, the ink was cast 4 years ago when you all approved the Oaktree deal, this is just the long drawn out result. A capital call is coming wether you like it or not. The only thing to do is vote against Donahue and the rest of the board for shafting shareholders and call your lawyer!
The W promoters get so excited when I post they start bashing and bashing, really funny. Doesn’t matter W resources stock is gonna fall below .03 very soon as production slips, supply contracts are breached and interest and provincial payments are missed. Oops
You trying to paint W in a good light by comparing it to the problems at ORM isn’t really a good idea. You see ORM shareholders are dead because a capital call is coming from the parent owned by Oaktree. But the mine will be fine Oaktree has deep deep pockets and are the owners. W resouces however doesn’t have deep pockets, has a low grade project, and a very expensive note to New York sharks in Blackrock. That’s why the stock is breaking down and will breach the 52 week low this week.
I’m short. Waiting for Oaktree’s capital call to close out, should be anytime now. WRES is another story, bad project, too low grade, dead man walking, no need to comment there stocks telling the story, new lows every day.
Yup it’s all a joke when you ignore a takeover that would have enriched shareholders to keep your job and sell 70% of the company and all control to bunch of LA hedge fund carnivores that will swallow your other 30% in a cash call before you know what hit you. Laugh it up, stock at a new 52 week low, great
Are you joking, that offering was in stock and would have been the beginning of us becoming the largest tungsten mining company in the free world with 5 mines you goldfish, now we own 30% of one that we don’t control and doesn’t work
Almonty takeover would have doubled most people’s money and put us w a tungsten mining expert with four other mines and a market cap of $150million. Instead we are in a carry position w non tungsten experts in Oaktree and a sure shareholder dilution event coming, good job buddy, well played, if you’re working for the man or Oaktree but a fleecing for shareholders english teacher, I mean, dopey!