Member Info for Vanillathunder

The director appointed by Orion resigned, because it would be a conflict of interest in the debt restructuring negotiations. Which for all we know are still going on.

People were expecting a more comprehensive restructuring with a longer maturity date. This RNS is just a three month holding position. RNS seems to make it clear that Orion will continue to back, but only provided they have even more transparency/control over the cash position and operations. Which is fair enough. It remains to be seen what effect the increased number of Leach pads has on op ex and how revenues improve once the copper hedges expire shortly.

Importantly states "no further hedges of copper or currency.". Given that previous hedges of copper production were at below current spot, this re confirms that future copper sales will benefit from rising copper prices, which should help significantly with cash generation. Should also say that if Orion thought there was no chance of getting their money back, they would have pulled plug way before now.

Agree with this. Seems like Orion don't want to agree to anything that reduces the maturity end date. But given they are a shareholder and supported so far, are likely to kick the can down the road if need be, but whilst making it still clear that they want maximum cash possible repaid as soon as possible. Which is fair enough.

Accepted TDT. No hard feelings. Onwards and upwards, let's hope the next RNS makes favourable reading!

TDT, sorry, my use of term "Nonsensical" wasn't meant to imply that only I had sense. I just meant that to me it wouldn't make sense for Orion to pull rug right now given asset purchases, I meant that action would make no sense, that's all. No insult intended. I certainly agree with you that when it comes to it, Orion will put Orion first and they will only continue to support to the point where it remains in their interests to do so. No doubting that. Let's hope they think it remains in their interests for the foreseeable. I hope in years to come that we see Berg Aukus, Kitumba and Tchuli (sorry for spelling) all producing in a climate of strong commodity prices. Orion paid off and profits and cash building (that's the dream! - long term). But we're a way from that point right now.

PadayachiS, re. debt renegotiation, a good result would have the debt restructured over a much longer term. But tbf only Orion know what they are willing to accept.

TDT... Dry your eyes? Wind my neck in? Nice opening, not really necessary. Most of what you are saying makes sense. I guess we'll see in time. I agree that Orion possibly backed two new asset purchases as a hedge should current water ingress shorten current LOM. All I'm saying is that right now, would not make any sense for Orion to walk. They want their money back plus interest. As to what happens once current debt negotiations are concluded, we'll just have to wait and see. As you suggest much may depend on copper price, and if Berg Aukus gets to production zinc and lead prices.

OK. On what planet would a debt provider green light further asset purchases if they didn't intend on backing the company? Nonsensical. They would be risking default on an even greater amount of cash, they simply wouldn't do it. The market likes more certainty, and as we do not have that until the debt negotiations are concluded it was obvious this sp drift would happen. I don't care for market jitters. You have to ask yourself on the balance of probability what the outcome will be, I would be amazed if its anything but favourable/acceptable. But I'm not stupid enough to think its a done deal, nothing is certain. No risk no reward, depends on your appetite. GLA DYOR

As I understand it Orion have supported Weatherly in the acquisition of an additional copper asset (kitumba) and the Berg Aukas Zinc /lead asset. Why, if they were not totally on board would they be willing to sanction these deals? Simply, they wouldn't. Orion are fully supportive, after all they want Weatherly to be able to repay them, pulling the rug or imposing new draconian terms do not achieve this goal. I am very optimistic of a sensible renegotiation over the debt repayment schedule with Orion and expect we will hear soon. IMO that is all that is holding this share back, that and the size of the the debt. But if restructuring of the debt is reasonable , in a climate of rising commodity prices over the next ten years, Orion should feel comfortable that their debt will be repaid in time. Especially once the new assets move towards PEA, BFS and ultimately production. Water ingress with current mine is being managed in the meantime, as production continues at or close to nameplate. The additional Leach pads and study being done will help assess the future LOM for the current active mine. (even if we have to wait a while to find out).

It doesn't matter how objective the article on SP website is. It's not appropriate to suggest company is drowning in sea of debt until outcome of restructuring with Orion is known. Also it is an unknown how cash generative /beneficial the newly acquired assets are yet. Surely if there was an issue Orion would not have green lighted these asset purchases. For me the SP article is premature, especially in its title.

Thechukkers. Alright mate yeah, completely f**ked you say. Do me a favour. The time line has changed due to Govt incompetence. Thats it. Fundamentals unchanged. Reserves about to be increased. Viable alternatives to sell gas are available.

So basically, the Bots government rejected submission, based on failure to meet all criteria. Criteria, that is relevant to NON - CBM power plants (as Bots gov have no experience of CBM). Not only that, but criteria that is only relevant to currently producing plants (which is impossible). So it was always a non starter based on these facts, I. E impossible to comply fully. After discussions and a letter from TLOU responding, given that Bots Gov are still v keen in CBM, and have a power deficit, I see no reason why this won't be resolved in time. I certainly have the patience and belief in this BOD to see this through.

Re boo honeststu, I didn't bring it up tbf. I know which board this is thanks.

Maybe. But ASOS had revenues from the off. I could be wrong who knows. Just looks toppy to me. Good luck. I honestly hope it keeps going.

Boo will get to 300 mate don't you worry about that. Patience is all that's required. You shouldn't feel that you need to look at my posting history to discredit me. I'll say what I want when I want regardless. Good luck.

Wow, you didn't need to post it twice mate (or call me a moron) . Sorry if I upset you. I guess what I'm doing could be called deramping, but really more a sense check. Not short, as not so stupid as to swim against the tide. You illustrated my point, they're building a manufacturing centre (probably). How long will that take, what is the margin on graphene sales? All unknowns, a few of many. But hey what do I know. Keep buying by all means. Current mc is insanity. Hopefully not too many will get burned on the way back to reality. You won't hear from me again, good luck. I'll just be watching with interest.

Will get shot down by people having a free money party here. But. Hasn't this gone a bit far based purely on potential? Yes Graphene is an amazing material, fantastic in fact. What was the revenue? Where is the profit? These are not guaranteed, you don't know who will buy this stuff, you don't know what the gross margin is. You just hope its good yes? (I'm guessing the response is China.?) I hope sincerely that a lot of people have made a great return on this, but the valuation?! You can not be serious. Honesty, you just can't. Good luck to those hoping it continues. And no I'm not shorting this, it just stands out as a crazy valuation.

Everyone finished soiling themselves? Why sell this? Unless there is inside information going like wildfire, in which case I'm screwed. Otherwise, as you were. Onwards and upwards. Hopefully this is just down to the usual AIM volitility, and panic selling. Sell on the AGM? What? I'll be leaving mine running thanks and will look forward to checking back in 6 months.

Due this week. Unlikely to be quiet much longer. Tiny free float too... Interesting..