focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Oh dear, the excrement has bubbled to the surface again, once more polluting the discourse and forming sticky turds. Maybe not so strange that DavidHulme has a sycophant in MadDave - used to call them smegma breathing buddies, but like an immortal cancer line having different names (or new names) for the same entity, they can usually be discerned by the poor grammar and spelling to be the same floater, besides the smell! Apologies to this board, I do know better than to feed the trolls., but as Oscar said, "I can resist everything, but temptation". Please DevonWolf, lighten the day with some more news about the Tungsten price, hopefully at the least it has stabilised. As ever DevonWolf, I owe you quite a few bevvies for providing us all with your insight and news. Good luck to all. WD43
Hi Ya Peaky, As WolfofGL3 ?? mentioned there is chance for the SP to fall further which brings in an excellent opportunity but the price will, I reckon for several months now, be quite volatile after this quiet period. I have this inbuilt greed to further acquire more yet realise that I have more than enough and that I should stay from ploughing in more cash - (which I don't have at the moment). I will prove my idiocy tomorrow by doing the Euro Lottery giving just a very thin chance I could buy out Resource Capital and then see if I could lease one of Monarch's now grounded aircraft !! The debt burden is the real problem requiring APT price to stay at or above current level and for name plate target to be reached by year end - preferably earlier. There is so much that could go wrong but WLFE have done a lot to mitigate the problems with the production process, hopefully we will know the status by the end of this month. There is no way other than a crystal ball to figure out what the Chinese will do once they have finished their crack down on polluting mine operators - they could really screw everything up by lowering price and recapturing market share, similar game play as happened in the photo voltaic/solar cell market. Many operatives in the States and elsewhere went to the wall because of Chinese solar cell subsidised pricing. Despite the negatives, I will hold for a few more years and once sp has risen past my break even point of cost price start a very slow disposal drip feed until 50% has sold off or until/if dividends start paying out. Well, that is the game plan so far but not in concrete. Good luck to all. WD43
As ever DevonWolf, you are a star - ok, may not be the sort of news one likes to hear - but this is the best analysis of the situation and its a "suck it and see" to the end of October - thanks as always Devon Wolf. Trying to discern trend from share movement this last week is another exercise in futility - reading the tea-leaves is best left for the moaners and groaners on here! Thanks Mad Dave also for the link, night time reading for the weekend but an initial scan doesn't highlight anything significant. Good luck to all WD43
Hi RWK, I just can not wrap my head around the gambling mentality of shorting, I gamble with investing in companies that have products or services that interest me as an ageing geek. Its why I did well on Arm Holdings - bought and sold over 8 times, making good profit each time, sadly - sigh, not holding at time of buy out. I really hope this shorter gets well and truly burnt as is quite likely in my estimation. The sad thing is this practice is so detrimental to the average PI because of the instability in the SP, Seems a shorter is a bit akin to the boy who cried wolf - I loved seeing many years ago a cartoon about the crying wolf lad which showed at the finale said boy with an arrow in his neck after p**ss**g off the villagers so much! Sweet! Good luck to all WD43
Hi DevonWolf, Any upbeat (please) to offset this doldrums week? "Desultory", is the word that comes to mind after such initial promise - but we have been here many a time before - sigh! As Peaky mentioned, a little bit of "RahRahRar" PR come drum beating from the BOD/CEO would be extremely welcome for the PI and put a bit of spine (tungsten spherical objects) in the wobbly ones. Quite a long game of patience it seems but here is hoping that October fulfils the promise that WLFE eventually delivers. Good luck to all. WD43
HiYa Peaky, Really good to hear from you and that you are up and running and highly pleased as well you managed to get your trotters back into the trough in time. @ Old Fool, that is a dangerous thought - ascribing intelligence to the negative posters, no way this is possible when nary a working neuron between any of the turds! I think the possibility lies between the two definitions of "an ugly cave-dwelling creature depicted as either a giant or a dwarf" or "a person who sows discord on the Internet by starting quarrels or upsetting people, by posting inflammatory extraneous, or off-topic messages in an online community with the intent of provoking readers into an emotional response or of otherwise disrupting normal, on-topic discussion" (thank you Wikipedia). It's quite hard, but I resist the feeding of the trolls, it causes them to proliferate, breed and further pollute normal intelligent dialogue. Partly off-topic - I think a close eye on Strategic Minerals is moot. The Q4 report on further test drilling will give a better indication of ore quality. Definitely of interest as there was talk in the past of using WLFE's processing considering they are geographically next door to each other. Latest RNS:- http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SML/13354356.html I reckon to drop in there as the price seems a little on the low side considering SML has other funding to support operations - maybe for the brave but I reckon it is an adjunct to WLFE and with higher tungsten pricing will be viable . As ever - DYOR. Good luck to all. WD43
@Bulent74, I am in the same ball park as your self - 6.9p averaged cost - cash invested since 09 at £88.5k but book cost of £145.5k, reinvesting the winnings off a few performers LOL!. Certainly a matter of faith in picking winners, but ditching the turkeys is a damned sight harder to muster the strength to make decision. There were times when WLFE's sp made me wonder as to whether I had suffered a brain fart or not, but now only a few grand astray now from book cost. I really hope that Peaky got back in and filled his boots before the turn around, damn - I miss him off this blog with his acerbic wit, give him a shout please RWK unless he really has devoted a life only to the nags considering he suffered a dreadful burn on selling! This Friday's MB report could really light the fuse and the month's report from Richard Lucas as RWK said will be analysed minutely for further confirmation that the good times are truly here. I read somewhere in the last few days that a dividend would be feasible in about three years time, bugger if I can find it again so can not figure out the reasoning behind the conjecture - any thoughts anyone about the chance of a dividend - eventually of course. Good luck to all WD43
That is a pleasing analysis Devonwolf, warms the cockles of my heart - errrr wallet! Thanks again. I have a substantial holding at 6.9p cost so there is good chance I might not look as stupid as some have suggested, all eggs in one basket etc; etc. I'm still tempted to increase my holding at the current depressed SP but readies are not ready as yet, sod's law intimates I'll be chasing a rising price quite soon. There is always the chance that the Chinese may release or dive into the Fanya Metal Exchange's holding once Fanya's tungsten cost has been exceeded (that's if the tungsten really exists and not another fiddle!!). Another boom and bust as demand outstrips supply - as previously mentioned here, the other tungsten wannabes are no way in the running for at least a couple of years leaving Wolf in a truly advantageous position. Good luck to all. WD43
My thanks to you DevonWolf and also to RWK for the Famous Knight's perspective!! A 10% take is quite attractive but 15% even more so - this should be eminently affordable too with the rising APT price and as you noted the ability of Wolf to re-asses the funding arrangements is brilliant. A tinge of jealousy that I can't achieve any way near that kind of return but then I didn't have 40 odd million to play with in the first place, all Kudos to RCF as without that backing this mine would never have seen the light of day. I do hope that the days of gloom and doom are over with all the other equipment set backs that have hampered achieving any way near name-plate output. And the other good note will be the disappearance of the negative trolls who have infested this chat - I am now awaiting to bask in the glow of rising SP - any views what that can attain in the mine's life?? Good luck to all. WD43
Hi all, if you've not seen the announcement here is the link:- ** unhooked the link ** too damned long to pick up an A4 pdf, it's on the RNS this morning as well. Besides extending the loan facility by £5M for short term capital, all the improvements are reported as on schedule which is good news. The terms of the Bridge Facility under some conditions being switched to a subordinated convertible loan or a subordinated loan and then possibly subsequent conversion into ordinary shares I take as an immense dilution of my holding, then again this will eventually be a choice of what to vote for sometime October. Any of you Wolfers out there with views about this, currently I am in dither mode - I don't begrudge RCF at all making a fair return on their taking risk and providing the funding Bridge, but my neck also was on the block with other retail investors and in the queue as well for a slice of the pie!! WD43
Great walk through Devonwolf - thank you. As you observed, the hassles are being resolved and the material price increase is good even if a bit on the thin side this week. See if the SP moves a tad more positive before month end in conjunction with the material uplift. Yet the stinger in the bum as you mentioned is the level of debt outstanding, will this be amortised out before the end-of-life for the mine?? I think that Peaky's laying out on the nags is a lot less stressful - yet I guessed this was going to be a waiting game needing tungsten balls LOL! WD43
Hi Devonwolf - hope you will be able to notify us all the price change again this Friday - thanks for this - really appreciated as any increase in the SP lightens the day/week considerably. WD43
Thanks ProcessGuy, I appreciate your explanation a great deal. It beggars the question why wasn't this determined a lot earlier in the start up phase? I am assuming (damned optimist) that WLFE have about cleared through the depth of the softer surface ore by now and getting close to the optimum particle size. With the revamped/replaced equipment and the rising price all the positives should be reflected soon in the SP. Just fingers crossed that increased debt doesn't dilute my holding too much. WD43
My hand is up DevonWolf for a meeting, guess Drakelands may be the venue but I'm open to wherever I can use my concession card (no wheels), will require at least a weeks notice to organise travel/accommodation. Would love to be privy to the hard nosed compensation negotiations about the poor performance of the equipment. I did not understand the blame on the surface (soft) material not being compliant with the crusher/shaker/separator as in my naivety believed gravity type separation systems were independent of source material and was a well understood process from all that has been learnt with the "scrabbling" for gold. Will there be any limbo barrier DevonWolf as to who can attend if the meeting is sanctioned?? WD43
Thank you Richam, that is the sort of analysis and detail which has been missing from here. Some indictment on GRES being sold a pup, where the f*** was the due diligence, more likely blinded by "Wow, that is cheap" and having dollar signs in their eyes handed over the readies. From what you have reported I think there is glimmer (your words) of a "silver" lining - goes along with the purported Chinese curse - "May you live in interesting times". The next two quarters will be interesting, I certainly hope that the off take discount/pricing can be re-negotiated soon to give a further uplift else/or/and new take-off partners found which will provide pressure on the current incumbents (vultures?) Fingers crossed that the metal price keeps with the rising trend. WD43
Good to see you back Peaky, you have been missed -especially the acerbic wit we have come to know and love! I have hung on with my holding but have faced that dichotomy of choice, sorry for you mate that you bit that Hobson's bullet, certainly one of life's more difficult decisions to make. As Spok mentioned, things are looking slightly more optimistic after the RNS but it is still early days yet and price has to continue moving upwards. WD43
Took your hint RWK, just pulled 50k at 3.7 - annoying that the London market has stopped showing trades - against the grain to play with small tranches as hate paying commission. For the life of me it just does not make sense the really tiny trades that have been made - more pocket money than investment!! WD43