KALAN
09 Oct 2017
Re: Downwards momentum? Just being ultra cautious Elviron - will pay a couple of p more to get em back but be sure it won't go all the way back to where I bought them. Profit banked and looking for re-entry on proven support or on further drop - holding for the financing thereafter.
Elviron1
09 Oct 2017
Re: Downwards momentum? Interesting choice there Kalan - so you sold out in the end.It is quite possible that 0.36p will be the bottom - I don't see other indicators pointing to further downward movement. Like I stated in a previous post, the momentum indicators are bottoming out now. For me, this has to be close to the bottom, both from a technical and fundamental point of view. The share price is heading down to silly mcap valuations if any lower - we are significantly more progressed than we were a few months ago.Still, I understand wanting to protect profits and nothing is certain.
KALAN
09 Oct 2017
Re: Downwards momentum? Can see both cases - up case is on the assumption that 200 day MA will hold (50 day is struggling) - down case is that other indicators suggest that 200 day won't hold. Taken profits but watching closer and will get back in as soon as the direction is clear - I have a cautious approach and don't want to sit here watching my profits disappear. Sort term MM has soured the sentiment - medium term the excellent position of the company through the fortuitous rise in Tungsten price will win through. 0.47p should be smashed on the finance news but MM doesn't tend to rush things by all accounts.
Nice to Michu
09 Oct 2017
Re: Downwards momentum? my b/e is .36p and so I'll buy a small amount more anywhere under that .. under .35p would be ideal.. but it may not get there of course.. i pay little meaningful attention to this s/p though.. as i see it as a buy and hold for the medium term... and I see the current fall as noise.. and part of the usual journey for such creatures....
GENG
09 Oct 2017
Re: Downwards momentum? Hi Penhome,My two penny's worth - SP will bottom out around 0.36 (fib support + bottom of rising trend + 200SMA support) Then a strong bounce past the now 0.45 falling trend line.
Elviron1
09 Oct 2017
Shift to upwards momentum? Penholme, I don't know what parameters you are using there, but on the standard set, the 14 day RSI is close to bottoming out if not already done so, the MACD the same and the 14 day stochs look to bottom out in the next couple of days as well.Add that to the support from the 200 and 50 day MAs and there's a decent investment case from the chart alone.
Elviron1
09 Oct 2017
Re: £100k investment by CEO I'm very much of the same mind as Kalan.I was unsure of the share price direction at 0.42/43p and if I had known there might be a placing on the cards I may well have sold and been able to buy significantly more following the placing.That said, an excellent summary Hub, and I will be staying put (I even added another £5k on Thursday at 0.382), as I think we are approaching the final hurdles now.
penhome
08 Oct 2017
Downwards momentum? KalanSorry, but my reading of the chart is that this is looking a bit bearishDownwards momentum is still in play[link]
KALAN
07 Oct 2017
Re: £100k investment by CEO Good summary Hub - I think the point about losing money is valid though. My position at 42p/43p was a bit undecided as the chart showed a possible further lift or pullback - penhomes post made me decide to wait a little. Then MM's interview persuaded me to buy as the only negative I could see short term was a placing - he led us to believe that wasn't going to happen so I bought. The placing has dropped the sp to.38p or about 10% - I could have got 10% more shares if he hadn't misled us. If this turns out to be a 10 bagger then that has cost me 100% of what I paid. I think that matters.Having said that I think I will be holding what I have and possibly some more by Christmas - depending on when JLP reaches my target.
Hub
06 Oct 2017
Re: £100k investment by CEO Looking at the company updates and reports I think management have been pretty clear that their preference for funding the project is via Debt / Funding package. $30m required.No equity dilution or placing will be required in this Funding package. That's a huge relief to investors as $30m equity raise is clearly not ideal when you have a market cap of £20m.The recent £1m capital raise was 'directly' nothing to do with the $30m funding package. It was mostly for G&A purposes.Finance companies often stipulate terms and conditions to the money they are lending. As such the term sheet (draft) may well highlight the fact that the company is required to fund the G&A from own sources and not via the funding package.In terms of your comment regarding shareholders losing money? Do you mean highly leveraged day traders taking a punt on a 2p spread bet or investors that are in for the next 12 to 18 month project build?It's not a case of being misled. It's a case of not understanding the company's position.The RNS was positive. The company informed shareholders that they were seeking signatures for firm contracts for 80% production. That's massively derisking the project in terms of sales channels. Any financier will see confirmation of sales contracts as a huge stamp of approval. Hence why the funding should follow shortly after.As a small miner, the climate is not great out there for funding. You have to make your case as compelling and derisked as possible or you have zero chance of getting the funds on decent terms.Mr Masterman is no novice and has strong ties. He's experienced. He knows how to get his 'slice' ahead of any big moves. He's already got over 20%+. Locked and loaded?If or when the share price goes past 1p, I imagine this minor placing at a small discount will be forgotten. But for Mr Masterman, he'll be over £120k up for his troubles.If the small placing was done at 25p or something silly then I can understand the issue some holders have. Just look at the FRR CEO. Lined his pockets at 0.09p a share and then released news which beefed the sp all the way up to 0.9p a share. 10 bagger for Mr Zaza.Wonder what Mr Masterman has his sights on with his 20% holding?HUB
KALAN
06 Oct 2017
Re: £100k investment by CEO Have just been looking at the charts going further back in time Elviron and there is a massive falling wedge which should come to an endpoint in the next 3 to 18 months - there should be a significant breakout at some point in that time frame - up or down. This does tie in with the actions on the ground in the real world.I have been re-assessing my position here taking into account penholmes post which proved correct in the short term and MM's actions in fundraising - I have decided on balance to stay here as the short term is going to be trumped by the medium term IMO and the bounce can start any time now looking at the charts.Was 90% positive about now until Christmas here - now 75% positive. No point being a blind follower without taking into account the possible negatives and downside. On balance the upside potential is massive compared to the downside risk IMO.
Elviron1
06 Oct 2017
£100k investment by CEO I am very much of the same thinking at Kalan.Let's not sugar coat it - we were lied to plain and simple about the need for a placing. That lie has cost many on here money. And it has damaged trust.Now having said that, MM, the man who knows the debt funding situation better than any, has elected to put in another £100k of his own money, which is no small change even for a wealthy man. Contrast that with the recent SRON placing in which he did not participate...WRES has £1 million in the bank which should be more than enough to see the company through to debt finance (last raising was for about £600k in mid-June from memory).The RNS also mentions getting some pre-production tasks underway which is a significant positive, as if they can target some front-end low cost but time consuming tasks, that will bring forward the production date in 2018.Finally, as Kalan has mentioned, the chart looks pretty decent with the 200 day MA flattening out at just over 36pish and the 50 day MA rising strongly into 37p. This is very bullish territory and suggests a bounce is on the cards.
Ripley94
06 Oct 2017
Re: Placing RNS .. Turner Pope Another yesterday @ 0.375p... 900,000 raised.Turner pope of course did they sub it out to other brokers.
asilad
06 Oct 2017
No Rush A Letter of Intent ("LOI"
has been signed by one of the potential customers and a further LOI is expected to be signed by the second potential customer shortly. W's intention would be to convert the LOI's into formal contracts in Q4 to provide support for the proposed debt financing announced with the interim results.In other words 'YOU ARE NOT GETTING FINANCE UNTIL YOU HAVE OFFTAKE AGREEMENTS SIGNED, SEALED AND DELIVERD'. Could't really be any clearer could it? This now has further to fall.
jonmor
06 Oct 2017
Shares in issue Seems to be quite an increase over the past six or seven years.Wonder what that means ??
