Post by
lonade on Mar 08, 2021 4:16am
Death Spiral at Wres ongoing...as predicted
Next NR leading to shareholders loosing all their investment.
Share consolidation announced to allow for insuance of new shares! Banks and management will compensate themselves with new shares to cover for their loses, retail shareholders completely screwed.
Quote from NR:
"
The Company currently has in issue 7,709,935,731 Ordinary Shares at the date of this document, which are publicly traded on AIM. At the present time, the Ordinary Shares are trading at a price that is lower than their nominal value. The Company is not permitted by law to issue shares below their nominal value..
"
Wres is becoming the textbook example of a failing junior miner...
- overpromised studies with OPEX that could never be achieved
- resource with one of the lowest tungsten grades in the world to allow for any profitable mining apart from the top a commodity cycle (if at all....)
- financing signed at rates that are not sustainable and only advantageous to the banks
- lack of tungsten mining knowledge
https://www.lse.co.uk/rns/WRES/capital-reorganisation-notice-of-general-meeting-3arwymn4783bntb.html
Comment by
GaiusGermanicus on Mar 08, 2021 9:14am
Look for Junior miners that spend more on PR than on hauling ore out of the ground, and avoid them.
Comment by
whoisyourpapa on Mar 08, 2021 11:38am
Don't know much about WRES or the mining properties the own but how do they manange to have a market cap of over $600 Mil or is my math wrong?
Comment by
Auscri on Mar 08, 2021 11:46am
According to this website: https://www.marketwatch.com/investing/stock/wres?countrycode=uk Their market cap is £6.94M
Comment by
corton68 on Mar 16, 2021 6:19am
Telemoron....down 10% today and falling, falling, falling. So fast in fact they're going to crash right through your Mums basement - say hello from all of us!