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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential


W Resources Share Chat (WRES)



Share Price: 0.455Bid: 0.45Ask: 0.46Change: 0.00 (0.00%)No Movement on W Resources
Spread: 0.01Spread as %: 2.22%Open: 0.475High: 0.475Low: 0.44Yesterday’s Close: 0.455


Share Discussion for W Resources


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Redsaint
Posts: 11
Opinion:Strong Buy
Price:0.455
RE: The change
Today 18:35
Safety, I agree with your La Parrilla production comments, looks like they have had to take a step backwards in order to get the new regim going.
Likewise Régua looks like a Sweetheart deal. It looks like a win win with the tailings being used for remediation of the old quarry. Keeps our costs down and saves the suppliers money for infill.
 
safetyman
Posts: 3,400
Opinion:Strong Buy
Price:0.455
RE: The change
Today 17:53
The production figures of 20T are, by any interpretation, disappointing when we already thought that this had been happening and should be ramping up. However, moving forward it is what it is and now things should really start moving.
What is heartening though is the update on Regua; my reading of that is we incur costs on haulage and construction, but only for that which is produced as a fixed price on apt per mtu. So we should not be paying for dirt shipped and crushed that does not yield fruit. If that’s the case in the contract, crackerjack imho.
GETINTHERE
Posts: 3,639
Opinion:Strong Buy
Price:0.455
RE: The change
Today 17:43
Well I had hoped for a bit of an SP increase before the AGM based on what I had hoped would be both the gold update and confirmation that the concentrator was finished, we won’t get the former now until July, but we should at least get the latter.

Régua was great news but the market seems to want proof of production before we see any significant increase to the SP, never mind I can wait I’ve waited 7 years so another few months doesn’t matter much.
K3VMC
Posts: 13,417
Premium Chat Member
Opinion:No Opinion
Price:0.455
RE: The change
Today 17:28
thechaser, yes, I interpreted his proactive interview as production going from 20t to 40t, not as allowing them to go from 20t to 40t, so I am disappointed in that, but happier about Régua.

Red, he said they commissioned once with water, then again with ore, so your point makes good sense to me.
mogwhy
Posts: 708
Opinion:Strong Buy
Price:0.455
RE: Small point
Today 17:09
oldie - you're looking at the short timeframe again.
MM is building a mid tier mining company which will take years not months.
That's where I'm aligned with him and that's why the short term traders jump up and down
whenever a missed deadline becomes apparent.
I never said I was confident of any of MM's deadlines would be met.
In fact I posted the opposite - I expected delays unlike a lot here who have obviously
never had any experience of mining projects.
The list of possible newsflow that I post is just that, possible.
REDDINGTONR
Posts: 1,778
Opinion:No Opinion
Price:0.455
RE: Wres
Today 16:55
It’s seems the way with Wres, tungsten just not as interesting as say an oil drill. Market probably quite rightly waiting for the promised production updates in the September quarter.
Wassatt
Posts: 81,636
Opinion:No Opinion
Price:0.46
RE: Wres
Today 16:51
I didn't say I wasn't pleased....... I said I'm baffled by the lack of interest (apparently)...
oldskool
Posts: 2,373
Opinion:No Opinion
Price:0.455
RE: Small point
Today 16:43
Moggie, but the timeframes you were confident would be met (adamant some may say) have not been met. We were already delayed. MM is earning 20k a month off this....you aren't. Is that alignment?
REDDINGTONR
Posts: 1,778
Opinion:No Opinion
Price:0.455
RE: Wres
Today 16:39
Wassatt I’m really pleased with today’s two RNS reports and I think most in industry who’ve been involved in equipment commissioning will be impressed by MMs achievements to date. Very relieved and happy to add more. Fully expect to grab a few more at cheeky prices, but not sure I’d be to happy to sell too cheaply, but if I do i’ll Be buying more on the dips.
Wassatt
Posts: 81,636
Opinion:No Opinion
Price:0.455
Wres
Today 16:29
Once again I'm baffled as to why no increase today
REDDINGTONR
Posts: 1,778
Opinion:No Opinion
Price:0.455
RE: The change
Today 16:19
Kev going back to the point you raised earlier. Today’s RNS stated that concentrate production recommenced in June. So I’ve interpreted this as a break in production, which now involves a new ramp up from a production low. I also noted the terminology in the last RNS, but had no concerns as I rightly or incorrectly interpreted this as a dual commissioning process that is performed with and without ore. My background is pharma manufacturing and we use a similar approach when commissioning manufacturing equipment.
Cookiecrew2019
Posts: 1,532
Opinion:No Opinion
Price:0.455
RE: cookiecrew
Today 16:18
Thanks my friend ....
thechaser
Posts: 1,361
Opinion:No Opinion
Price:0.455
cookiecrew
Today 16:16
Good luck with SOLG tomorrow, hope it all works out for you.
GETINTHERE
Posts: 3,639
Opinion:Strong Buy
Price:0.455
RE: Small point
Today 15:43
Mogwhy

I agree with your outlook for WRES, we are on track, some teething problems were and are inevitable but we will become a mid tier miner and whilst I would like that to happen ASAP if it takes another 2-3 years then so be it. Personally I now think 12-18 months as that should give us 6 months of full production from la parilla and Régua up and running at the lower timescale and 12 months of full la parilla production and 6 months at least of full production at Régua at the upper timescale, which I think will be enough to prove to the market our profitability.

I still think that the gold will have an impact when finally announced but the game changer is full production at or close to the costs envisaged and at or above the tungsten price envisaged in the FID.
TrumptonTown
Posts: 5,161
Opinion:No Opinion
Price:0.455
W
Today 14:38
Do the old warrants expire tomorrow? Maybe then the selling will stop??
rodrod1
Posts: 7
Opinion:Strong Buy
Price:0.455
RE: The change
Today 14:24
I was also disappointed with the level of production. With regards to Regua though, I had assumed it would not come on stream until 2020 and would entail significant capital investment, despite MM's previous comments.

Regua is going to provide us with positive cashflow much sooner than I expected.
thechaser
Posts: 1,361
Opinion:No Opinion
Price:0.455
RE: The change
Today 13:58
Thanks for that Kev, I'm sure that you yourself have said about the increase from 20T to 40T in some of your posts. It was just a bit disappointing.
K3VMC
Posts: 13,417
Premium Chat Member
Opinion:No Opinion
Price:0.455
RE: Small point
Today 13:30
oldskool

Market says meh about the progress at Régua? Good!

Happy to be contemplating 300,000 mtu WO3 and to still be buying in at this level. Not today, though. Today I have no money to spare.
K3VMC
Posts: 13,417
Premium Chat Member
Opinion:No Opinion
Price:0.455
RE: The change
Today 13:26
thechaser, the RNS of May 21st is titled “Jig Commissioned”, but Mr Masterman comments something like “we are successfully commissioning the Jig and the Mill”. I thought that was a bit odd at the time. Surely, it should have read “Jig and Mill Commissioned”?

In the proactive investors interview with him on site at LP, he says they have been doing about 20 tonnes per month and that the Jig and Mill will “allow them to double the grade going into the old concentrator”, which I understood to be, “we will now feed double the grade into the old concentrator”, which we now discover is clearly NOT the case.

This was very poorly communicated, as we now find out.
mogwhy
Posts: 708
Opinion:Strong Buy
Price:0.455
RE: Small point
Today 13:15
oldie - I seem to have a different focus on longer timeframes to most on here.
I am looking 2 to 3 years ahead and am unconcerned
with short term share price fluctuations.
That's not to say I don't keep an eye on the story to see if it changes.
Most here seem to be very inexperienced with their expectations
of how a mining construction and commissioning phase will play out.
Delays, cash flow issues and underperformance during this phase is the norm. See ORM.
The story hasn't changed here and we are on course to
become a mid-tier mining company with a circa £150m market cap.
That's a 6 bagger from here less any further dilution.
Like most, I'm not happy with Mastermans communications,
but I believe that his interests are aligned with mine.
His interests are not aligned with the short termists that have been prevalent on here.
I monitor the share price performance of my investments at the end of each year.
Since scaling in here during 2017, each subsequent year end
has shown an increase in the share price and I expect that to continue this year.
MBleu357
Posts: 7
Opinion:No Opinion
Price:0.455
FYI
Today 13:11
Borrowed from the QFI board where I am still a shareholder(small) and in profit after a 100% rise in a couple of weeks. (very special circumstances). The point of my post. Think it says a lot. :- "as always, there will be ups and downs. But I think the team are moving things in the right direction, and their increased communications with the market are appreciated." Nuff said.
oldskool
Posts: 2,373
Opinion:No Opinion
Price:0.455
RE: Small point
Today 12:53
Moggy, I shall stick my finger in the air and see...it would be as much use. Even MM cant get his figures right, doesnt hold much hope for me and you. We are burning cash. You should really be asking why and where? SP changing news before the AGM has been the chant of many. I said unlikely as it is mostly in 3rd party hands. No SP changing news yet. The figures are all now off.
K3. Yes, we should have more coming in. RNS does not seem to suggest that we have. You cannot assume or presume with MM.
It is the afternoon and the market still says 'meh'.
mogwhy
Posts: 708
Opinion:Strong Buy
Price:0.455
Tungsten news
Today 12:45
Tungsten APT European US$255-265/mtu vs US$260-270/mtu
K3VMC
Posts: 13,417
Premium Chat Member
Opinion:No Opinion
Price:0.455
Gold JORC
Today 12:29
“"Whilst slow progress in finalising the updated JORC estimate for São Martinho has been extremely frustrating for both the management of W Resources and investors alike, the potential size of the deposit is encouraging and we have firmly requested that SRK address the issues our Qualified Persons have raised and finalise the report.”

Potential size sounds good. Extremely frustrating doesn’t quite describe how I feel about the delay. It reminds me of having to deal with my local council, which is not good for my blood pressure.
K3VMC
Posts: 13,417
Premium Chat Member
Opinion:No Opinion
Price:0.455
RE: Pesky phone
Today 12:25
Are you really hot on hols? Maybe too much information!




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