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My motto is that it is sometimes better to ask for forgiveness than to ask for permission....
Safety / Dreamy,
I’m hoping for some good news, before the years end, possibly grant, possibly gold, possibly Regua, but I’m not expecting it.
The situation with WRES has changed massively, partly because of plant issues, partly because of personnel issues and partly because of Covid19, and the consequent effects that has and continues to have on the worlds economy and therefore commodity prices, hence why I am now of the belief that a 1p target by the end of 2021 is realistic, unless something massive and positive occurs in the meantime - we can but hope ;-)
Spot on Dreaming. In my everyday life I’m a positive optimist, where Masterman is concerned I’m a convinced pessimist.
Will it come good? almost certainly.
When will it come good? God knows!
Am I selling? Nope.
Buying? Nope.
Waiting ever so patiently? Yep!
Let’s just hope we don’t get a fall back Friday close.
Dreamingof; Always remember the line from the theme song of the program The Flashing Blade; ..‘........it’s better to have requested and waited than never requested at all’
Safety....we can request to our hearts content but given the reaction time on licence requests and grants I would not assume anything (am guessing Portuguese also have hands full with covid so issuing of licence has become less urgent).
I have pushed back Regua till sometime next year (in my experience with Wres, always have low expectations, you will still get disappointed, just less so). If a year ago anyone had dared to speculate that we shouldn’t expect more at 1p by end of 2021 they would have been hung, drawn and quartered....yet now people are resigned to it.
I do feel that a corner has been turned but have felt that before and turned out the following corner turned us back to where we started so I am just waiting till Jan numbers with no other expectations of positive news and a degree of trepidation of bad news hitting us from somewhere).
So for Regua this year the RNS says......
Plant design and procurement activities are near completion in advance of construction activities which have been rescheduled to later in the year, pending review of the ongoing impact of COVID-19. As a result of the requirement to pause operations, an application to extend the period of the trial mine licence has been submitted to the Portuguese mining authorities. Following this we are planning to apply to convert the trial mine licence at Régua to a full mine licence in Q4 2020................... so if Covid causes a slip on target ( likely) we can’t be far off getting that going imo.
Also for higher grade stuff to go in the concentrator we need to consider the Regua ore going in the mix. This will considerably increase tungsten production. it says in the half year report
Régua Tungsten Mine
This high-grade, development-ready tungsten project with low capital cost has a trial mine licence, and an updated JORC compliant mineral resource of 4.47mt at a grade of 0.27% WO3, including an indicated resource of 3.74Mt at a grade of 0.28% WO3, which was completed by Golder Associates Pty Ltd ("Golder") in January 2020.
RNS half year report: “ . We will actively explore opportunities to bring in Joint Venture parties and monetise the gold discovery in 2020. New expenditure on this project is pending grant of the trial mining licence.”
And on the discovery channel on the advert for the new gold rush program the guy says “there’s never been a better time to be in the gold business “