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GIT, thanks for your positivity, MM still could do better! Sorry to hear about your mother, a very sad way to spend your later years!
You take care too and enjoy the sunshine.
Seawolf
Sorry mate I’ve been out again this time at my 101 year old mothers, who, unfortunately, always wants to go home, despite the fact that she is home ! Blimmin horrible Alzheimer’s !
I can understand that your faith has been shattered, this certainly hasn’t been either a quick or an easy ride, in fact it’s been the exact opposite, however, IF, we are now finally on our way to reaching somewhere close to the expected T2 production level by the end of the year, as was stated in today’s RNS, then our patience will, at long, long last be rewarded ;-)
Have a good weekend mate.
Seawolf, completely understandable view point. Lack of faith following lack of delivery understandable. Personally, I feel events have been unkind and I include suppliers not providing some kit not fit for purpose.
Moving forward though, with the stated shipments for three weeks and more to come this is more positive and very hopeful. Definite improvement, That is just based on activity at la Parilla.
The Regua ore is subject to licence and that is an issue in Portugal at the moment, so got me that is the truth from 1st June RNS- if that gets resolved,super. The same would be true of actio on thrr eg gold at Sao Martinho, could be very super.
Prices for metal increasing and forecasts positive.
In Iberia, I am sure you are aware, it can get very dry and wet things cease to be so in summer.
We have been through a prolonged period in the doldrums, but I think we can get some wind in your sails. In fact I expect very good progress indeed.
GIT, my faith is well and truly shattered, it may be restored by results further down the line. I have lived in the Iberian peninsula and heavy rain in the winter is not unusual, flooding can and does occur but weather is somewhat unpredictable. Perhaps Jesus, God and his mate Moses will come into play! When MM eventually resolves the financing situation and comes clean we can all regain some faith. Waiting for the Q&A session for some answers.
Sea wolf
I’ve been out for my usual 5 miles so have only just read your post, you are wrong mate.
79.3 tons this month, (you rounded it to 80) but, that’s as I said from the lower grade ore body, production is and will continue to increase as we start to mine the higher grade ore body, so you can’t just multiply 80 tons by the remaining 8 months of the year = 640 tons plus Q1 92.4 tons plus April’s 80 tons, which in any case amounts to 812.4 tons, as you are taking no account of either the higher grade ore, or, of the improvements in operating, or of the fact that for Q4 we will be on a 7 day week rather than the 5 day week we are currently on.
Have some faith mate.
Long term follower of WRES, have met MM many times, have traded the shares profitably fortunately, bought back in today having been out for 18 months or longer, a number of smallish tranches initially, recent updates seem to suggest they are turning the corner.
The shares are fast moving on volume, at current levels must be a reasonable entry point IMO, time will tell.
GIT, with a poor Q1 and shipments of 80t this month it is increasingly likely that they will miss their own 800t this year ( as per shard report), and that’s their lower estimate. We still do not understand the full financial implications as MM is hiding the truth from investors. I wish Jesus all the best but fear we will need the intervention of the big G!
Tenners
We will have shipped 60 tons of tungsten and 19.3 tons of tin in April, and this is without access to the high grade ore body as it is still currently underwater, so once the water has been pumped away I would expect higher levels of production each week and month.
This is from the RNS :-
“With the team at full strength, concentrate recovery rates increasing and progress being made to lower the water levels at the mine, W looks forward to regaining access to the high-grade ore bodies and increasing production.”
Good RNS.
Nice to see good shipments this month and generating good revenue.
Is this can be maintained in May and June to reach a quarter revenue of 5m, it makes the MCAP of 7.5m look completely unjustified.
Morning all. Good to see we are on our way.
Q1 - Total tungsten and tin concentrate production of 92.4t
Month 1 of Q2 - Total tungsten and tin concentrate shipments of 79.3 tons
Q1 averaged 30.8 tons per month, in April we will have shipped 79.3 tons, that’s 2.57 times as much, and we will increase going forward.