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I have asked the admin to remove my original post as it contained an error. Hopefully they will do this.
Getinthere. I did apologise for my missing the couple of words in your post. If you want to criticise my maths rather than my reading. Can you critique the rest of the post
If this produces 150t in quarter 2 then it is still a VERY long way from being cash positive especially with the current depressed tungsten price.
At 150t, It's probably at best only 50% of what it needs to break even and that's assuming production costs stated in the FID are correct, there has been no update on production costs but the debt servicing costs are WAY over those that are provided in the FID.
I am sure the FID assumed 200t a MONTH to be produced in 2018 not 50t a month in 2020. It seems poor (like my reading of your post)
Going under
You obviously can’t read and or are incapable of basic maths.
My apologies. I misread. That makes more sense.
GIT said 40 tonnes in the last week of June, not the entire month.
GIT ,those figures looking good add funding which I think will come sooner than others think should give this a good move up imho,wonder if any gold news coming ?
GIT, hope so my friend
Cookie / ponfeigh
If we have only produced 150 tons of tungsten and 30 tons of tin, but, in the last week of June produced 40 tons of tungsten and 10 tons of tin, then we are really on our way to a great future here at WRES.
Ponfeigh,yes agree could push 0.45 on good news like that ,think of mcktap!!!
GIT Cookie ,and if rns lands this week with that long overdue grant news ,well can see being above 0.3 .
Cookie
Let’s hope it’s blimmin good news mate ;)
INDEED GIT WE ARE ON THE MOVE TOWARDS NEWS! !!
I’m hoping we will get to the top of my expected pre production range by the end of the week (0.27) and if buys continue to outstrip sells as they have today, there’s a fair chance that will happen.
We will know the results by the end of next week at the latest and if MM is able to tell us that we have at least exited June at or close to 80% of our expected production, we will all be happy bunnies ;)